Chart Industries, Inc. completed the acquisition of Sustainable Energy Solutions, Inc. for $45 million.
December 22, 2020
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Chart Industries, Inc. (NasdaqGS:GTLS) signed letter of intent to acquire Sustainable Energy Solutions, Inc. for $20 million on December 15, 2020. The deal consideration includes $20 million in cash and an associated earn-out. Andrew Baxter, Co-Founder and Chief Executive Officer and Larry Baxter, Co-Founder and Chief Technical Officer of Sustainable Energy, and the entire SES team will stay on post the transaction. The deal is subject to definitive transaction documentation and is expected to close in the next 30 days. Matt Stevens, Robert Heller and Laura Franco of Winston & Strawn LLP acted as legal advisor to Chart Industries, Inc. in the transaction.
Chart Industries, Inc. (NasdaqGS:GTLS) completed the acquisition of Sustainable Energy Solutions, Inc. for $45 million on December 23, 2020. The purchase was completed for a closing purchase price of $20 million in cash at closing, subject to a post-closing working capital adjustment, plus a potential earn-out not to exceed $25 million.
Chart Industries, Inc. is engaged in designing, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling for the Nexus of Clean-clean power, clean water, clean food, and clean industrials, regardless of molecule. 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, carbon capture, food and beverage, aerospace, lasers, cannabis and water treatment, among others.
CHART INDUSTRIES, INC. 
