Ecolab Inc. has entered into an agreement to acquire Purolite, a fast-growing global provider of ion exchange resins for the separation and purification of solution. Purolite also provides purification and separation solutions for industrial markets like microelectronics, nuclear power and food and beverage.
Based in King of Prussia, PA, Purolite operates in more than 30 countries and employs approximately 1,000 people worldwide, with expected 2021 sales of approximately $0.4 billion, according to an Ecolab press release. Purolite will operate as a separate global business unit and its overall results will be reported within Ecolab’s Life Sciences division.
The transaction is expected to close in the fourth quarter of 2021, subject to regulatory clearance and other customary closing conditions. No other details were announced.
Commenting on the transaction, Christophe Beck, Ecolab’s president and chief executive officer said, “With 2021 sales of $0.4 billion and mid-teens growth, Purolite is an acquisition that brings us a fast growing leader in biopharma and industrial purification solutions with very strong margins. With this transaction, we will significantly increase our opportunities in our high growth, high margin life sciences business, such as the purification of mRNA vaccines and monoclonal antibodies for cancer-treatment drugs.
Beck said the move will expand capabilities such as the polishing of advanced microelectronics, ultra-purification of water in nuclear power, food and beverage taste and product quality enhancement, high-end precious metals extraction, like lithium for EV batteries, as well as in the production of hydrogen fuel cells.
Ecolab expects to maintain its strong investment grade credit rating post-acquisition and is planning to return to ‘A range’ metrics in 2023.
