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New Deal


Announced

Completed

Chart Industries and I Squared Capital completed a $171m investment in HTEC.

Financials

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Transaction Value£124m
Consideration TypeCash
Capital Owned16%
Capital Bid For44%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

Acquisition

Completed

hydrogen storage

design services

Cross Border

Friendly

Consumer Services: Other

Private Equity

Canada

engineering solutions

Majority

Synopsis

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Chart Industries, a global manufacturer of equipment, and I Squared Capital, a private equity firm, completed a $171m investment in HTEC Hydrogen Technology & Energy, a provider of the clean hydrogen value chain, integrating technologies, systems, people, and partnerships. “Our increased investment in HTEC and partnership with ISQ is highly strategic. It capitalizes HTEC well to address near term opportunities where Chart can benefit as a core supply partner, while also providing flexibility to further consolidate our ownership position in a high-growth hydrogen business with significant Canadian presence and customer base. Canada is a high growth market for hydrogen, given the government’s commitments to the clean energy transition, with the hydrogen sector being a meaningful part of that commitment," Jill Evanko, Chart CEO and President.

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