IR Jun 2024 55.000 call

Chart Industries completes the sale of its Roots™ business to Ingersoll Rand

ATLANTA, Ga., Aug. 18, 2023 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) (“Chart”) announced that today it has closed its sale of the Roots™ business (“Roots”) to Ingersoll Rand Inc. (NYSE: IR) (“Ingersoll Rand”) for an all-cash purchase price of $300 million, representing an attractive low-teens adjusted EBITDA multiple. The proceeds from the sale are being used for debt paydown. Roots is a leading provider of low-pressure compression and vacuum technologies. As part of the transacti