3M Co. announced on Tuesday a deal to buy fall protection equipment maker Capital Safety from private-equity firm KKR for $2.5 billion, which includes the assumption of $700 million in debt. 3M expects the deal, which is expected to close in the third quarter, to reduce earnings by 4 cents a share in the first 12 months following completion, but add 12 cents a share to earnings if one-time expenses are excluded. Capital Safety had revenue of $430 million in the fiscal year ended March 31, 2015, and employs about 1,500 people worldwide. "The acquisition of Capital Safety bolsters our personal safety platform and will build on our fundamental strengths in technology, manufacturing, global capabilities and brand," said 3M Chief Executive Inge Thulin. (This replaces an earlier item that incorrectly reported the buyer of Capital Safety.)
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