Ecolab Sells Equipment Care Business To Audax
Ecolab Inc. has completed the sale of its Equipment Care business to Audax Private Equity, the Boston-based firm which previously owned TriMark USA. Equipment Care, Ecolab’s equipment service arm, had 2016 sales of $180 million.
The transaction, subject to regulatory clearance, is expected to close in the fourth quarter. No further details were disclosed.
With the sale, Ecolab will sharpen its strategic focus on core businesses, according to the St. Paul, Minn., company’s Chairman and CEO Douglas Baker Jr. “Our Equipment Care colleagues will benefit from Audax’s focus on the business and will have access to resources that will support future growth,” he added.
Ecolab had 2016 sales of $13 billion.