Baker Hughes has completed its acquisition of Chart Industries, adding a business that generated $4.3 billion in revenue in fiscal 2025 and operates in more than 50 countries.
The deal gives Baker Hughes a third operating segment, with Chart now organized separately alongside the company’s existing businesses. Baker Hughes said the move is intended to reflect the scale of Chart’s air and gas handling, thermal management and lifecycle services operations.
The company said it expects $325 million in annualized cost synergies by year three after closing. It also said commercial synergy opportunities could add more upside beyond that target.
Baker Hughes appointed Chief Infrastructure & Performance Officer Jim Apostolides as senior vice president to lead the Chart segment. Apostolides has led the integration program since July 2025 and has more than 25 years of operational and multi-industry leadership experience.
Chart’s customer base spans gas infrastructure, nuclear, data centers, carbon capture and storage, space and geothermal markets. Baker Hughes said the acquisition expands its industrial portfolio and recurring aftermarket services, and it is targeting a net leverage range of 1.0x to 1.5x within 24 months. Following these announcements, the company's shares moved -0.87%, and are now trading at a price of $56.75. For more information, read the company's full 8-K submission here.
