$2.2bn speciality chemicals acquisition

Family-owned US speciality chemical company Champion Technologies, which focuses on products and services for oil and gas production, is to be bought for $2.2 billion (£1.4 billion). The buyer is Ecolab, a large US company involved in a wide range of markets, including water purification, hygiene products and energy technology. Ecolab made 2011 sales of $11 billion (including sales at chemical company Nalco, which Ecolab bought in 2011). Champion is based in Houston, Texas, and employs 3300 people. In 2011, it made sales of $1.2 billion.