Chart Industries, Inc. acquired BlueInGreen, LLC for $26 million.
November 02, 2020
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Chart Industries, Inc. (NasdaqGS:GTLS) acquired BlueInGreen, LLC for $26 million on November 3, 2020. The stock purchase was completed for a purchase price of $20 million in cash at closing (subject to customary adjustments), plus a potential earn-out not to exceed $6 million in the aggregate. Chris Milligan, BlueInGreen Chief Executive Officer, will run Chart Industries combined water business effective immediately. The acquisition is expected to be immediately accretive to Chart Industries. Matt Stevens, Pejman Sharifi and Laura Franco of Winston & Strawn LLP served as legal advisor to Chart Industries, Inc. on this transaction. Boenning & Scattergood, Inc. served as financial advisor and Smith Hurst, PLC acted as legal advisor to BlueInGreen, LLC and its Board of Members.
Chart Industries, Inc. (NasdaqGS:GTLS) completed the acquisition of BlueInGreen, LLC on November 3, 2020.
Chart Industries, Inc. is a manufacturer of engineered cryogenic equipment servicing multiple market applications in the industrial gas and energy industries. Its segments include Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair Service & Leasing. Its Cryo Tank Solutions segment supplies bulk, microbulk and mobile equipment used in the storage, distribution, vaporization, and application of industrial gases and certain hydrocarbons. Its Heat Transfer Systems segment supplies engineered equipment and systems used in the separation, liquefaction, and purification of hydrocarbon and industrial gases. Its Specialty Products segment supplies products used in specialty end-market applications, including hydrogen, liquid natural gas, biofuels, CO2 Capture, food and beverage, aerospace, lasers, cannabis and water treatment, among others. Its Repair, Service & Leasing segment provides installation, service, repair, maintenance, and refurbishment of cryogenic products.