Specialty chemicals and equipment maker Betco Corporation, with a plant in Bowling Green, announced that it had entered into a binding agreement to acquire certain assets of the wastewater treatment business of Novozymes A/S.
Novozymes is the world leader in biological solutions and the largest supplier of enzymatic 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 bio Augmentation space, following the acquisition of EnviroZyme in 2015. A wholly owned subsidiary of Betco Corporation, EnviroZyme is a leading provider of bacteria-based treatment solutions for a variety of environmental, water and waste treatment applications, with downstream packaging solutions and fermentation capabilities in FDA registered state. – state-of-the-art manufacturing facility.
“Novozymes has an outstanding portfolio of wastewater product solutions and customers that complement our existing EnviroZyme business and facilitate access to new markets globally,” said Toby Jercovich, Chief Financial Officer of Betco. Corporation. “This acquisition will allow us to immediately realize a strategic growth initiative and provides a significant opportunity for long-term accretive earnings.”
The integration of Novozymes’ wastewater business unit will make EnviroZyme the world’s leading provider of bioaugmented solutions for water resource recovery. With each party’s extensive geographic reach and dominant positions in key regions, the combined business will capture a large market share in the rapidly expanding water and environmental technologies space. . The transaction will also expand the products, services and expertise offered by EnviroZyme, serving to further strengthen and differentiate its global wastewater treatment platform.
The acquisition will be fully funded by the expected closing date in the first quarter of 2023. Betco Corporation remains in a strong position to continue expanding products and capabilities through organic and acquisition growth.