Chart Industries (GTLS) Acquires AirSep Corporation for $170 Million; Accretive to 2012 Earnings

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Chart Industries, Inc. (Nasdaq: GTLS) has entered into a definitive agreement to acquire AirSep Corporation for $170 million in cash and up to $10 million in assumed debt. The transaction also includes senior management retention arrangements to ensure business continuity.

AirSep is expected to add approximately $130 million in annual revenues to Chart's BioMedical segment with improved gross margin as compared to Chart's average consolidated gross margin, excluding acquisition-related costs. Revenue and margins are expected to grow in future periods for this business, and Chart expects the acquisition to be accretive to future earnings.

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