US industrial equipment businesses Chart Industries and Flowserve are to merge in a major $19bn deal that aims to establish a scaled industrial process technology business with a range of ‘flow and thermal’ solutions. The deal is expected to close in Q4 this year.
Under the transaction, billed as a merger of equals, Chart will be the majority shareholder (53.5%), with 46.5% owned by Flowserve. The combined company – whose name will be announced at a later date – will be headquartered in Dallas, with presence maintained in Atlanta and Houston.
The merger pools Flowserve’s expertise in cryogenic valves and hydrogen fuelling systems with Chart’s experience in handling gases and liquids in the clean energy and industrial gas markets, including a wide range of end markets such as LNG, nuclear, and chemicals.
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