Report
Chart Industries Inc
8665 New Trails Drive, Suite 100
Phone: (281) 364-8700p:281 364-8700 THE WOODLANDS, TX  77381  United States Fax: (302) 636-5454f:302 636-5454

Chart Industries Acquires LA Turbine For US$80 Million


Deal In Brief

Chart Industries Inc, a manufacturer of engineered equipment servicing multiple applications in Energy and Industrial Gas markets, has acquired LA Turbine, a design and manufacturing company, for a cash consideration of US$80 million

LA Turbine designs and manufactures application-specific, highly engineered turboexpanders used in hydrocarbon processing, geothermal power generation, industrial gas, power-recovery and refrigeration applications

Winston & Strawn LLP acted as legal advisor to Chart on the transaction

The transaction enables Chart Industries to strengthen its service offerings

“It is an exciting time for Chart and L.A. Turbine as we now work together to bring our customers expanded solutions across multiple molecules, including nearly all types of energy sources and multiple industrial gas applications,” stated Jill Evanko, Chart’s CEO and President. “L.A. Turbine is one of the only turboexpander engineering and manufacturing companies that can design and produce very specialized expanders; one of the longest lead time items in the hydrogen and helium liquefaction supply chain. With this capability in house, we are further differentiated in liquefaction – not just from decades of experience but also from world class efficiency and now, significantly shorter and guaranteed delivery times.” Jill Evanko, CEO and President of Chart said, “It is an exciting time for Chart and L.A. Turbine as we now work together to bring our customers expanded solutions across multiple molecules, including nearly all types of energy sources and multiple industrial gas applications. L.A. Turbine is one of the only turboexpander engineering and manufacturing companies that can design and produce very specialized expanders; one of the longest lead time items in the hydrogen and helium liquefaction supply chain. With this capability in house, we are further differentiated in liquefaction not just from decades of experience but also from world class efficiency and now, significantly shorter and guaranteed delivery times.” Danny Mascari, President of LA Turbine said, “Since our company’s inception, L.A. Turbine’s focus is to be the go-to turboexpander solution provider, as an OEM of highly-engineered rotating equipment designs and process solutions for engineering, procurement and construction clients and end-user operators as well as aftermarket, service and repair. With Chart we can both capitalize on emerging market opportunities while also enhancing and extending the reach of the value chain to our collective customers through our people, technology, infrastructure and financial assets. In addition, we remain committed to providing the top-of-the-line FX-TURBO aftermarket service our turboexpander customers have come to know and expect.”

Deal Value (US$ Million)80
Deal Type Acquisition
Sub-Category100% Acquisition
Deal StatusCompleted: 2021-07-01

Deal Participants

Target (Company)LA Turbine
Acquirer (Company)Chart Industries Inc

Deal Rationale

The transaction enables Chart Industries to strengthen its service offerings.

% Acquisition100%

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