Aearo Technologies Inc., the Indianapolis company that makes goggles, earplugs and other personal safety equipment, has agreed to be acquired by 3M for $1.2 billion, the companies announced this morning.
St. Paul, Minn.-based 3M plans to use Aearo to expand its own health and environmental-safety product lines.
Aearo brands include E-A-R, Peltor, AOSafety and SafeWaze. It generates $508 million in annual sales, and has expanded at a compound annual rate of more than 12 percent in the past five years.
Aearo has 1,700 workers globally, including more than 300 in Indianapolis. Its headquarters are at 5457 W. 79th St.
The seller is the British private equity firm Permira, which purchased Aearo in early 2006 for $765 million.