Chart Industries has entered into a definitive agreement to acquire AirSep Corporation for $170 million in cash and up to $10 million in assumed debt. The transaction also includes senior management retention arrangements to ensure business continuity.
“The acquisition of AirSep is an excellent fit into Chart’s overall gas processing business,” stated Sam Thomas, Chairman, CEO and President of Chart Industries. “It strengthens our BioMedical Group’s oxygen concentrator business and provides a growth platform for on-site air separation gas generation. The acquisition also represents an attractive and stable complement to our large and rapidly growing energy business, including LNG liquefaction and transportation opportunities.”