Chart Industries recently announced the acquisition of Cryogenic Gas Technologies (CGT) for $55 million in cash.

CGT is a global leader in custom engineered process systems to separate, purify, refrigerate, liquefy and distribute high value industrial gases such as H2, He, Ar and hydrocarbons with design capabilities for cold boxes for H2 and He use.

“Their world class, differentiated cryogenic engineering expertise, global project experience in H2 and He liquefaction coupled with our process technologies, brazed aluminum heat exchanger and cold box manufacturing capabilities creates the only multi-molecule full-solution liquefaction and equipment offering in the world,” stated Jill Evanko, Chart’s CEO.

CT is expected to contribute approximately $30 million of revenue to Chart’s 2021 outlook.