A Pittsfield-based company that specializes in making safety gear for firefighters is being acquired for $215 million dollars.
Globe Manufacturing is the country’s oldest and largest maker of protective gear for firefighters. Launched in 1887, the company has grown to 425 employees, and operations in four states, including its headquarters in New Hampshire. The company’s annual revenues are approximately $110 million.
Now, MSA Safety is looking to buy Globe, announcing Wednesday an all-cash transaction that is still subject to federal approval. The Pennsylvania-based company is also in the protection business, specializing in hard hats, breathing devices and body armor for workers in mining, oil and gas industries, as well as the military.
“Our vision is to let Globe do what they do,” says Mark Deasy with MSA, which employs more than 4,300 people worldwide. “They’re very good, it is a well-managed, profitable company. And our vision is to let them keep doing what’s made them successful for so many years.”
Deasy says the deal could close as quickly as the third quarter of this year. The company says it has no plans to layoff any Globe employees.