Global safety equipment manufacturer MSA Safety has announced it will acquire Latchways, a supplier of innovative fall protection systems and solutions, for £11 per share
According to MSA Safety, the new transaction represents an important step in the process of implementing MSA’s corporate strategy, with the firm expanding its investment in one of the largest and fastest product segments of the global safety market.
Latchways offers fall protection systems, which includes both horizontal lifelines and vertical lifelines.
Proposed acquisition is valued at around US$191mn, with an enterprise value for Latchways of US$176mn, stated MSA.
“This acquisition accelerates a key element of our corporate strategy and our core product focus in that it extends our fall protection product offerings, particularly within the area of engineered systems,” said William Lambert, MSA chairman, President and CEO.
“I fully expect the combination of our customer relationships, engineering capabilities, marketing expertise and distribution networks will provide great new opportunities for our combined organization,” added Lambert.
