Transaction Overview - Chart Industries and Flowserve Corporation will combine in an all-stock merger of equals, with an enterprise value of approximately $19 billion[1,18,20] - Chart shareholders will receive 3.165 shares of Flowserve common stock for each share of Chart common stock owned[18] - Pro-forma ownership will be 53.5% for Chart shareholders and 46.5% for Flowserve shareholders on a fully diluted basis[18] - The transaction is expected to close in Q4 2025, subject to shareholder and regulatory approvals[18] Financial Highlights - The combined company anticipates approximately $300 million in annual cost synergies within three years following the transaction close[15,18,20,45] - The combined company expects revenue synergies over time representing an incremental 2% growth on the combined revenue[18,45] - The combined company's revenue is $8.8 billion and adjusted EBITDA is $1.9 billion[20] - The combined company's aftermarket revenue is approximately $3.7 billion[24,38] Strategic Rationale - The merger creates a scaled industrial process technology business with a comprehensive suite of flow and thermal solutions[15] - The combination would have reduced historical revenue volatility by approximately 380bps[24] - The combined company will have a diversified end market mix, with 34% in LNG, 25% in Process Industries, 12% in Chemical, 9% in General Industrial, 7% in Power Generation, 7% in Hydrogen, Nuclear & Helium, and 6% in Specialty Markets and Water[26]