US Ecolab to acquire Champion Technologies in $2.2bn deal

12 October 2012 13:08  [Source: ICIS news]

HOUSTON (ICIS)--Ecolab has agreed to acquire specialty chemicals firm Champion Technologies in a deal valued $2.2bn (€1.7bn), the US-based producer said on Friday.

The acquisition includes Champion’s related company, Corsicana Technologies.

Houston-based Champion is a global specialty chemicals company focused on upstream, midstream, and downstream oil and gas markets. It employs a staff of 3,300.

“This transaction represents a rare opportunity to build on our position in a fast growing market by improving our geographic coverage and technology offerings,” said Ecolab CEO Douglas Baker.

“Champion’s technology and product strengths in the US and Canada are very complementary to our innovative technology and services in the offshore and international energy markets,” Baker added.

The transaction is expected to close by year-end.

Ecolab plans to pay for the acquisition through a mix of 75% cash and 25% stock, it said.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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