Ecolab buying Champion Technologies in $2.2B deal

October 12, 2012

Ecolab, the cleaning, food safety and pest-control services company, is buying the specialty chemical company Champion Technologies in a cash-and-stock deal valued at about $2.2 billion.

Ecolab Chairman and CEO Douglas Baker Jr. said in a statement Friday that the transaction will help expand its geographic reach and enhance its technology offerings.

"Champion's technology and product strengths in the U.S. and Canada are very complementary to our and services in the offshore and international energy markets," he said.

St. Paul, Minn.-based Ecolab Inc. will pay approximately $1.7 billion in cash and issue about 8 million shares of its stock as part of the buyout. Ecolab shares closed at $63.67 per share on Thursday, valuing that portion of the deal at $509 million.

Privately held Champion Technologies is based in Houston and has about 3,300 employees. Its 2011 sales were $1.2 billion.

The deal, which also includes Corsicana Technologies, is expected to close by year's end. It is expected to add to Ecolab's earnings in 2013.

Ecolab also said Friday that it expects third-quarter adjusted of 87 cents per share, at the high end of prior guidance for 83 cents to 87 cents per share.

Analysts polled by FactSet expected 87 cents per share.

Ecolab will report its third-quarter financial results on Oct. 30.

Explore further: Qualcomm 3Q results beat Wall Street estimates


Related Stories

Qualcomm 3Q results beat Wall Street estimates

July 20, 2011

(AP) -- Wireless chip-maker Qualcomm Inc.'s results for the latest quarter beat Wall Street's expectations, and its projections for the current quarter are also above analysts' estimates.

CenturyLink 3Q net income falls as expenses rise

November 2, 2011

(AP) -- Phone company CenturyLink Inc. says its third-quarter net income fell as rising operating expenses related to its April acquisition of larger phone company Qwest overshadowed increased revenue.

Activision 3Q earnings soar, 2011 outlook raised

November 8, 2011

(AP) -- Activision Blizzard Inc. said Tuesday that its third-quarter net income nearly tripled thanks to strong demand for its video games. The company also raised its full-year outlook on the heels of Tuesday's launch of ...

Cisco beats estimates with 2Q earnings, sales (Update)

February 8, 2012

(AP) -- Cisco, the world's largest maker of computer networking equipment, on Wednesday said that its net income jumped 44 percent in the latest quarter as it continues to put last year's slump behind it.

Recommended for you

On soft ground? Tread lightly to stay fast

October 8, 2015

These findings, reported today, Friday 9th October, in the journal Bioinspiration & Biomechanics, offer a new insight into how animals respond to different terrain, and how robots can learn from them.


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.