Chart Industries Acquires Cryogenic Service Center AB (CSC)

ATLANTA, May 18, 2022 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (“Chart”) (NYSE: GTLS), a leading global manufacturer of liquefaction and cryogenic equipment serving multiple applications in the energy and industrial gas end markets, completed the acquisition of CSC Cryogenic Service Center AB, a Swedish company (“CSC”) for approximately $4 million.

CSC brings a strong service footprint in the Nordic Region with many overlapping customers to Chart, allowing us to broaden our service and repair presence geographically. Our strong original equipment (“OE”) installed base and continued OE forecasted growth in the Nordic region will benefit from this localized support.

Not only does this expand our geographic footprint, it broadens our repair and service capabilities for mobile equipment, in particular trailers, as well as ISO containers, stationary and transportable tanks, pumps, flowmeters and LNG fueling stations. In particular, we have a number of customers looking to us for exclusive full care service and maintenance agreements in this region as well as installation & commissioning capabilities for LNG stations. CSC also brings strong relationships with key customers in the marine industry, and utilizing our global commercial team, we expect to realize synergies from the CSC offering with both companies’ marine customers.

“The CSC acquisition opens a broader geographic market to our Repair, Service and Leasing segment and broadens our capabilities for repair and service to our existing customers,” stated Jill Evanko, Chart’s CEO and President. “We want to welcome our CSC team, with whom we have worked over many years. We are pleased to have the CSC team continue as part of the Chart family under the continued leadership of Håkan Karlsson, CSC President.

Setterwalls and Winston & Strawn LLP served as legal advisors to Chart on the transaction.

About Chart Industries, Inc.

Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets.  Our unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair.  Being at the forefront of the clean energy transition, we are a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 capture, amongst other applications. We are committed to excellence in environmental, social and corporate governance (ESG) issues both for our company, as well as our customers.  With over 25 global locations, from the United States to Asia, Australia, India, Europe and South America, we maintain accountability and transparency to our team members, suppliers, customers and communities.  To learn more, visit www.chartindustries.com.