Chart Industries, Inc. (GTLS)

Chart Industries, Inc. designs and manufactures engineered equipment for the production, storage and use of industrial gases and liquefied natural gas. The company, based in Ball Ground, Georgia, was formed in the early 1990s and was historically based in Ohio. Its equipment was used in energy, industrial gas, chemical processing, power, aerospace and other industries.

Its products included cryogenic tanks, trailers and containers, brazed aluminum heat exchangers, cold boxes, air-cooled heat exchangers, pressure vessels and process technology for LNG liquefaction, from small and mid-scale facilities to large export plants. Chart also served markets such as hydrogen, carbon capture, biogas, food and beverage, and water treatment, and offered repair, service, leasing and monitoring. The company went through a Chapter 11 restructuring in 2003 and later returned to public markets, trading under the symbol GTLS. In 2023 it acquired Howden, a maker of compressors, fans and other air and gas handling equipment, which broadened its thermal management and gas handling offering. By fiscal 2025 revenue was about $4.3 billion, with customers in more than 50 countries.

In 2025 Chart agreed to a merger with Flowserve, but that arrangement was superseded when Baker Hughes made an offer. Baker Hughes agreed to acquire Chart for $210.00 per share in cash, a transaction valued at about $13.6 billion, after Chart terminated its earlier merger agreement.

The acquisition closed on July 16, 2026, and Chart became part of Baker Hughes, which formed a third operating segment around it. Jim Apostolides was named to lead the Chart segment and oversee integration, and Baker Hughes expects about $325 million of annualized cost synergies within three years from supply chain, manufacturing and operational efforts.

Chart's businesses were organized around several areas, including cryo tank solutions, heat transfer systems, specialty products, and repair, service and leasing. Its markets included LNG, gas infrastructure, carbon capture and storage, nuclear, geothermal and data centers, where cooling and gas handling needs were growing.

For Baker Hughes, the purchase added thermal management, air and gas handling and lifecycle service capabilities to its energy technology business. Chart's former shareholders received cash, so they have no continuing equity interest in the combined business.

Trading in Chart's shares on the NYSE ended at closing and a Form 25 was filed on July 16, 2026. Former Chart holders received the cash price per share. Baker Hughes, which trades on Nasdaq under the symbol BKR, is the successor owner of the business. The former Chart shares and the symbol GTLS no longer trade.