Cantel Medical pays $17m for Stericycle’s clean room biz

Cantel Medical (NYSE:CMN) said today that it paid $17 million in cash to buy the clean room maintenance business from Stericycle (NSDQ:SRCL).

The controlled environmental solutions business consists of the B&V Testing and Certco services, which provide testing & certification, environmental monitoring and decontamination services for clean rooms and other controlled environments. The CES business put up $8.9 million in sales last year, Little Falls, N.J.-based Cantel said.

“We are pleased that the CES business is now part of Cantel and welcome their employees to our team. Their services are highly complementary to our current portfolio of sterilization and disinfection products, and enable us to expand the complete circle of protection product offerings in our life sciences portfolio,” Cantel president & CEO Jorgen Hansen said in prepared remarks. “We’re excited about the attractive emerging market of clean room testing, certification and decontamination and are optimistic that this platform will position us well for meaningful growth in the future.”

“This acquisition allows us to better serve customers in the clean room products and services market,” added water purification & filtration president Curt Weitnauer. “By joining forces, we will enhance the value we provide to existing and future customers by coupling the CES business’ strong reputation for technical and service excellence with our expertise to deliver high-quality, and innovative infection prevention solutions.”

Cantel said it expects the CES business to add to its adjusted earnings per share during fiscal 2019, which ends July 31, 2019, and to as-reported EPS the following year.

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