After Closing Nalco Deal, Ecolab Buys Italian Co.
Less than a week after closing on its $8.3 billion acquisition of Nalco Holding Company, Ecolab, Inc. has announced another purchase.
The St. Paul-based company said Monday that it has acquired Esoform, an Italian company that makes products used in personal care and for fighting infections. Financial terms of the deal were not disclosed.
Esoform-based outside of Venice-has about $12 million in annual revenue, and Ecolab said that the deal will help expand its global health care business.
“Esoform brings us a state-of-the-art . . . manufacturing facility which enables significant product supply efficiencies,” Ecolab Chairman and CEO Douglas Baker, Jr., said in a statement. “We also gain new technology that can be leveraged across our European business along with a strong position in Italy's health care market.”
The announcement of this latest acquisition comes four days after Ecolab closed on a deal to buy Nalco, a Naperville, Illinois-based water-treatment provider. According to Ecolab, the post-merger company will serve more than 160 countries and have combined 2011 sales in excess of $11 billion. Ecolab is already among Minnesota's 15-largest public companies based on revenue, which totaled $6.1 billion in 2010.
Meanwhile, The Wall Street Journal reported Monday that Ecolab recently tapped the corporate bond market, selling bonds worth $3.75 billion in a four-part offering. Ecolab sold the bonds to raise money to repay outstanding commercial paper borrowings and for general corporate purposes, according to The Wall Street Journal.
Ecolab offers cleaning, sanitizing, food safety, pest control, and infection prevention products and services to foodservice, food and beverage processing, health care, and hospitality markets.