Chart Industries Divests Roots Business To Ingersoll Rand For $300M
Portfolio Pulse from Shivani Kumaresan
Chart Industries has agreed to sell its Roots business to Ingersoll Rand for $300 million, with the deal expected to close in Q3 2023. GTLS reiterated its full-year 2023 outlook and will treat Roots as assets held for sale. GTLS shares are trading higher by 0.59% at $132.26 in premarket.
June 12, 2023 | 1:30 pm
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Chart Industries sells Roots business to Ingersoll Rand for $300M, reiterates full-year 2023 outlook. GTLS shares up 0.59% in premarket.
The sale of Roots business to Ingersoll Rand for $300 million is a positive development for GTLS as it allows the company to focus on its core strategic solution offering and integration efforts. This, along with the reiteration of its full-year 2023 outlook, has led to a 0.59% increase in GTLS shares in premarket trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ingersoll Rand acquires Roots business from Chart Industries for $300M, expanding its low-pressure compression and vacuum technologies portfolio.
The acquisition of Roots business from Chart Industries for $300 million is a positive development for Ingersoll Rand as it expands the company's portfolio in low-pressure compression and vacuum technologies. This strategic acquisition is expected to strengthen Ingersoll Rand's market position and potentially boost its revenues in the future.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100