Baker Hughes Buys Chart Industries in $13.6 Billion Energy Tech Merger
Baker Hughes will acquire Chart Industries in a $13.6 billion all-cash deal, expanding its presence in LNG, hydrogen, and industrial gas technology. The deal is expected to close by mid-2026.
(P&GJ) — Baker Hughes has agreed to acquire Chart Industries in an all-cash deal valued at $13.6 billion, aiming to expand its energy and industrial technology portfolio with equipment spanning the gas and liquid molecule supply chain.
Under the agreement, Chart shareholders will receive $210 per share. The transaction, unanimously approved by both companies’ boards, is expected to close by mid-2026, pending shareholder and regulatory approvals.
“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,” said Baker Hughes Chairman and CEO Lorenzo Simonelli. “We know Chart well, having worked alongside them on many critical energy infrastructure projects. Their products and services are highly complementary to our offerings.”
Chart Industries designs and manufactures process technologies and equipment used across the liquid gas supply chain, including LNG, hydrogen and industrial gases. The company generated $4.2 billion in revenue and $1 billion in adjusted EBITDA in 2024 and operates 65 manufacturing locations with more than 50 service centers worldwide.
“This all-cash transaction with Baker Hughes delivers immediate value to Chart shareholders,” said Jill Evanko, Chart’s president and CEO. “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.”
Baker Hughes said the acquisition would broaden its exposure to fast-growing sectors such as LNG, data centers and hydrogen, while creating $325 million in annual cost synergies within three years. The company also plans to maintain its A credit rating and reduce leverage to 1.0–1.5x within 24 months after the deal closes.