ChargePoint Technology has acquired Terracon Corporation, a single-use product and accessory manufacturer used in the biopharma and life science sector.
The deal sees powder transfer firm ChargePoint pay an undisclosed fee for Terracon, a company that designs, develops, and produces single-use products and accessories that can be used for transferring, mixing, and storing liquids and fluids.
According to ChargePoint, the acquisition “brings us into the liquid and fluids handling space, which crosses over from a processing perspective with our AseptiSafe and single-use product ranges.â€
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It also “establishes a manufacturing presence in the North American market and gives us a substantial base to build and expand our US Operations fulfilling our strategic plans. [It] expands our sales team within US to be closer to the customers [and] expands Terracon’s global sales potential through our sales organization and channels.â€
The firm claims the acquisition will collectively support customers of ChargePoint and Terracon, using a wide range of collaborative solutions in liquid, powder, and fluid transfer equipment.
“Terracon has vast technical expertise in liquid and fluid mixing, transfer, and storage with a broad portfolio of products that customers rely on for critical process applications,†said Chris Eccles, CEO of ChargePoint.
“With its extensive product knowledge and application-engineered solutions as well as its relentless customer focus, Terracon offers leading solutions to highly regulated segments, including biopharma and ultra-pure water, along with several other high-value markets.
No right time
Additionally, through the acquisition, ChargePoint told us it will gain Terracon’s facility located in Franklin, Massachusetts but would not divulge any specific details regarding Terracon employees.
“M&A was always in our strategic growth plans, having the right partner in place to achieve our growth plans was the reason for bringing [Terracon] on board. There was no right time as such,†said ChargePoint.