Ecolab, the cleaning, food safety and pest-control services company, is buying the specialty chemical company Champion Technologies in a cash-and-stock deal valued at about $2.2 billion. Ecolab chairman Douglas Baker Jr. said the transaction will help expand its geographic reach and enhance its technology offerings. "Champion's technology and product strengths in the U.S. and Canada are very complementary to our innovative technology and services in the offshore and international energy markets," he said. Ecolab Inc. will pay about $1.7 billion in cash and issue about eight million shares of its stock as part of the buyout. Privately held Champion Technologies is based in Houston and has about 3,300 employees. Its 2011 sales were $1.2 billion.
