ATC/Novan Moves to Buy 2 Treatment Companies

American Toxxic Control/Novan Energy Inc., a Newport Beach toxic waste treatment company, said that it has reached tentative agreements to acquire two private toxic treatment companies.

Chairman Louis E. Purmort said that Industrial Water Treatment of Los Angeles would be purchased for stock and that Lyco Inc. of Marlboro, N.J., would be bought with a combination of cash and ATC/Novan stock. Exact purchase prices were not disclosed.

Purmort said the company has targeted for acquisition a total of nine private companies in different areas of toxic control, adding that it plans to form them into one company able to handle all areas of toxic waste control. He said ATC/Novan has contacted the companies and that it hopes to complete the purchases within 1 1/2 to two years. He added that the nine companies, which include Industrial Water Treatment and Lyco, have combined revenues in excess of $104 million.

With Industrial Water Treatment, ATC/Novan will gain a system that purifies water and removes toxics associated with the chemical, power, oil and process industries. The Lyco purchase will give the company Rotating Biological Contactors, which destroy contaminants in waste water. The acquisitions of the two companies should be final by the end of the year, Purmort said.

The American Toxxic Control/Novan Energy Inc. merger, which was announced in June, should be final by Jan. 1, Purmort added.