Chart Industries (GTLS) has signed a definitive agreement to sell its Roots business to Ingersoll Rand (IR) for an all-cash purchase price of $300M, representing an attractive low-teens adjusted EBITDA multiple. The transaction, which is subject to customary closing conditions, is expected to close in the third quarter 2023. Roots is a leading provider of low-pressure compression and vacuum technologies. As part of the transaction, Ingersoll Rand will assume ownership of the Connersville, Indiana manufacturing facility, which is dedicated to Roots products, as well as retain approximately 300 team members.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on GTLS:
- Chart Industries Executes Definitive Agreement for the sale of its Roots™ business to Ingersoll Rand
- Chart Industries to Participate in Upcoming Investor Events
- Koch Engineered Solutions and Chart Industries Agree to Collaborate on Carbon Capture Utilization and Storage (CCUS) Projects
- Chart Industries, Inc. and Crane Company Successfully Test a New Liquid Hydrogen Valve
- Chart Industries Inc Expands its Partnership with TECO 2030 ASA to Include all Howden solutions for Ship Efficiency and Carbon Emissions Reductions
Questions or Comments about the article? Write to editor@tipranks.com