- Chart Industries, Inc. (GTLS) and Flowserve Corporation (FLS, Financial) to combine in a $19 billion all-stock merger.
- The merger is anticipated to generate $300 million in annual cost synergies within three years and will be accretive to adjusted EPS in the first year.
- Shareholders of Chart will own approximately 53.5% of the combined company.
Chart Industries, Inc. (GTLS) and Flowserve Corporation (FLS) have announced a definitive agreement to merge in an all-stock transaction, creating a leading entity in industrial process technologies with an estimated enterprise value of $19 billion. The merger aims to combine the strengths of both companies in process and flow management, enhancing their competitiveness across diversified end markets including energy, power generation, and industrial gases.
This merger, approved unanimously by both companies' boards, will see Chart shareholders receiving 3.165 shares of Flowserve's common stock for each share of Chart. Post-transaction, Chart's shareholders will hold approximately 53.5% of the merged entity, while Flowserve's will own 46.5% on a fully diluted basis.
The combined company will also focus on aftermarket services, generating around $3.7 billion in revenue in this segment alone. Significant cost synergies of approximately $300 million annually are anticipated within three years, primarily from organizational efficiencies and procurement savings, with the transaction expected to be accretive to adjusted EPS in its first year.
Leadership restructuring will position Jill Evanko as Chair of the Board, Scott Rowe as CEO, and John Garrison as Lead Independent Director. The headquarters will be located in Dallas, TX, but will maintain presence in Atlanta and Houston, operating across more than 50 countries.
The merger's successful execution depends on regulatory approvals and shareholder votes, with closure expected in the fourth quarter of 2025. For more details, visit the dedicated merger website at ChartFlowserve.com.
