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Betco to acquire certain assets of Novozymes' wastewater business
US-based speciality chemical and equipment manufacturer Betco Corporation has entered into a binding agreement to acquire certain wastewater business assets from Novozymes A/S.
Novozymes is a world leader in biological solutions and one of the largest providers of enzyme and microbial technologies to improve industrial performance while preserving the planet's resources.
Subject to customary closing conditions and adjustments, this will be Betco's second acquisition in the bioaugmentation field, having purchased EnviroZyme in 2015. A fully owned subsidiary of Betco Corporation, EnviroZyme is a top provider of bacteria-based treatment solutions for a variety of environmental, water, and waste treatment applications, complete with downstream packaging solutions and fermentation capabilities in an FDA-registered, state-of-the-art manufacturing facility.
"Novozymes has an outstanding portfolio of wastewater customers and product solutions that complements our existing EnviroZyme business and facilitates access into new markets globally," says Toby Jercovich, Betco's chief financial officer. "This acquisition will allow us to immediately fulfil a strategic growth initiative and provides a significant opportunity for long-term, accretive earnings."
The company says that the integration of Novozymes' wastewater business unit will transform EnviroZyme into the world's leading provider of bioaugmented solutions for water resource recovery. With each party's deep geographical reach and dominant positions in key regions, the combined business will capture momentous market share in the rapidly expanding water and environmental technologies sector. The transaction will also broaden the products, services, and expertise offered by EnviroZyme, serving to further strengthen and differentiate the company's overall wastewater platform.
The acquisition will be fully funded at the targeted close date during the first quarter of 2023. Betco says it remains in a strong position to continue expansion of products and capabilities through organic and acquisition growth.
6th October 2022