Ecolab Inc. (NYSE: ECL) will buy Champion Technologies and its affiliate, Corsicana Technologies, for $2.2 billion.
Champion is a Houston-based energy products and services company, serving the oil and gas industry. The sale is subject to regulatory approval. Corsicana manufactures specialty chemicals, such as drilling fluids, pressure-pumping additives and agricultural-product additives.
The company will pay about $1.7 billion in cash and issue eight million shares of common stock to make up the purchase price.
Ecolab, based in St. Paul, Minn., creates products that improve food safety, provide retail and lodging cleaning services, as well as facility care.
Ecolab purchased Nalco Holding Co. in November 2011 from a private equity group that included Blackstone Group, Apollo Management LP and Goldman Sachs Capital Partners. Terms were not disclosed.