Chart Industries, Inc. has entered into a definitive agreement to acquire Hudson Products Corporation for $410m.
Founded in 1939, Hudson is a trusted leader in heat transfer solutions with an array of strong brands and products used in refining, petrochemical, natural gas, power, and other industrial and commercial end markets.
The North American-based company specialises in air-cooled heat exchangers (ACHXs) and axial flow cooling fans. It’s installed base of over 20,000 ACHXs and 200,00 fans globally provides stable aftermarket revenue streams, which account for approximately 37% of Hudson’s total net sales.
Chart’s President and CEO, Bill Johnson, commented, “Hudson is a proven, high performing business with an impressive set of products, customers, processes, and people, all of which we see as being highly synergistic and consistent with our strategic growth initiatives. We welcome Hudson employees to Chart and look forward to jointly creating valuable solutions for our customers. We see the acquisition and the expected synergies as enhancing shareholder value as we move forward.”
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