Ecolab resolves concerns over Champion Technologies purchase

U.S. Justice Department concerns about Ecolab's $2.2 billion deal for a Texas firm in the oil and gas industry have been resolved, the company says.

Last October, Ecolab agreed to acquire Champion Technologies, which helps energy companies tap oil and gas deposits that are harder to access and require more processing to remove impurities.

But the Justice Department said combining Champion with Nalco, a prior Ecolab acquisition, would combine two of the leading providers of chemical management services for deepwater wells in the Gulf of Mexico.

Ecolab spokesman Michael Monohan said the company is adjusting the deal to exclude elements that worried the federal government. The settlement affects about 3 percent of Champion's business, Ecolab says.

Piper Jaffray analyst Michael Ritzenthaler says Ecolab gets most of what it wants.

"It seems like Ecolab's strategy -- driving their acquisition of Champion, namely increased exposure to things like oilfield production chemicals and water treatment -- is untouched," Ritzenthaler said.

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