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On October 28, Ecolab announced that it will pay US$3.
7 billion (approximately RMB 23.
6 billion) in cash to acquire Purolite, a manufacturer of ion exchange resins, and the transaction is expected to be completed in the fourth quarter of 2021
.
Headquartered in Pennsylvania, USA, Purolite manufactures ion exchange resins for separation and purification for customers in the biopharmaceutical, microelectronics, nuclear power, food and beverage industries
.
Purolite operates in more than 30 countries, employs approximately 1,000 people, and is expected to generate approximately $400 million in 2021 revenue
.
Ecolab said Purolite's revenue has grown at an annual rate of 14% over the past five years, with double-digit growth in biopharmaceutical applications and high-single-digit growth in industrial applications such as microelectronics and food and beverage
.
About 40% of revenue is derived from the fast-growing life sciences end market, with a compound annual growth rate of 40% over the past 5 years
.
Ecolab said the transaction will significantly increase its opportunities in high-growth, high-margin life sciences businesses, such as mRNA vaccines and purification of monoclonal antibodies for cancer treatments
.
