en.Wedoany.com Reported - Baker Hughes has completed its $13.6 billion acquisition of Chart Industries, establishing Chart as a third operating segment to expand its industrial portfolio.
Announced in July 2025, the transaction is part of Baker Hughes' ongoing portfolio optimization strategy aimed at supporting sustainable long-term growth. Chart Industries will be integrated as a new reporting segment within Baker Hughes, reflecting its operations in air and gas treatment, thermal management, and lifecycle services. Chart Industries reported $4.3 billion in revenue for fiscal year 2025, with operations in over 50 countries, serving sectors such as carbon capture and storage, data centers, natural gas infrastructure, geothermal industrial, nuclear energy, and space.
Lorenzo Simonelli, Chairman and CEO of Baker Hughes, stated that Chart's thermal management solutions bring complementary capabilities and aftermarket service offerings, accelerating the portfolio strategy. Together, the two companies will expand the solutions offered across the broader energy and industrial markets, creating greater value for customers and shareholders. Baker Hughes expects the acquisition to achieve $325 million in annual cost synergies within three years, along with further commercial synergy opportunities. The company has initiated integration plans focusing on product and technology alignment, engineering, commercial practices, and digital lifecycle services, with early benefits expected from supply chain, functional support, and manufacturing improvements.
Jim Apostolides has been appointed Senior Vice President to lead the Chart segment. He has led the integration process since July 2025, held management roles at Baker Hughes since 2020, and brings over 25 years of operational experience across multiple industries. The Baker Hughes Board will oversee integration progress and broader operational performance. The company is committed to strict capital allocation discipline, targeting a net leverage ratio between 1.0x and 1.5x within 24 months. The segment structure is designed to maintain Chart's commercial and operational focus while enabling greater integration and synergy capture across the organization.
