Chart Industries Acquires Worthington Industries' Cryogenic and Hydrogen Trailer Business

Chart Industries Invests $25M for 5% Stake in Transform Materials

March 31, 2021

Energy

Chart Industries completed a $25 million minority investment to acquire a 5% equity stake in Transform Materials and signed a commercial Memorandum of Understanding to supply equipment for Transform projects. The investment gives Chart access to Transform's microwave-plasma process for producing hydrogen and acetylene, expanding Chart's clean-hydrogen equipment and service offerings and supporting planned plant builds in North America and Europe.

Chart Industries Acquires Fronti Fabrications

May 31, 2022

Manufacturing

Chart Industries, Inc. completed the acquisition of Fronti Fabrications, Inc. for $20 million. The purchase adds Fronti’s Allentown, Pennsylvania cryogenic fabrication capabilities to Chart’s operations, increasing Chart’s under-roof cold box fabrication capacity by roughly 25% and improving delivery lead-times for LNG, hydrogen and helium liquefaction projects.

Milton Street Capital Forms IC Biomedical by Acquiring Worthington Life Sciences Business and International Cryogenics

November 2, 2020

Medical Devices

Milton Street Capital, a Houston-based private equity firm, acquired the Life Sciences business of Worthington Industries (Theodore, AL) and International Cryogenics, Inc. (Indianapolis, IN) and combined them to form IC Biomedical. The new company will be led by Steve Shaw (CEO) and Jim Hoppel (CFO) and will focus on manufacturing cryogenic storage freezers, dewars and shippers for biomedical, pharmaceutical and research markets.

TransTech Group Acquires Cryogenic Technology Resources (CTR)

September 26, 2024

Industrial Services

TransTech Group, a portfolio company of Bridge Industries, has acquired Cryogenic Technology Resources (CTR) to expand its cryogenic systems, fabrication, service and automation capabilities. The deal strengthens TransTech’s end-to-end offering for industrial gas, air separation, and related end markets while expanding geographic reach and service capacity.

Chart Industries Acquires Howden for $4.4 Billion

November 9, 2022

Manufacturing

Chart Industries has agreed to acquire Howden from affiliates of KPS Capital Partners, LP for $4.4 billion, creating a combined business with estimated pro forma revenue of approximately $3.4 billion. The deal expands Chart's engineered equipment and process-technology portfolio into air and gas handling, strengthens aftermarket service exposure, and targets substantial cost and commercial synergies; the transaction closed on March 17, 2023.

Chart Industries Acquires BlueInGreen, LLC

November 3, 2020

Environmental Services

Chart Industries (NASDAQ: GTLS) completed the acquisition of BlueInGreen, LLC, a water cleantech company specializing in dissolved-gas solutions for water treatment, for $20 million in cash plus a potential earn-out. The purchase expands Chart’s water-treatment and service capabilities by combining Chart’s cryogenic and gas delivery equipment with BlueInGreen’s gas-dissolution technology and TaaS/service offerings to serve municipal and industrial end markets.