Danaher Announces Definitive Agreement to Acquire ChemTreat
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WASHINGTON, May 24 /-- Danaher Corporation (NYSE:DHR) announced today that it has signed a definitive agreement to acquire ChemTreat Inc., a leading provider of water treatment products and services, for a cash purchase price of approximately $435 million including transaction costs and net of cash acquired.
H. Lawrence Culp, Jr., Danaher's President and Chief Executive Officer, said: "ChemTreat's world class sales and service organization will complement our current water quality offering and represents a natural adjacency to our existing water treatment business. Working together, we believe there will be significant opportunities to grow in this attractive segment of the water market and we are looking forward to having such a well-respected company join Danaher."
Headquartered in Glen Allen, Virginia, and with revenues of over $200 million in its most recent completed fiscal year, ChemTreat is a leading provider of industrial water treatment solutions for a broad set of end markets with a particular focus on boiler, cooling water and industrial waste water applications.
The transaction is subject to regulatory approval and customary closing conditions and is expected to be modestly accretive to 2008 earnings.
Danaher Corporation is a leading manufacturer of Professional Instrumentation, Medical Technologies, Industrial Technologies and Tools and Components. (http://www.danaher.com/)
Source: Danaher Corporation
CONTACT:Andy Wilson, Vice President, Investor Relations of Danaher,
+1-202-828-0850, Fax: +1-202-828-0860
Web site: http://www.danaher.com/
