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 â€śbrings us into the liquid and fluids handling space, which crosses over from a processing perspective with our AseptiSafe and single-use product ranges.â€ť
It also â€śestablishes 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 Terraconâ€™s global sales potential through our sales organization and channels.â€ť
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,â€ť saidÂ Chris Eccles, CEO of ChargePoint.
â€śWith 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 Terraconâ€™s facility located in Franklin, Massachusetts but would not divulge any specific details regarding Terracon employees.
â€śM&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,â€ť said ChargePoint.