GTLS - Chart Industries acquires L.A. Turbine for $80M in cash

Jacobs Stock Photography Ltd/DigitalVision via Getty Images Chart Industries (GTLS) has acquired L.A. Turbine for $80M in cash. L.A. Turbine is a global leader in turboexpander design, engineering, manufacturing, assembly and testing process for new and aftermarket equipment, with significant in-house engineering expertise. LAT is expected to be immediately accretive to Chart, with 2021 positive impact to full year guidance to be shared on Chart's second quarter 2021 earnings call which is scheduled for July 22, 2021. Further, LAT is expected to contribute between $40 and $50 million of revenue and $0.20 to $0.30 of non-diluted earnings per share on approximately 35.5 million weighted shares outstanding (assuming tax rate of 18%) in . Pursuant to the deal, the total addressable market of both parties specialty products is expanded by $350M, on account of expanded TAM for hydrogen liquefaction, helium liquefaction and carbon capture with energy storage, bringing thetotal near-term specialty products

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Chart Industries acquires L.A. Turbine for $80M in cash