PITTSBURGH — May 21, 2019 — Global safety equipment manufacturer MSA Safety Inc. today announced it has completed its acquisition of Sierra Monitor Corp. in an all-cash transaction valued at $33 million. Based in Milpitas, Calif., in the heart of Silicon Valley, Sierra Monitor is a leading provider of fixed gas and flame detection (FGFD) instruments and Industrial Internet of Things (IIoT) solutions that connect and help protect high-value infrastructure assets. Sierra Monitor has annual revenue of approximately $20 million and approximately 80 employees.
The acquisition enables MSA to accelerate its strategy to enhance worker safety and accountability through the use of cloud technology and wireless connectivity; a key focus of the company’s recently established Safety ioTM subsidiary. MSA launched Safety io in 2018, primarily to leverage the capabilities of its portable gas detection portfolio as it relates to cloud connectivity.
“We’re very excited to officially welcome Sierra Monitor to the MSA family,” said Nish Vartanian, MSA president and CEO. “Today, the safety industry is placing greater focus on connectivity and remote monitoring to enhance worker safety. With SMC on board, we can fast track our connectivity technology from Safety io into infrastructure applications for FGFD systems,” Vartanian said.
Over the past several weeks, Vartanian said the company has been focused on developing a cross-functional integration process designed to ensure the success of the acquisition. “At the center of this process is a highly skilled integration team comprised of functional area business leaders from both organizations,” Vartanian commented. “As we prepared for the closing of this transaction, this team created a detailed, process-driven blueprint to ensure the integration is fully planned and effectively executed. Now we’re looking forward to putting this plan into action,” he concluded.
Posted May 21, 2019
Source: MSA Safety