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Awards

Toro receives WaterSense award

The U.S. Environmental Protection Agency awarded Bloomington-based Toro Co. with a WaterSense Excellence Award at the 10th annual WaterSmart Innovations Conference and Exposition in Las Vegas on Oct. 5. Toro became an EPA WaterSense partner in 2014 and in the past two years has been recognized by the agency for excellence in education and outreach including its sponsorship of a weekly radio program on water conservation, “The Water Zone.”

Mergers and aCQUISITIONS

Ecolab sells Equipment Care to Audax

Ecolab Inc., St. Paul, announced that it has made a deal to sell its Equipment Care business to Audax Private Equity, Boston. Ecolab’s Equipment Care had 2016 sales of approximately $180 million. Terms of the transaction were not disclosed. The deal is expected to be finalized in the fourth quarter.

Black Ridge completes unit offering

Black Ridge Acquisition Corp., Minneapolis, completed its initial public offering of 12 million units on Tuesday. Units consist of the right to receive one-tenth of one share of common stock and one warrant entitling the holder to purchase one share of common stock at $11.50 per share.

Units were sold at an offering price of $10 per unit; proceeds from the unit offering were $120 million.