Ecolab to Buy O.R. Solutions for $260M
St. Paul-based Ecolab announced Friday that it has entered into an agreement to purchase Chantilly, Virginia-based O.R. Solutions, Inc., for $260 million.
O.R. Solutions, which has about $55 million in annual sales, develops and markets surgical fluid warming and cooling systems and custom-fit sterile drapes. The company's custom-fit sterile drapes account for about 85 percent of its total sales.
Ecolab said that the acquisition, which is subject to customary closing conditions, is expected to increase its 2011 earnings.
“The acquisition will strengthen our position in infection prevention, build on our surgical barrier platform, and expand our solutions for the operating room,” Douglas M. Baker, Jr., Ecolab's chairman, president, and CEO, said in a statement. “It will also bring a strong sales and service team, adding depth and expertise to our business.”
Ecolab, founded in 1923, manufactures and distributes cleaning and maintenance products for the hospitality, institutional, and industrial markets. It is among Minnesota's 20-largest public companies based on revenue, which totaled $5.9 billion in 2009. The company employs more than 26,000 people.