MSA Safety to acquire Norway fire detection firm for $550 million

MSA Safety Inc. will acquire a Norway-based fire and gas detection manufacturer for $550 million.

The Cranberry Township-based MSA (NYSE: MSA) said it expects the deal for Autronica Fire and Security of Trondheim, Norway, to close the acquisition in the third quarter and will fund it in cash and from an existing credit facility.

Autronica was started in September 1957 by four entrepreneurs in a loft, combining their skills and making the first addressable fire alarm. Autronica has about 550 employees and makes fire and gas safety devices in petrochemical, oil, gas, maritime and other sectors. It has offices all over the world, including Davie, Florida, and Houston in the United States.