mynth
03/2023

HOWDEN acquired by CHART INDUSTRIES

UNITED KINGDOM Industrial Equipment / Special Machinery EV 3b - 100b USD

Context

Chart Industries has successfully finalized the acquisition of 100% of the common stock of the target organization from an international private equity sponsor. This transformative strategic transaction creates a differentiated global champion in the fluid handling and cryogenic sectors, uniting a leader in stationary equipment with a pioneer in rotating gas handling solutions. The strategic rationale for the move centers on the expansion of the group's "Nexus of Clean™" portfolio, specifically targeting the accelerating energy transition and industrial decarbonization markets. By incorporating the target’s specialized compressor and fan technologies, the organization significantly reduces lead times for critical liquefaction projects and enhances its multidisciplinary engineering capacity. The partnership focuses on leveraging the target’s extensive global service and aftermarket footprint to increase the group's margin profile and operational resiliency. This integration facilitates a more comprehensive solution set for high-growth areas such as hydrogen infrastructure, carbon capture and storage (CCUS), and water treatment. The move reinforces the group’s standing as a primary technical enabler for sustainable industrial growth on a global scale.

HOWDEN, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Industry & Manufacturing sector (11.6x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Howden is a specialized technology organization dedicated to the design and supply of mission-critical air and gas handling solutions. The entity’s business model is built on providing highly engineered equipment, including fans, compressors, and rotary heat exchangers, that facilitate essential industrial workflows. Its value proposition centers on technical durability and high-precision engineering for applications where reliability is vital, particularly in harsh environments. Strategically, the firm focuses on the energy transition, supporting global decarbonization targets through advanced gas handling and carbon capture integration. By maintaining a massive installed base and a global service network, the organization ensures a mission-critical role in power generation, mining, and industrial processing. The firm prioritizes innovation in digitalization and IoT to optimize asset performance and operational efficiency.

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Historical Financials (USD)

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REFERENCES

Valuation range: EV 3b - 100b USD

Revenue range: 1b - 3b USD

EBITDA range: 250M - 500M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of HOWDEN by CHART INDUSTRIES are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Acquirer: chart industries