Superior Plus Announces Acquisition of International Dioxcide

Superior Plus (TSX:SPB) has announced it has entered into an agreement to acquire all the issued and outstanding shares of International Dioxide from LANXESS.
As quoted in the press release:

IDI provides sodium chlorite based solutions including small-scale chlorine dioxide generation technology for biocidal and oxidative applications in municipal drinking water disinfection, cooling tower treatment, oil and gas fracturing, stimulation and odour control, rendering, paper machine slimicide, process water, wastewater treatment and food processing. The purchase price will be funded by drawing on Superior’s existing credit facility. The acquisition of IDI is anticipated to close during the fourth quarter of 2017, subject to the satisfaction of certain customary commercial conditions.
“The acquisition of IDI enables our Specialty Chemicals business to vertically integrate its sodium chlorite production with the end customer applications and solutions that IDI offers,” said Luc Desjardins, Superior’s President and CEO. “The IDI acquisition is our fifth acquisition of 2017, which is above the high end of our Evolution 2020 target, and we continue to evaluate opportunities available to grow both our Energy and Chemicals businesses through tuck-ins.”
“The IDI business fits well with our business and further solidifies ERCO’s product offering within sodium chlorate, sodium chlorite and chlorine dioxide,” said Ed Bechberger, President of Superior’s Specialty Chemicals business. “ERCO and IDI have worked together successfully for over 25 years. IDI was a key ERCO customer for sodium chlorite and this transaction is a natural evolution for this long-standing and rewarding business relationship.”

Click here to read the full press release.