Chart Industries, Inc., announced today that it has completed the previously announced acquisition of vaporizer manufacturer Thermax, Inc. Thermax will be operated as part of Chart’s Distribution & Storage (Chart D&S) business segment.
Thermax, headquartered in Dartmouth, Massachusetts, is a leading provider of cryogenic fluid vaporizers utilized in industrial gas, petro-chemical, and liquefied natural gas applications. The product portfolio spans a broad set of ambient and powered vaporizer solutions. Thermax’s international presence includes business in the United Kingdom, China, and Indonesia.
“Now that the acquisition has been completed, we are pleased to welcome Bob Bernert, President of Thermax, his management team and all current employees to Chart and look forward to integrating the business into the existing Chart D&S family,” commented Tom Carey, President of Chart D&S. He continued, “We are confident that the combination of Chart’s and Thermax’s excellence in cryogenic engineering and customer service will deliver growth and add even more value to our customers.”
As previously announced, Chart expects this acquisition to be accretive to future earnings within the first 12 months.