Chart Industries Acquires Fronti Fabrications For $20M

  • Chart Industries, Inc. GTLS has acquired Fronti Fabrications, Inc. for $20 million.
  • Fronti is a specialist in engineering, machining, and welding for the cryogenic and gas industries; and also supplies new build pressure vessels and performs repairs with certification to the American Society of Mechanical Engineers (ASME) code.
  • The acquisition adds a known team to expand Chart's cold box manufacturing capacity and capability, including work currently underway on Chart hydrogen and helium liquefiers.
  • Fronti's vacuum cold box fabrication capability and its facility at a critical geographic position for cryogenics allow GTLS to quickly optimize its manufacture under the "One Chart flex manufacturing" umbrella.
  • Chart Industries held cash and equivalents of $99.9 million as of March 31, 2022.
  • Price Action: GTLS shares are trading lower by 4.42% at $176.42 on the last check Tuesday.
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