Chart Industries, Inc. has announced that its Distribution and Storage Group (Chart D&S) has completed the acquisition of Cryotech International, formerly known as VBS International.
While financial terms of the transaction were not disclosed, the acquisition includes all products and services sold under Cryotech's global brand.
Cryotech, headquartered in San Jose, California, designs, manufactures, sells, and services cryogenic injectors, vacuum insulated piping systems, and manifolds, and also repairs liquid cylinders. The company sells its products globally and industry applications include food and beverage packaging, aerospace and defense, semiconductor, pharmaceutical, biotechnology, solar and electronics.
Cryotech’s sales have ranged from $10m to $15m annually over the last three years.
Tom Carey, President of Chart D&S, explained, “Cryotech has excellent sales and service capability in a region in which we are interested in expanding our presence. Cryotech's products and customer list are an exciting addition to the Chart D&S portfolio.”
“We look forward to including our comprehensive array of bulk and MicroBulk storage products in Cryotech's liquid nitrogen (LN2) dosing solutions.”
Gary Sandercock, President of Cryotech International, added positively, “Chart Industries is the leading manufacturer of LN2 storage solutions that will complement our cryogenic dispensing equipment to create complete turnkey systems. Chart's global presence will facilitate continued geographic expansion of Cryotech's position in food and beverage packaging.”