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U.S.-headquartered energy technology giant Baker Hughes has wrapped up the buyout of Chart Industries, strengthening its energy and industrial technology arsenal, with further growth anticipated to come from natural gas, data centers, and energy transition undertakings.
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Baker Hughes opted to spread its wings last year by buying Chart Industries to propel its energy and industrial technology strategy to new heights and high-grade its portfolio, especially within natural gas, data centers, and energy transition ecosystems to drive further business growth.
While confirming the completion of its purchase of Chart Industries, Baker Hughes emphasizes that the acquisition is expected to enhance its ability to deliver durable earnings and cash flow, driven by an expanded industrial portfolio and enhanced recurring aftermarket services.
Lorenzo Simonelli , Baker Hughes’ Chairman and Chief Executive Officer, commented: “Chart’s thermal management solutions bring complementary capabilities and aftermarket service offerings that accelerate our portfolio strategy.
“Together, we will expand the solutions we deliver across a broader range of energy and industrial markets and create greater value for customers and shareholders. We welcome our new colleagues to Baker Hughes and look forward to working with them to deliver disciplined execution and maximize synergies as we move forward.”
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Jim Apostolides , Baker Hughes’ Chief Infrastructure & Performance Officer, has been appointed Senior Vice President to lead the Chart segment. Apostolides has led a seamless and effective integration program since July 2025 to support strategic growth and operational synergy readiness.
Simonelli added: “Congratulations to Jim on his well-deserved appointment as segment leader. Jim’s business rigor, demonstrated through decades of global supply chain experience and operational leadership of large complex facilities around the world, makes him well-suited to lead implementation of the Baker Hughes Business System within Chart.”
The new addition will operate as a new reporting segment within the U.S. giant, reflecting the scale and strategic importance of its differentiated capabilities in air and gas handling, thermal management, and lifecycle services. The segment structure is intended to preserve the acquired firm’s commercial and operational focus while enabling full integration and synergy capture.
Chart reported $4.3 billion in revenue for fiscal year 2025 and currently serves customers in more than 50 countries, spanning sectors, including gas infrastructure, nuclear, data centers, carbon capture and storage (CCS), space, geothermal, and other high-growth industrial markets.
Baker Hughes has launched a comprehensive integration program, with the focus on harmonizing product and technology platforms, engineering and commercial practices, and lifecycle and digital services. Early synergy capture across supply chain, functional support, and manufacturing is seen as a priority, with a target of $325 million in annualized cost synergies within three years.
“The acquisition of Chart marks a significant step in Baker Hughes’ portfolio optimization and growth strategy. By streamlining non-core businesses and expanding into industrial and lifecycle-driven markets, Baker Hughes is committed to sustainable, long-term growth, improved capital efficiency, and enhanced value for shareholders,” underlined the U.S. firm.
10 days ago
U.S.-headquartered energy technology giant Baker Hughes has wrapped up the buyout of Chart Industries, strengthening its energy and industrial technology arsenal, with further growth anticipated to come from natural gas, data centers, and energy transition undertakings.
