Tyco to Buy Chemguard Inc., Maker of Firefighting Foam

Tyco International Ltd said Tuesday it will buy privately held Chemguard Inc, a maker of specialty foam and equipment used by firefighters, to expand its fire protection products segment.

Terms were not disclosed and Tyco declined to provide Chemguard sales figures.

The deal fits within the $500 to $600 million Tyco has estimated it will spend on bolt-on acquisitions over 12 months, Tyco spokesman Paul Fitzhenry said.

Mansfield, Texas-based Chemguard, which specializes in chemicals to suppress flammable liquid and gas fires, but also provides equipment and training, employs about 150 workers.

Tyco said the deal would close by the end of 2011.

Its shares were up 0.9 percent at $47.26 in early trading on the New York Stock Exchange.

(Reporting by Nick Zieminski, editing by Gerald E. McCormick)