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Two Puget Sound companies that make water treatment products have joined forces to expand their product lines and profits.
Vanson Inc. of Redmond and HaloSource Corp. of Seattle have merged to create Vanson HaloSource. The combined company consolidated operations in Redmond last week.
Vanson HaloSource will continue to serve the water treatment market, but also plans to increase its offerings in the biomedical and consumer products areas.
"It was the water treatment market that drew us together," said Jeff Williams, founder and former chief executive of HaloSource, who is now chief technology officer of the combined company. "But not only were there technical parallels (between the two companies), but our markets overlapped."
Vanson HaloSource's growth will be funded by a $4 million round of venture capital investment which is expected to close in late June. The round is being led by Alexander Hutton Venture Partners, which brought the two companies together in the fall to discuss a possible merger. The venture capital fund also provided part of a $1.6 million bridge financing for HaloSource last year....