OTTAWA (dpa-AFX) - Ecolab, Inc. (ECL) announced Tuesday a definitive agreement to acquire Ovivo, Inc.'s Electronics Ultra-Pure Water business, a provider of breakthrough ultra-pure water technologies for semiconductor manufacturing.
The acquisition will further strengthen Ecolab's global high-tech growth engine by bringing together Ovivo's ultra-pure water technologies with Ecolab's leading water solutions, digital technologies and global service capabilities.
The combined technology platform will enable Ecolab to expand its offerings to provide circular water management solutions for its microelectronics customers designed to significantly reduce fresh water use in their manufacturing process while maximizing chip production and quality.
Ovivo Electronics is expected to generate sales of $500 million in 2025 and currently employs more than 900 people worldwide. Ecolab will pay approximately $1.8 billion in cash at the closing of the transaction, subject to customary adjustments.
The acquisition is expected to close in the first quarter of 2026, subject to the parties obtaining regulatory clearance and satisfaction of other customary closing conditions.
The acquisition is expected to generate double-digit returns and is anticipated to be immediately accretive to Ecolab's sales growth.
During the first year post-acquisition, Ecolab expects the acquisition will be neutral to adjusted earnings per share, excluding approximately $45 million of non-cash amortization costs. Contribution to adjusted earnings per share is expected to build through 2027 and beyond.
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