M&A Deal Summary

Chart Industries Acquires Hetsco

On January 17, 2017, Chart Industries acquired energy services and equipment company Hetsco from Williams for 22M USD

Acquisition Highlights
  • This is Chart Industries’ 1st transaction in the Energy Services and Equipment sector.
  • This is Chart Industries’ 5th largest (disclosed) transaction.
  • This is Chart Industries’ 7th transaction in the United States.
  • This is Chart Industries’ 1st transaction in Indiana.

M&A Deal Summary

Date 2017-01-17
Target Hetsco
Sector Energy Services and Equipment
Buyer(s) Chart Industries
Sellers(s) Williams
Deal Type Divestiture
Deal Value 22M USD

Target

Hetsco

Greenwood, Indiana, United States
website
Hetsco, Inc. is a provider of mission critical brazed aluminum heat exchanger ("BAHX") repair, maintenance and safety services to the industrial gas, liquefied natural gas ("LNG") and petrochemical industries.

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Buyer(S) 1

Buyer

Chart Industries

Ball Ground, Georgia, United States

website


Category Company
Founded 1859
Sector Machinery
Employees4,771
Revenue 1.3B USD (2021)
DESCRIPTION
Chart Industries' corporate headquarters in Garfield Heights, Ohio.
Chart Industries' corporate headquarters in Garfield Heights, Ohio.

Chart Industries is a provider of cryogenic equipment used in industrial gas, hydrocarbon, and medical applications. Chart Industries was formed in 1992 and is based in Garfield Heights, Ohio. Chart Industries was incorporated in 1859 and is headquartered in Ball Ground, Georgia.


DEAL STATS #
Overall 9 of 17
Sector (Energy Services and Equipment) 1 of 3
Type (Divestiture) 1 of 1
State (Indiana) 1 of 1
Country (United States) 7 of 12
Year (2017) 1 of 3
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-01 Thermax

Dartmouth, Massachusetts, United States

Thermax, Inc. is a provider of cryogenic fluid vaporizers utilized in industrial gas, petro-chemical, and liquefied natural gas applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-01 VCT Vogel

Gablingen, Germany

VCT Vogel GmbH is a provider of cryogenic and other mobile gas tank equipment and trucks, and is a European leader in truck mounted drive and control systems for the operation of cryogenic pumps on trailers, rigid trucks and containers.

Buy -

Seller(S) 1

SELLER

Williams

Atlanta, Georgia, United States

website


Category Company
Founded 1998
Sector Energy Services and Equipment
Employees1,264
Revenue 269M USD (2020)
DESCRIPTION

Williams is a designer, engineer and manufacturer of auxiliary equipment for gas turbines used in power plants and a variety of industrial applications. Williams was founded in 1998 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 2 of 3
Sector (Energy Services and Equipment) 1 of 2
Type (Divestiture) 2 of 3
State (Indiana) 2 of 2
Country (United States) 2 of 3
Year (2017) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-01 Koontz-Wagner

South Bend, Indiana, United States

Koontz-Wagner offers repair and testing services for electric motors and other mechanical and electrical equipment, as well as electrical contracting services for commercial and industrial projects. Its maintenance services division repairs motors, generators, switchgear, transformers, electronics, and other electrical and mechanical equipment. Koontz-Wagner was founded in 1921 and is based in South Bend, Indiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-12 Braden Manufacturing

Tulsa, Oklahoma, United States

Braden Manufacturing LLC is an international leader in the power generation industry for the design, manufacture, installation and retrofit of auxiliary equipment for gas turbines including filter houses, inlet cooling systems, anti-icing systems, intake silencers, expansion joints, diverter dampers, exhaust silencers, exhaust stacks and Selective Catalytic Reduction systems.

Sell -