On 1 August 2019, Teledyne Technologies announced the successful completion of the previously announced acquisition of the gas and flame-detection business of 3M for $230 million in cash. This includes Oldham, Simtronics, Gas Measurement Instruments (GMI), Detcon and select Scott Safety products. The gas and flame-detection business provides a portfolio of fixed and portable industrial gas and flame-detection instruments used in a variety of industries including petrochemical, power generation, oil and gas, food and beverage, mining and waste water treatment. The Oldham, Simtronics, GMI and Detcon brands bring together over 100 years of industry experience across a wide range of standard products and customised solutions. These rugged trace-gas analysers feature fast response time, intrinsically safe sensors and satisfy multiple international certification standards.
"We are excited to welcome this new core business and its employees to Teledyne. The gas and flame-detection business uses similar technology and serves related markets as our portfolio of environmental instrumentation businesses. However, our respective products do not compete and we generally serve customers in complementary geographies," says Robert Mehrabian, executive chairman of Teledyne. "We have now completed two corporate carve-out acquisitions in 2019, and we closed each transaction within two months of announcement." Teledyne management expects the transaction to be accretive to GAAP earnings per share in the first year after the acquisition.
While this acquisition is intended to enhance Teledyne's product range in the gas and flame-detection business, the company already offers a number of impressive solutions in that area. Launched in March 2019, Teledyne's most popular portable multi-gas detector, the PS200, features some impressive product enhancements. One such improvement is a powerful new data-logging capacity that will enable customers to capture all relevant calibration data within a six-month period. This increased capacity will improve customers' access to relevant data over a longer time period while enabling quicker decisions to be made.
Another helpful addition is the new quick-press field calibration mode, which will save customers time by simplifying the field calibration process. Customers will also be able to visualise STEL/LTEL readings on-screen and log these in Teledyne's software package to improve compliance monitoring.
Finally, the company have added a bundle of user experience upgrades, including a quick information press when off, configurable confidence beeps and increased user control around calibration due dates, dead-band configurations, and resolution settings (H2S). These combined features will enhance performance, improve ease-of-use and enrich the overall user experience.
The PS200 forms part of Teledyne's gas and flame industrial portables portfolio, which includes a range of gas detectors designed to keep workers safe in challenging environments. Other industrial portable products include the Protégé ZM (Zero Maintenance) and SG (Single-Gas), a range of single-gas disposable and reusable solutions, and the popular PS500, an up-to-five-gas monitor for more exotic environments and applications.