Industrial Scientific is pleased to announce that it has signed an agreement to become a Fortive Corporation operating company as a member of their Field Solutions platform. The new ownership will provide Industrial Scientific with additional capacity to accelerate the company’s vision of eliminating death on the job by the year 2050.
Fortive (NYSE: FTV) is a public company that was a part of Danaher Corporation until July 2016 when it spun off to become its own company. With 2016 revenues of $6.2 billion, Fortive is a diversified industrial growth company with essential technology businesses that drive innovation in field instrumentation, transportation, sensing, product realization, automation, and franchise distribution.
“We look forward to welcoming the Industrial Scientific employees to the Fortive team. The addition of Industrial Scientific accelerates our digital strategy and creates a stronger platform for connected solutions for critical applications in maintenance and safety,” said James A. Lico, President and Chief Executive Officer at Fortive.
Fortive owns such companies as Fluke, Tektronix, Matco Tools, Gilbarco Veeder-Root, Kollmorgen, Gems, and Jacobs Vehicle Systems (inventor of the “Jake brake”).
Companies within the Fortive organization are united by a shared purpose: “Essential technology for those who accelerate progress.”
“We are excited by the opportunities we will now have with the backing of Fortive. Our vision of eliminating death on the job by the year 2050 is still our main focus as a company and we will now have even more technological and financial support in that endeavor,” said Justin McElhattan, President of Industrial Scientific.
To learn more about the ownership transition, read the press release here.