Ecolab acquires Champion Technologies for $2.2 billion
ST PAUL, Minn. — Ecolab Inc. has agreed to acquire Champion Technologies and its related company Corsicana Technologies in a transaction valued at approximately $2.2 billion.
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.
“This is a compelling strategic deal that provides us the possibility to fully capitalize on significant energy market opportunities around the world,” said Steve Lindley, Champion Technologies’ chairman. “We have always regarded Ecolab’s Nalco Global Energy Services as a leader in this marketplace with a similar culture and like-minded focus on serving the customer. We look forward to working together with Ecolab to realize the benefits for all of our stakeholders, including our customers and employees.”
Closing is expected to occur by year-end 2012.