AcquisitionsJul 16, 2026, 08:46 AM
Baker Hughes Completes Chart Industries Acquisition; Targets $325M Synergies
AI Summary
Baker Hughes Company announced the successful completion of its acquisition of Chart Industries, Inc. This strategic transaction is a major step in Baker Hughes' transformation into a higher-value, industrialized energy solutions company. The acquisition is expected to generate $325 million in annualized cost synergies within three years, with additional commercial synergy opportunities. Chart Industries will operate as a new, third reporting segment, and Jim Apostolides has been appointed to lead it.
Key Highlights
- Completed acquisition of Chart Industries, Inc.
- Expects $325 million in annualized cost synergies by year three post-close
- Chart Industries will operate as a new, third operating segment
- Chart reported $4.3 billion in revenue for fiscal year 2025
- Jim Apostolides appointed Senior VP to lead the new Chart segment
- Aims for net leverage range of 1.0-1.5x within 24 months
Price Impact
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