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- Blackline Safety
Blackline Safety Acquisition, Valuation & Financials
Blackline Safety was acquired by Francisco Partners for $622M in April 2026, a 5.6x multiple on $110M of revenue.
Blackline Safety acquisition price
$622M
Acquired by Francisco Partners · Apr 2026
Blackline Safety revenue at acquisition
$110M
Last twelve months · Apr 2026
Blackline Safety revenue multiple at acquisition
5.6x
EV/Revenue · Apr 2026
Blackline Safety EBITDA multiple before the deal
81.3x
EV/EBITDA · last month listed · Jun 2026
About Blackline Safety
Blackline Safety Corp is a connected safety monitoring technology company. The company develops, manufactures, and markets products and services that empower businesses with real-time safety insights to manage emergency responses, evacuations, and gas detection compliance programs. Its operating segments include the Product segment and the Service segment which generates the majority of the revenue for the company. Service revenues relate to connectivity, monitoring and data services that it provides to the customers of its safety devices and includes access to the Blackline Safety Cloud, compliance and analytics reports, SOC monitoring, two-way voice functionality and push to talk capability. Geographically, it derives revenue from Canada, Europe, United States and Rest of the World.
Founded
2006
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$110M (Apr 2026)
Valuation
$622M (acquired Apr 2026)
Blackline Safety Acquisition
Blackline Safety was acquired by Francisco Partners for $622M on 8 April 2026.
The acquisition price implies a 5.6x revenue multiple on $110M of revenue.
Francisco Partners agreed to acquire Blackline Safety Corp., the Calgary-based, TSX-listed connected safety technology company, in a take-private announced in April 2026. Shareholders are to receive CAD 9.00 in cash per share plus a contingent value right of up to CAD 0.50 per share, tied to a near-term annual recurring revenue target. The cash consideration implies a fully diluted equity value of about CAD 804 million, and about CAD 850 million including the maximum CVR payment, representing premiums of roughly 27% and 34% to the prior closing price. Blackline's largest shareholder DAK Capital, owned by Daryl Katz, the Lowy Family Group and chief executive Cody Slater agreed to roll over shares into the purchaser, covering about 31% of the outstanding shares. The transaction was expected to close in the second calendar quarter of 2026, after which the shares would be delisted. Blackline makes wearable gas detection devices, cellular and satellite connected safety hardware, and cloud software and analytics for industrial workers, with customers in more than 75 countries. It reported fiscal 2025 revenue of CAD 150.5 million and adjusted EBITDA of CAD 6.1 million.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 8 Apr 2026 | PE buyout | $622M | 5.6x |
Sources: franciscopartners.com, blacklinesafety.com
Blackline Safety as a Public Company
Blackline Safety traded as OTCM: BLKLF before it was taken private. Its acquisition was announced in April 2026. June 2026 is its last month on record as a listed company, with a market cap of $558M and an enterprise value of $535M.
Last-twelve-month revenue was $119M, with EBITDA of $7M (6% margin), and the shares traded at 4.5x EV/Revenue and 81.3x EV/EBITDA.
Over the 4 years before that, its market cap grew from $128M in June 2022 to $558M, while revenue grew from $54M to $119M.
Blackline Safety market cap while listed
Blackline Safety EV/Revenue (LTM) while listed
| As of | Market cap | Revenue (LTM) | EBITDA (LTM) | EBITDA margin | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Jun 2026 | $558M | $119M | $7M | 6% | 4.5x | 81.3x |
| Jun 2025 | $456M | $106M | $3M | 2% | 4.0x | 163.0x |
| Jun 2024 | $259M | $87M | ($6M) | -7% | 3.0x | (40.6x) |
| Jun 2023 | $166M | $70M | ($18M) | -26% | 2.3x | (8.6x) |
| Jun 2022 | $128M | $54M | ($12M) | -23% | 2.0x | (8.7x) |
Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month Blackline Safety traded.
Acquisitions by Blackline Safety
Blackline Safety has acquired 2 companies to date.
Last acquisition by Blackline Safety was on April 4th 2022. Blackline Safety acquired Swift Labs for $5M.
Latest Acquisitions by Blackline Safety
| Description | Swift Labs is a California-based engineering firm offering product design, testing, prototyping, and compliance certification services for electronics and hardware. It supports clients in developing consumer devices, medical equipment, and industrial tools from concept to market readiness. The company conducts environmental testing, electromagnetic compatibility assessments, and regulatory approvals for FCC and CE standards. Swift Labs operates advanced labs in the San Francisco Bay Area to accelerate time-to-market for technology startups and established manufacturers. | Wearable Technologies Limited is a UK-based manufacturer of intelligent clothing embedded with washable electronics and over 50 patents in fabric sensors. Products under the Visijax brand include heated jackets sold at Halfords, MoMA, and Dick's Sporting Goods, used by emergency services, military, and industrial workers. The company licenses tech to garment makers in oil & gas and construction, partnering with MediaTek, Orange, and Accenture for IoT connectivity. |
| HQ Country | ||
| HQ City | Kitchener | Leicester |
| Deal Date | 4 Apr 2022 | 16 Feb 2021 |
| Valuation | $5M | $1M |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Blackline Safety acquisitions and their M&A valuation multiples. Start Free Trial | ||
Blackline Safety Competitors
Blackline Safety competitors include listed companies like Queclink and Sercomm, and private ones like EigenCOMM, SkyCell, Pragmatic Semiconductor and proteanTecs.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $134M | $12M | $619M | 2.9x | ||
| Private | - | - | $628M | - | ||
| Private | - | - | $635M | - | ||
| Private | - | - | $637M | - | ||
| Private | $60M | - | $600M | 10.0x | ||
| Publicly listed | $1.6B | $81M | $588M | 0.3x |
Blackline Safety Public Comps
Blackline Safety is no longer listed, but its public comps include Queclink, Sercomm, MapmyIndia, Yuil Robotics, Ependion, Aeva, SENASIC Electronics Technology, Gemtek Technology, People & Technology and Yunding Technology.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $134M | $12M | 3.5x | 2.9x | 37.9x | 25.8x | |||
| $1.6B | $81M | 0.4x | 0.3x | 8.9x | 8.9x | |||
| $50M | $21M | 8.7x | 7.6x | 21.2x | 21.0x | |||
| $27M | ($17M) | 17.4x | - | (28.3x) | - | |||
| $227M | $64M | 2.3x | 2.0x | 8.3x | 9.7x | |||
| $18M | ($139M) | 39.9x | 25.0x | (5.2x) | (6.3x) | |||
| $72M | ($48M) | 8.9x | - | (13.4x) | - | |||
| $501M | $16M | 0.8x | - | 23.1x | - | |||
This data is available for Pro users. Sign up to see all Blackline Safety competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Blackline Safety
| When was Blackline Safety founded? | Blackline Safety was founded in 2006. |
| Where is Blackline Safety headquartered? | Blackline Safety is headquartered in Calgary, Canada. |
| Is Blackline Safety publicly listed? | No, Blackline Safety was acquired by Francisco Partners in April 2026. |
| Who acquired Blackline Safety? | Blackline Safety was acquired by Francisco Partners in April 2026. |
| How much was Blackline Safety acquired for? | Blackline Safety was acquired for $622M in April 2026, a 5.6x revenue multiple. |
| Which companies are comparable to Blackline Safety? | Companies comparable to Blackline Safety include Queclink, EigenCOMM, SkyCell, Pragmatic Semiconductor, proteanTecs and Sercomm. |
| What was Blackline Safety's market cap before the acquisition? | Blackline Safety had a market cap of $558M in June 2026, its last month on record as a listed company, trading at 4.5x EV/Revenue. |
| What was Blackline Safety's revenue as a public company? | Blackline Safety's last reported twelve-month revenue was $119M (June 2026), with EBITDA of $7M. |
| How many companies has Blackline Safety acquired? | Blackline Safety has acquired 2 companies, including Swift Labs and Wearable Technologies. |
| What was the largest acquisition by Blackline Safety? | The $5M acquisition of Swift Labs in April 2022 is the largest acquisition Blackline Safety has made to date. |
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