Chart Industries and Flowserve Announce $19B All-Stock Merger to Form Industrial Technology Giant

This strategic move aims to create a powerhouse in industrial process technologies, blending each company’s strengths in fluid motion and thermal technologies.

Based on combined figures through the end of Q1 2025, the newly formed company reported $8.8 billion in trailing 12-month revenue, which includes a robust $3.7 billion in aftermarket services — a key area of recurring income and long-term customer engagement.

Under the terms of the agreement, Chart shareholders will receive 3.165 shares of Flowserve stock for each share of Chart stock they own. Upon closing, Chart investors will control 53.5% of the combined entity, while Flowserve shareholders will retain 46.5%. This reflects a shared commitment to governance and growth.

Leadership will also reflect this balance: Scott Rowe, the current CEO of Flowserve, will take over as CEO of the merged organization, and Jill Evanko, the current CEO of Chart, will become Chair of the Board. The newly formed board will include 12 directors, evenly split between the two companies.

The companies expect the merger to result in $300 million in annual cost synergies within three years. These efficiencies will come from streamlined procurement, reduced facility overhead, workforce optimization, and the removal of redundant public company expenses.

In addition, they anticipate incremental commercial revenue synergies, forecasting at least a 2% boost in overall revenue growth through cross-selling, product integration, and expanded customer relationships.

Pending regulatory approvals and shareholder consent, the transaction is expected to close in the coming months.