Baker Hughes completed its acquisition of Chart Industries on July 16, 2026, adding a business that generated $4.3 billion in revenue in fiscal 2025 and operates in more than 50 countries.
The company said Chart will become Baker Hughes’ third operating segment. Chart’s businesses in air and gas handling, thermal management and lifecycle services are being folded into Baker Hughes’ portfolio as part of a broader push to build a higher-value industrial energy solutions company.
Baker Hughes said it expects $325 million in annualized cost synergies by year three after the close. It also said commercial synergy opportunities could add more upside beyond that target.
The integration effort is already underway. Baker Hughes said it began a comprehensive program focused on product and technology platforms, engineering and commercial practices, and lifecycle and digital services. Early work is centered on supply chain, functional support and manufacturing.
Jim Apostolides, previously Baker Hughes’ chief infrastructure and performance officer, has been appointed senior vice president to lead the Chart segment. He has been running the integration program since July 2025.
Baker Hughes said the deal is intended to strengthen recurring aftermarket services and expand its reach across gas infrastructure, nuclear, data centers, carbon capture and storage, space and geothermal markets.
The company also said it is targeting a net leverage range of 1.0x to 1.5x within 24 months. As a result of these announcements, the company's shares have moved -1.52% on the market, and are now trading at a price of $56.3803. Check out the company's full 8-K submission here.
