Chart Industries Inc. (Chart), a global manufacturer of liquefaction and cryogenic equipment serving multiple applications in the energy and industrial gas end markets, completed the acquisition of CSC Cryogenic Service Center AB (CSC), a Swedish company, for approximately US$4 million.
CSC has a service footprint in the Nordic Region with many overlapping customers to Chart, allowing Chart to broaden its service and repair presence geographically. Chart’s original equipment installed base and goal of organic growth in the Nordic region will benefit from CSC’s localized support.
Not only does the acquisition expand Chart’s geographic footprint, it also broadens its repair and service capabilities for mobile equipment, in particular trailers, as well as containers, stationary and transportable tanks, pumps, flowmeters, and liquefied natural gas (LNG) fueling stations. Chart said that a number of customers look to it for exclusive full-care service and maintenance agreements in this region as well as installation and commissioning capabilities for LNG stations. CSC also brings relationships with key customers in the marine industry. Utilizing Chart’s commercial team, Chart expects to realize synergies from the CSC offering with both companies’ marine customers.
“The CSC acquisition opens a broader geographic market to our repair, service, and leasing segment and broadens our capabilities for repair and service to our existing customers,” said Jill Evanko, Chart’s CEO and president. “We want to welcome our CSC team, with whom we have worked over many years. We are pleased to have the CSC team continue as part of the Chart family under the continued leadership of Håkan Karlsson, CSC President.