Chart Industries has struck a definitive agreement to acquire Howden for $4.4bn.
Announcing its purchase plans on Wednesday (9th Nov), Chart said it hopes the deal will result in estimated combined revenue of approximately $3.4bn based on the trailing 12 months as of 31st August (2022).
Based in the UK, Howden is a global provider of air and gas handling products and services, from affiliates of KPS Capital Partners, LP. The company manufactures highly engineered fans, compressors, rotary heat exchangers, steam turbines, and other air and gas handling products, services, and solutions.
On the deal, Jill Evanko, CEO and President of Chart Industries, said, “The offerings of Chart and Howden are highly complementary, bringing multiple cost synergies, commercial synergies and efficiencies in the first year, along with significant aftermarket, service and repair exposure, which lifts the margin profile of the combined business, adds resiliency and broadens our end markets.”
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