US-based LNG equipment provider Chart Industries completed the previously announced acquisition of the heat transfer solutions company, Hudson Products, for $410 million.
Hadson was majority-owned by funds managed by Riverstone Holdings.
Hudson’s brands and products are used in refining, petrochemical, natural gas, power, and other industrial and commercial end markets. Air-cooled heat exchangers and axial flow cooling fans account for approximately 37 percent of Hudson’s total net sales.
Hudson complements Chart’s Energy & Chemicals segment with the addition of its Fin-Fan brand and other air-cooled heat exchangers which broaden E&C’s end market diversity from primarily LNG, industrial and natural gas, Chart said.
“Hudson and Chart’s innovative, engineering focused cultures will work well together to continue to develop full service solutions,” said Chart Chief Executive Bill Johnson .
“This acquisition expands our E&C lifecycle aftermarket presence from $50 million to $125 million in annual revenue,” he added.