Purification Technologies of Chester has been acquired by VWR. Financial details were not announced.
Purification Technologies Inc. is a specialty solvent company that performs high-volume purification and repackaging of selected solvents. Its purified solvents are sold under the tradename PrecisionPure. According to its website, Purification Technologies sells highly purified solvents in bulk tankwagons (up to 45,000 pounds or 6,000 gallons) and isotankers (up to 35,000 pounds or 5,000 gallons). Its leading product is acetonitrile. Other products are methanol and ultra low water propylene carbonate.
VWR, headquartered in Radnor, PA, is a global, independent provider of laboratory products, services and solutions with revenue in excess of $4.3 billion in 2014. Its net income was $152 million.
“PTI’s solvent purification expertise and process capabilities improve access to a key solvent line and enhances our portfolio of high purity products available to our customers,” said Manuel Brocke-Benz, CEO of VWR, in a statement. “Our customers in the chromatography, biochemical and agrochemical industries will benefit through VWR’s ability to supply high purity Acetonitrile and other solvents in both bulk and lab scale quantities.”
Its stock history shows VWR is trading below its 52-week high of $28.83. It opened at 25.69 today, which puts it well ahead of its 52-week low of $20.60. Its price-to-earnings ratio is 14.55. VWR is currently valued at $3.38 billion.
