Baker Hughes to acquire Chart Industries for $13.6 billion

HOUSTON, July 29, 2025 – Baker Hughes has entered into a definitive agreement to acquire Chart Industries for USD 13.6 billion in cash, delivering immediate value to shareholders, the companies announced on Tuesday.

The deal strengthens Baker Hughes’ industrial and energy technology segment and expands its portfolio across LNG, data centres and decarbonisation technologies. The acquisition is expected to generate USD 325 million in annualised cost synergies by the end of year three.

Chart’s offering spans design, engineering and manufacturing of process technologies and equipment used across the gas and liquid supply chain. The company reported USD 4.2 billion in revenue and USD 1 billion in adjusted EBITDA in 2024.

“This acquisition is a milestone for Baker Hughes and a testament to our strong financial execution and strategic focus,” chairman and CEO Lorenzo Simonelli said. “Their products and services are highly complementary to our offerings.”

The transaction is expected to close by mid-2026, subject to regulatory and shareholder approvals. Baker Hughes has secured committed bridge financing and intends to replace it with permanent debt, while targeting a net leverage reduction to 1.0-1.5x within 24 months.

“This all-cash transaction with Baker Hughes delivers immediate value to Chart shareholders,” Chart president and CEO Jill Evanko said. “Together we can help our customers solve the most critical energy access and sustainability needs.”

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