Chart buys Germany’s VCT Vogel
US-based LNG equipment provider Chart Industries has agreed to acquire VCT Vogel of Germany.
VCT provides cryogenic pumps, equipment and service to businesses in Germany, Austria and Switzerland.
The acquisition expands and strengthens Chart’s service and aftermarket presence in the three countries and adds highly complementary truck drive systems to Chart’s mobile equipment offering, the company said in a statement.
VCT is expected to generate net sales of approximately $4 million in 2017. Services account for approximately 55% of VCT’s sales, according to Chart.
Chart did not reveal the value of the deal.