3M to acquire Aearo Technologies for $1.2 billion

Before getting to buy its employees a few gifts for Christmas 3M had one more thing on the shopping list, Aearo Technologies. Based in Indianapolis, Ind., Aearo is set to be acquired by 3M in a deal that will reach $1.2 billion though through a combination of cash and other borrowing.

With Aearo, 3M is planning to expand its occupational health and environmental safety platform while also widening its customer base to also include the industrial, military and construction segments.

“We believe 3M’s solid R&D technology platform and global distribution capabilities will take Aearo’s successful brand to the next level and grow this business to its full potential,” said Michael McLain, president and CEO, Aearo Technologies Inc. “Our two companies share a similar culture of innovation and operational excellence, and the Aearo team is excited about working with 3M colleagues around the world.”

The acquisition is expected to close in the first quarter of 2008. read more