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MSA Safety Incorporated is a global leader in advanced safety products and solutions, dedicated to protecting workers and facility infrastructure across diverse industries. The company designs, manufactures, and sells a wide range of safety equipment, including breathing apparatus, gas detection systems, and personal protective equipment, to meet rigorous safety standards in highly regulated markets. MSA serves industries such as fire service, energy, construction, and industrial manufacturing, leveraging innovation and technology to enhance safety operations.
- Fire Service - Provides self-contained breathing apparatus (SCBA), firefighter helmets, and protective apparel to ensure safety for firefighters and emergency responders.
- Detection - Offers fixed gas and flame detection (FGFD) systems and portable gas detection instruments for monitoring hazardous environments.
- Industrial Personal Protective Equipment (PPE) - Includes industrial head protection, fall protection devices, and other PPE to safeguard workers in industrial and construction settings.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Steven C. Blanco ExecutiveBoard | President and Chief Executive Officer | Steven C. Blanco has been the CEO of MSA Safety Incorporated since May 2024, previously serving as President and Chief Operating Officer from June 2023 to May 2024 and holding leadership roles like Senior Vice President and President of MSA Americas. | View Report → | |
David J. Howells Executive | Senior Vice President and President, MSA International | David J. Howells is the Senior Vice President and President, MSA International since June 2024. He has held various leadership roles at MSA, including Interim President and several Vice President positions, contributing to revenue growth and a progressive go-to-market strategy. | ||
Elyse L. Brody Executive | Interim Chief Financial Officer (CFO) | Elyse L. Brody is the Interim Chief Financial Officer (CFO) at MSA, a position she assumed on March 21, 2025, and she also serves as the Executive Director of Financial Planning and Analysis and Strategy. She has been with MSA since 2011 and has held several roles, including Director of Investor Relations and Director, Global Financial Planning and Analysis and Strategy. | ||
Richard W. Roda Executive | Vice President, Secretary, and Chief Legal Officer | Richard W. Roda has been the Vice President, Secretary, and Chief Legal Officer at MSA since June 2023, and previously served as Deputy General Counsel, Secretary, and Chief Compliance Officer from January 2020 and as Associate General Counsel, Corporate Secretary, and Chief Compliance Officer from December 2016. | ||
Stephanie L. Sciullo Executive | Senior Vice President and President, MSA Americas | Stephanie L. Sciullo serves as Senior Vice President and President, MSA Americas at MSA Safety since June 2023. She has previously held roles including Senior Vice President and Chief Legal Officer, Corporate Social Responsibility & Public Affairs since June 2022 and Vice President and Chief Legal Officer from January 2020. | ||
Diane M. Pearse Board | Director | Director at Li-Cycle Corp. | Diane M. Pearse has been a Director at MSA Safety Incorporated since 2004 and serves on the Audit and Law Committees. She previously held executive roles such as CEO and President at Hickory Farms, LLC from March 2016 until February 2022. | |
Gregory B. Jordan Board | Director | Vice Chair (Part-Time Advisory Role) at PNC Financial Services Group, Inc. | Gregory B. Jordan has served as a Director at MSA Safety Incorporated since 2019 and is Chair of the Law Committee. Previously, he held executive roles at PNC Financial Services Group, Inc. from February 2016 to September 2024 and served as Global Managing Partner at Reed Smith LLP. | |
Nishan J. Vartanian Board | Non-Executive Chairman | Board Member at Koppers Holdings, Inc.; Director at Federal Reserve Bank of Cleveland, Pittsburgh Branch; Trustee at Manufacturers Alliance for Productivity and Innovation (MAPI); Trustee at International Association of Fire Fighters Foundation; Trustee at Allegheny Conference on Community Development | Nishan J. Vartanian is the Non-Executive Chairman at MSA, having previously served as Chairman & CEO, President, and COO during his extensive career at the company since 1985. He brings decades of leadership and operational expertise to the board. | |
Robert A. Bruggeworth Board | Lead Independent Director | President and CEO of Qorvo, Inc. | Robert A. Bruggeworth has served on the MSA board since 2007 as the Lead Independent Director, playing key roles on the Compensation and Talent Management and Nominating and Corporate Governance Committees. He also brings extensive global business and M&A expertise, holding the external position of President and CEO of Qorvo, Inc. since January 2015. | |
Sandra L. Phillips Board | Director | Senior Vice President, Enterprise Integrity, Chief Sustainability Officer, and Chief Legal Officer at Toyota Motor North America | Sandra L. Phillips has been a Director at MSA Safety Incorporated since 2017. She also holds a significant executive position at Toyota Motor North America as Senior Vice President, Enterprise Integrity, Chief Sustainability Officer, and Chief Legal Officer since April 2024. | |
William M. Lambert Board | Director | Chairman of Kennametal Inc. | William M. Lambert has been a director at MSA since 2007 and previously served as President, CEO, and Chairman until May 2020. He brings over 35 years of experience at MSA and currently contributes as a board member while also serving as Chairman at Kennametal Inc. | |
William R. Sperry Board | Director | Executive Vice President and Chief Financial Officer of Hubbell Incorporated | William R. Sperry has been serving as a Director at MSA Safety Incorporated since 2019 and is the Chair of the Audit Committee, bringing extensive experience in financial oversight and risk management. He is also the Executive Vice President and Chief Financial Officer of Hubbell Incorporated since June 2012. |
- Given the acceleration of shipments in Q1 amid tariff uncertainties, could you elaborate on how your project decision-making process has evolved, and if these adjustments are expected to persist throughout 2025?
- Can you provide more detailed insights on the impact of transactional foreign exchange on local currency gross margins, particularly quantifying the headwinds from Latin American currencies?
- Could you break down the performance differences between your fixed and portable gas detection segments in light of the order slippage and strong growth, and share how you expect these trends to influence future revenues?
- What specific products and initiatives contributed to the just-under $10 million pull forward in Q1, and how do you anticipate this will affect your normalized backlog and upcoming quarters’ growth?
- With ongoing tariff pressures and evolving supply chain challenges, how do you plan to sustain long-term cost reductions and meet your 2028 EPS targets amidst potential choppiness in the current macro environment?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
M&C TechGroup | 2025 | MSA Safety acquired M&C TechGroup for approximately $200 million, adding capabilities in gas sampling, gas conditioning, and advanced process control with annual revenues of about $55 million and a workforce of 220 associates globally. The acquisition, completed through MSA Europe Holdings GmbH on May 6, 2025, supports MSA’s "Accelerate" strategy to grow in the gas analysis and process safety markets and is expected to be accretive to earnings. |
Bacharach | 2021 | MSA Safety completed the Bacharach acquisition on July 1, 2021, in a deal valued at $337 million in cash, net of cash acquired. The deal, structured as a merger with financing sourced partly from $200 million of 15-year senior notes and a revolving credit facility, adds advanced gas detection technologies for the HVAC-R market and is supported by detailed integration plans. |
Bristol Uniforms | 2021 | MSA Safety’s acquisition of Bristol Uniforms on January 25, 2021, was an all-cash transaction valued at $63.0 million net of cash acquired, adding a leading UK-based provider of protective apparel and expanding its position in European markets. This strategic acquisition, which included detailed asset valuations and is expected to drive earnings accretion, further bolsters MSA’s global fire service PPE portfolio. |
Recent press releases and 8-K filings for MSA.
- MSA Safety Inc emphasized its strong momentum in the detection and industrial PPE segments, while noting that the fire service business is facing challenging comps and regulatory pressures, including implications from NFPA standards.
- The company is driving innovation, launching new products such as the SCBA G1 XR and enhancing connected solutions with the MSA Plus/io4 platform to improve safety, asset management, and customer value.
- MSA Safety announced the strategic acquisition of German-based M and C Tech, expanding its addressable fixed monitoring market by approximately $500 million, and reinforcing growth opportunities in North American markets.
- MSA Safety Inc filed an 8-K on May 14, 2025, detailing key annual meeting matters including director elections and vote outcomes.
- The document reports the election of new directors with appointments effective until 2028 and confirms the continuation of existing directors with terms expiring in 2026 and 2027.
- It also notes the selection of Ernst & Young LLP as the independent auditing firm for 2025 and provides results of the advisory vote on executive compensation.
- MSA Safety Inc. announced its acquisition of M&C TechGroup, a leading manufacturer of gas analysis solutions, in a transaction valued at approximately $200 million.
- The acquisition expands MSA’s detection solutions and adds new capabilities in gas analysis and process safety markets, with the deal expected to be accretive to adjusted earnings in 2025.
- MSA Europe Holdings GmbH completed the acquisition on May 6, 2025, reinforcing the company’s global expansion strategy.
- The Board approved the 55th consecutive annual dividend increase, raising the quarterly common dividend from $0.51 to $0.53 (a 4% increase, with a 5% increase over 2024).
- The common dividend will be payable on June 10, 2025 and a $0.5625 per preferred share dividend on June 1, 2025, with the record date set for May 15, 2025.
- MSA Safety reaffirmed its strong financial position and commitment to returning value to shareholders while investing in its growth initiatives.
- Net sales of $421MM, adjusted EPS of $1.68, and operating margins of 18.5% GAAP and 20.8% adjusted reflect solid Q1 2025 performance with mid-single digit organic growth amid FX headwinds
- Delivered free cash flow of $51M (86% conversion) while maintaining a robust balance sheet with 0.7x net leverage and an expanded revolving credit facility to $1.3B
- Executed capital allocation measures with share repurchases of $10M and dividends of $20M
- Strategic initiatives included enhancements to the G1TM SCBA platform and securing a $10MM Breathing Apparatus contract from Orange County Fire Authority, alongside product innovation in Detection and Fire Service segments with new introductions at the FDIC
- Reported Q1 2025 net sales of $421 million with a 2% GAAP increase and 4% organic growth year-over-year
- Achieved GAAP operating income of $78 million (18.5% margin) and net income of $60 million, including $1.51 per diluted share and adjusted earnings of $66 million ($1.68 per diluted share)
- Capital allocation efforts included returning $20 million in dividends, executing $10 million in share repurchases, investing $11 million in capital expenditures, and repaying $7 million of debt
- Maintained a low-single-digit organic sales growth outlook for full-year 2025
- Amendments to Debt Facilities: The company has executed amendments to its credit and note agreements, including the Fifth Amended and Restated Credit Agreement for a $1.3 billion revolving credit facility and updates to multi-currency and master note facilities effective April 1, 2025.
- Revised Terms and Covenants: The revised agreements adjust key terms such as borrowing limits, interest rate calculations, and covenant requirements, potentially impacting the company’s financing flexibility.
- Key Financial Implications: These updates streamline the company’s debt issuance framework to secure favorable financing conditions and support potential future increases in available borrowing.
- MSA Safety's CFO, Lee B. McChesney, has resigned effective March 21, 2025, to pursue another opportunity at a different public company .
- Interim CFO Elyse Brody has been appointed effective March 21, 2025, with adjustments made to her compensation and a search for a permanent replacement underway .
- Brody brings valuable experience as Executive Director of Financial Planning and Analysis and Strategy .