Baker Hughes, a global energy technology company, announced a definitive agreement to acquire Chart Industries in an all-cash deal valued at $13.6 billion, or $210 per share. This landmark acquisition is set to significantly accelerate Baker Hughes’ strategic vision and transform its Industrial & Energy Technology (IET) segment.
The acquisition of Chart Industries, a leader in process technologies and equipment for handling gas and liquid molecules, will enhance Baker Hughes’ capabilities across critical markets, including natural gas, the rapidly expanding data center industry, and vital decarbonization initiatives.
Baker Hughes anticipates substantial benefits from this integration, including accelerated aftermarket growth and an estimated $325 million in annualized cost savings by the end of the third year following the acquisition. The transaction is also expected to be immediately accretive to Baker Hughes’ growth, margins, earnings per share (EPS), and cash flow.
Both companies’ Boards of Directors have unanimously approved the transaction. The acquisition is subject to customary closing conditions, including regulatory and shareholder approvals, and is anticipated to close by mid-2026. Chart Industries’ expertise in liquefaction, cryogenic processing, and engineered equipment for LNG, hydrogen, and carbon capture (CCUS) technologies will solidify Baker Hughes’ position at the forefront of the energy transition.
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“This acquisition is a milestone for Baker Hughes and a testament to our strong financial execution and strategic focus as we continue to define our position as a leading energy and industrial technology company. We know Chart well, having worked alongside them on many critical energy infrastructure projects. Their products and services are highly complementary to our offerings and strongly aligned with our intent to deliver distinctive and efficient end-to-end lifecycle solutions for our customers across their most critical applications. The combination positions Baker Hughes to be a technology leader that can provide engineering and technology expertise to meet the growing demand for lower-carbon, efficient energy and industrial solutions across attractive growth markets such as LNG, data centers and New Energy.”
“The acquisition also delivers compelling financial returns for our shareholders. Adding this high-growth, high-margin business to our Industrial & Energy Technology segment will deliver strong earnings accretion and returns, contributing to an improved growth and margin profile. We look forward to welcoming Chart into the Baker Hughes organization and, together, achieving even greater success and driving long-term value for shareholders.”
Baker Hughes Chairman and CEO Lorenzo Simonelli
“This all-cash transaction with Baker Hughes delivers immediate value to Chart shareholders. Thanks to the outstanding work of our global OneChart team, we have successfully built a product and solution portfolio that spans front-end engineering design through aftermarket services. The Baker Hughes team shares our engineering-focused culture and commitment to operational excellence. Our complementary solutions fit seamlessly with Baker Hughes’ Industrial & Energy Technology segment, and together we can help our customers solve the most critical energy access and sustainability needs. Our Board is proud to deliver this outcome to our shareholders.”
Chart President and CEO Jill Evanko
