3M to Buy Scott Safety From Johnson Controls in $2 Billion Deal

3M Co. agreed to acquire Scott Safety from Johnson Controls International Plc for an enterprise value of $2 billion, expanding the company’s protective-equipment portfolio as its consumer business struggles.

Scott Safety’s products help protect fire, rescue, industrial and police forces from environmental hazards. The Monroe, N.C.-based company reported revenue of about $570 million last year and employs about 1,500 people.

3M is battling the effects of a strong U.S. dollar and a sharp downturn in the consumer-electronics market. The St. Paul, Minn.-based company, which generates about two-thirds of its sales abroad, has sought to reduce U.S. expenses and strengthen its ...