Energy company Baker Hughes to acquire Chart Industries in a $13.6 billion takeover, speeding up their strategic focus on energy technology.
Baker Hughes, a global energy technology company, has expanded its Industrial & Energy Technology segment by acquiring Chart Industries for $13.6 billion, a deal announced in July 2025. This acquisition strengthens Baker Hughes' position in key growth markets such as LNG, data centers, and decarbonization technologies.
Chart Industries, a global leader in process technologies and equipment for gas and liquid molecule handling, brings complementary capabilities to Baker Hughes. The company, which generated $4.2 billion in revenue in 2024 and operates 65 manufacturing sites and over 50 service centers worldwide, covers the entire liquid gas supply chain—from engineering and design to installation, maintenance, and digital monitoring.
Lorenzo Simonelli, Baker Hughes' Chairman and CEO, stated that the acquisition is a milestone for the company and a testament to its strong financial execution and strategic focus. He explained that Chart's products and services are highly complementary to Baker Hughes' offerings and aligned with its intent to deliver distinctive and efficient end-to-end lifecycle solutions for customers.
Jill Evanko, Chart's President and CEO, noted that the all-cash transaction delivers immediate value to Chart shareholders. She also mentioned that their complementary solutions fit seamlessly with Baker Hughes' Industrial & Energy Technology segment and that the Baker Hughes team shares Chart's engineering-focused culture and commitment to operational excellence.
The acquisition is expected to close by mid-2026, subject to customary closing conditions, including regulatory and shareholder approvals. It is anticipated to be immediately accretive to Baker Hughes' growth, margins, earnings per share (EPS), and cash flow. Baker Hughes anticipates substantial benefits from this integration, including accelerated aftermarket growth and an estimated $325 million in annualized cost savings by the end of the third year following the acquisition.
Simonelli stated that the combination positions Baker Hughes to be a technology leader that can provide engineering and technology expertise to meet the growing demand for lower-carbon, efficient energy and industrial solutions across attractive growth markets such as LNG, data centers, and New Energy. With Chart's expertise in liquefaction, cryogenic processing, and engineered equipment for LNG, hydrogen, and carbon capture (CCUS) technologies, Baker Hughes will solidify its position at the forefront of the energy transition.
The deal is set to significantly accelerate Baker Hughes' strategic vision and transform its Industrial & Energy Technology (IET) segment. Evanko concluded that together, Baker Hughes and Chart can help customers solve the most critical energy access and sustainability needs. This acquisition delivers compelling financial returns for Baker Hughes' shareholders, according to Simonelli.
The acquisition of Chart Industries by Baker Hughes, a global energy technology company, will bring complementary capabilities from a leader in gas and liquid molecule handling, which covers the entire liquid gas supply chain, into Baker Hughes' existing offerings. This merger is anticipated to be immediately accretive to Baker Hughes' growth and strengthen its position in key markets such as LNG, data centers, and decarbonization technologies, especially with Chart's expertise in liquefaction, cryogenic processing, and engineered equipment for LNG, hydrogen, and carbon capture technologies.
