Skip to main content
Updated:
Original:

Ecolab completes sale of vehicle care unit, amends Champion deal

Author:

St. Paul-based Ecolab Inc., provider of commercial and industrial cleaning products and services, has finalized the sale of its vehicle care business to Zep Inc., the Star Tribune reports. The Atlanta-based maker of cleaning and maintenance supplies purchased the operation for about $120 million.

"We expect the combination of our respective sales organizations with best-in-class vehicle care solutions will allow us to capitalize on growth opportunities in the $1 billion U.S. vehicle care marketplace in a way that is accretive to earnings," John Morgan, Zep's CEO, said in a news release. "Furthermore, the attractive cash flow generation of our overall business will allow us to focus efforts on quickly reducing debt in a meaningful way."

Meanwhile, Ecolab has amended its acquisition agreement with the parent company of Houston-based Champion Technologies and Corsicana Technologies. According to a company news release, Ecolab will not acquire Champion's downstream process and water solutions business. The value of the transaction will also be reduced to $2.16 billion from $2.2 billion, which was announced in October.

In November, the U.S. Department of Justice asked Ecolab for more information regarding its plan to acquire Champion Technologies.

Ecolab still expects the acquisition to close before the end of the year, subject to regulatory clearance and other customary closing conditions.

Next Up

Screen Shot 2021-11-25 at 7.53.37 AM

Another 5,000 lbs. of goldfish removed from Carver County lakes

It all likely stemmed from people dumping their pets into local waters a few years ago.

Rosaleia Shelton

Appeal to find 19-year-old missing from Bloomington

The teen left her home on Monday afternoon.

hospital, emergency room

Deaths of twin fetuses after woman was shot ruled a double homicide

The woman was shot in the abdomen in mid-September.

Payton Willis / Gopher Basketball

Gophers improve to 5-0 with win over Jacksonville

The Gophers are establishing momentum early in the season.

Anthony Edwards

Ant's massive slam leads Timberwolves to fifth straight win

The dunk didn't count, but provided the highlight of the night.

Cam Talbot / Minnesota Wild

WIld arrive late, Cam Talbot stays on point to beat Devils

Despite a 30-minute delay, the Wild picked up a 3-2 victory.

Screen Shot 2021-11-24 at 4.10.54 PM

Appeal to find 35-year-old missing from Oak Grove home

Police say he's not believed to be in danger.

vote, election

7 MN Republicans urge states to audit 2020 election results

There has been no evidence of significant fraud in any single U.S. state.

child vaccine pexels

How many MN kids age 5-11 have received a COVID vaccine dose?

The governor says the state has one of the highest child vaccination rates in the U.S.

police lights

Seven juveniles arrested in connection with stolen vehicles in Woodbury

Woodbury authorities have issued a warning following a spate of auto thefts.

police lights squad car dark - Unsplash

1 dead after driver crashes into stalled vehicle on shoulder

The vehicle stopped on the side of the road was unoccupied at the time.

Related

Ecolab to sell Vehicle Care operations for $120M

St. Paul-based Ecolab has agreed to sell all assets of its vehicle care business to Atlanta-based Zep Inc. for $120 million in cash, the Star Tribune reports. Zep makes cleaning and maintenance solutions for commercial, industrial, institutional and consumer end-markets.