Specialty chemical and equipment manufacturer Betco Corporation, with a plant in Bowling Green, announced that it has entered into a binding agreement to acquire certain wastewater business assets from Novozymes A/S.
Novozymes is the world leader in biological solutions and the largest provider 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,” said Toby Jercovich, chief financial officer of Betco Corporation. “This acquisition will allow us to immediately fulfill a strategic growth initiative and provides a significant opportunity for long-term, accretive earnings.”
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 a large market share in the rapidly expanding water and environmental technologies space. The transaction will also broaden the products, services, and expertise offered by EnviroZyme, serving to further strengthen and differentiate its overall wastewater platform.
The acquisition will be fully funded at the targeted close date during the first quarter of 2023. Betco Corporation remains in a strong position to continue expansion of products and capabilities through organic and acquisition growth.
