PRINT THIS PAGE First Reserve Corporation acquires Chart Industries in a $460m transaction18/10/2005. Source: AltAssets. 
 First Reserve Corporation has acquired Garfield Heights, Ohio-based Chart Industries, a provider of low temperature and cryogenic applications used by the energy industry and other sectors, in a transaction valued at approximately $460m.
Chart's principal products are focused on process equipment including heat exchangers, coldboxes and LNG fuel systems, used by the major natural gas, petrochemical processing and industrial gas companies in the production of their products. Chart manufactures a broad line of cryogenic products for the purification, liquefaction, distribution, storage and application of gases such as helium, nitrogen, argon, oxygen, carbon dioxide, natural gas and other hydrocarbons for final use in a multitude of industrial, commercial and scientific applications.
Tim Day, vice president of First Reserve, said, 'Chart is a global leader in the natural gas infrastructure market with experienced management, solid growth prospects and good free cash flow. Chart's products are critical to the development of the growing liquefied natural gas market. Chart fits well within our investment strategy of acquiring leading companies serving the global energy industry.'
First Reserve specialises in the energy industry with $4.7bn under management in four active funds.
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