Chart Industries, Inc. has announced that its subsidiary, Chart Lifecycle, Inc. has acquired Hetsco, Inc., from Global Power Equipment Group, Inc. for approximately $22m.
The Hetsco and Chart Lifecycle combined business will focus on extending equipment lifespan by offering services from installation to start-up, operations and maintenance, training and support, monitoring, process optimisation, repair, maintenance and extended warranty.
This acquisition supplements Chart’s current offering by bringing a full suite of welding services for industrial gas and gas processing facilities including mission critical repair, specialty maintenance, construction, fabrication and safety services, with a particular focus on brazed aluminium heat exchangers.
Formed in 1982, Hetsco has provided highly skilled, emergency, specialty welding and construction services to the natural gas processing, petrochemical and air gas separation industries. Having completed site repairs across 44 states and more than 35 countries, Hetsco boasts a proud heritage of getting customer plants back on-line quickly and safely.
Sam Thigpen, President of Chart Lifecycle, Inc. commented, “Chart Lifecycle offers a level of service that is unique and unparalleled in the markets we serve. Increased analysis, awareness and attention to operating data and process control will improve process safety and reliability, but plants do fail and we need to react when that happens. Through the addition of Hetsco’s expertise and resources, Chart Lifecycle’s global 24/7 response has no equal.”
“We are very excited to welcome the Hetsco team to the Chart Lifecycle family. They bring a wealth of knowledge and experience that will further bolster our commitment to delivering best-in-class, timely services to our customers,” Thigpen continued.
In addition to its headline services, Hetsco also has fabrication, construction and project management experience that will further enhance Chart Lifecycle’s ability to deliver turnkey solutions.