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I&I leader to spend $2.2 billion for Champion Technologies.
October 12, 2012
By: TOM BRANNA
Editor
Is the industrial and institutional cleaning market running out of steam? Why else would I&I leader Ecolab spend $2.2 billion to acquire Champion Technologies, a global energy specialty products and services company? With the I&I category growing at the same rate as the anemic US economy, Ecolab is looking elsewhere for growth. “This transaction represents a rare opportunity to build on our position in a fast growing market by improving our geographic coverage and technology offerings. As a premier company and proven innovator committed to delivering outstanding technology and service,” said Douglas M. Baker Jr., chairman and CEO, Ecolab. “Champion represents a very attractive business that opportunistically became available, enabling us to acquire an outstanding operator. 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. We are excited by the additional solutions we will be able to bring to our customers and the strong growth potential this opportunity offers for our combined operations as we continue to target the “new energy” opportunities which require significantly more of the products and services that both we and Champion provide.” More info: www.ecolab.com
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