Transaction expected to close during third quarter; Ecolab associates based in downtown St. Paul will relocate
ST. PAUL, Minn.--(BUSINESS WIRE)-- Ecolab Inc., the global leader in water, hygiene and energy technologies and services, has signed a purchase agreement to acquire the 17-story North Tower from Travelers in downtown St. Paul, Minn. The transaction is expected to close in the third quarter, and by the end of 2018, Ecolab will relocate all associates from the three buildings that comprise its world headquarters in downtown St. Paul to the North Tower. Financial terms of the agreement are not being disclosed.
"This move affirms our long-standing commitment to downtown St. Paul," said Ecolab Chairman and CEO
Douglas M. Baker, Jr. "We're excited that we're able to bring all of our downtown employees together in one location, which will become the new world headquarters for Ecolab."
Constructed in 1999, the North Tower has 882,000 square feet of space, of which 484,500 square feet comprises office space, a data center, and building common areas. Amenities include a large cafeteria, on-site day care, under-the-building parking and access to the complex's fitness center in the South Tower.
Ecolab will begin the process of relocating associates to the North Tower in the latter part of this year.
Ecolab's presence in St. Paul dates back to the company's founding in 1923. In 1933, the company moved its headquarters from University Avenue to the Globe Building in downtown St. Paul, and in 1939, Ecolab's headquarters moved again to the Guardian Building, which was located at the intersection of Fourth and Minnesota. In 1968, the company moved to its current downtown St. Paul location at 370 Wabasha Street.
Ecolab currently occupies three buildings on Wabasha Street: the 19-story Ecolab Corporate Center, 15-story Ecolab University Center and six-story Ecolab Global Communications Center. Combined, the three buildings comprise more than 460,000 square feet.
A trusted partner at more than one million customer locations, Ecolab (ECL) is the global leader in water, hygiene and energy technologies and services that protect people and vital resources. With 2014 sales of $14 billion and 47,000 associates, Ecolab delivers comprehensive solutions and on-site service to promote safe food, maintain clean environments, optimize water and energy use, and improve operational efficiencies for customers in the food, healthcare, energy, hospitality and industrial markets in more than 170 countries around the world.
For more Ecolab news and information, visit www.ecolab.com. Follow us on Twitter @ecolab or Facebook at facebook.com/ecolab.
Roman Blahoski, 651-250-4385