Baker Hughes has completed its acquisition of Chart Industries, strengthening its position as a global industrial energy solutions provider and expanding its portfolio of technology and lifecycle services.

The transaction will create a new reporting segment within Baker Hughes focused on Chart’s capabilities in air and gas handling, thermal management and aftermarket services.

Chart, which generated $4.3 billion in fiscal 2025 revenue, serves customers in more than 50 countries across sectors including gas infrastructure, nuclear energy, data centres, carbon capture, space and geothermal.

“Chart’s thermal management solutions bring complementary capabilities and aftermarket service offerings that accelerate our portfolio strategy,” said Lorenzo Simonelli, Baker Hughes Chairman and Chief Executive Officer. “Together, we will expand the solutions we deliver across a broader range of energy and industrial markets and create greater value for customers and shareholders. We welcome our new colleagues to Baker Hughes and look forward to working with them to deliver disciplined execution and maximise synergies as we move forward.”

Baker Hughes appointed Jim Apostolides as senior vice president to lead the Chart segment.

Apostolides, who has more than 25 years of operational leadership experience, has overseen the integration programme since July 2025.

“Congratulations to Jim on his well-deserved appointment as segment leader,” Simonelli added. “Jim’s business rigor, demonstrated through decades of global supply chain experience and operational leadership of large complex facilities around the world, makes him well-suited to lead implementation of the Baker Hughes Business System within Chart. We look forward to his leadership and continued success, quickly delivering value for our customers and shareholders as one company.”

The company said the acquisition will support earnings growth through expanded industrial operations and recurring service revenue.

Baker Hughes is targeting $325 million in annual cost synergies within three years through supply chain improvements, manufacturing efficiencies and operational alignment.

The acquisition marks a key step in Baker Hughes’ strategy to diversify its business, improve capital efficiency and deliver long-term shareholder value while maintaining disciplined capital allocation. -OGN/TradeArabia News Service