Audax Private Equity has agreed to acquire Ecolab Inc’s equipment care business. No financial terms were disclosed.
ST. PAUL, Minn.–(BUSINESS WIRE)–Ecolab Inc. announced it has agreed to sell its Equipment Care business to Audax Private Equity, a Boston, Mass.-based private equity firm. Equipment Care had 2016 sales of $180 million. Completion of the transaction is subject to regulatory clearance and is expected to close in the fourth quarter. No further details were disclosed.
Ecolab Chairman and Chief Executive Officer Douglas M. Baker, Jr. commented, “This sale enables us to sharpen our strategic focus on our core businesses, while assuring Equipment Care customers will receive excellent ongoing service. In addition, our Equipment Care colleagues will benefit from Audax’s focus on the business and will have access to resources that will support future growth. We thank them for their many contributions and wish them every success in the future.”
A trusted partner at more than one million customer locations, Ecolab (ECL) is the global leader in water, hygiene and energy technologies and services that protect people and vital resources. With 2016 sales of $13 billion and 48,000 associates, Ecolab delivers comprehensive solutions and on-site service to promote safe food, maintain clean environments, optimize water and energy use, and improve operational efficiencies for customers in the food, healthcare, energy, hospitality and industrial markets in more than 170 countries around the world. For more Ecolab news and information, visit www.ecolab.com. Follow us on Twitter @ecolab or Facebook at facebook.com/ecolab.