Ecolab to Acquire Champion Technologies for $2.2B
Ecolab (NYSE: ESL) announced that it has agreed to acquire privately held
Champion Technologies and its related company Corsicana Technologies
(hereafter collectively referred to as Champion) in a transaction valued
at approximately $2.2 billion, to be paid through a mix of approximately
75% cash and 25% stock. Champion is a Houston, Texas-based global energy
specialty products and services company with approximately 3,300
employees in more than 30 countries delivering product and service-based
offerings to the oil and gas industry. 2011 sales were $1.2 billion.
Closing is expected to occur by year-end 2012, subject to regulatory
clearance and other customary closing conditions.
Douglas M. Baker, Jr., Ecolab's Chairman and Chief Executive Officer
commented on the announcement,