Post-It maker 3M to pay $810M for Arizant, provider of heating blankets for hospital patients
By APThursday, September 9, 2010
3M acquires heating blanket maker for $810 million
ST. PAUL, Minn. — Manufacturing conglomerate 3M Co. has agreed to pay $810 million for Arizant Inc., a company that makes heating devices for surgical patients.
It’s one of a string of recent acquisitions for 3M as it stretches beyond its traditional business of making Post-It Notes and Scotch Tape.
Last month, 3M agreed to buy Attenti Holdings SA, an Israeli company that makes ankle bracelets used to keep track of people, for $230 million. It also announced it would put up $943 million for Cogent Inc., which provides equipment that reads finger and palm prints.
Arizant, which is majority owned by the New York private equity firm Court Square Capital, is based in Eden Prairie, Minn., near 3M’s own headquarters in St. Paul.
