Loveland-based Hach Co. completes acquisition of Sutron

LOVELAND — A Loveland-based manufacturer of analytical instruments used for water testing has successfully completed acquisition of a data-collection company based in Sterling, Va.

Hach Co. announced Tuesday that it had acquired the shares of Sutron Corp. (Nasdaq: STRN) through its affiliate, Satellite Acquisition Corp. That purchase means Satellite Acquisition owns about 91.3 percent of Sutron’s outstanding shares and thus can complete and close the merger and acquisition of Sutron without stockholder approval.

As part of the acquisition, Sutron’s shares no longer will be traded, and any outstanding shares will be paid off in cash at $8.50 per share, minus fees and withholding taxes.

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Hach, a unit of Danaher Corp., announced last year that it wanted to build a new research and development center either in Loveland or abroad. Loveland and Larimer County assembled incentive packages to keep Hach in the area, and the Colorado Economic Development Commission approved $2 million in state job-growth incentives if Hach would staff the new center locally with 204 jobs.

Spokespeople for Hach and its Washington, D.C,-based public relations firm were unavailable for comment by BizWest’s deadline.