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Collected Strategies represents Chart Industries as it agrees to be acquired by Baker Hughes, oil & gas equipment supplier, in an all-cash deal pegged at $13.6B.
The $210 per share offer is a 22 percent premium to the market capitalization of Chart, which focuses on industrial technologies needed to handle gas and liquids at extremely low temperatures.
“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 CEO Lorenzo Simonelli.
He noted that Baker Hughes has worked closely with Chart 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,” Simonelli added.
The deal enables Baker Hughes to target growth markets such LNG and data centers.
Chart CEO Jill Evanko noted her company’s “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.”
The merger is expected to close mid-next year.
Collected Strategies has Jim Golden, Jude Gorman, Jack Kelleher and Nick Lamplough handling media for Chart.
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