secwatch.observer — SEC 8-K summary
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Issuer:     CHART INDUSTRIES INC (GTLS)
CIK:        0000892553
Form:       8-K
Filed at:   2023-06-12T23:59:59+00:00
Accession:  0001193125-23-164923
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chart Industries sells Roots blowers business to Ingersoll Rand for $300M cash
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- All-cash purchase price of $300M; expected close in Q3 2023, subject to customary conditions.
- Transaction represents low-teens adjusted EBITDA multiple; Ingersoll Rand acquires Connersville facility and ~300 employees.
- Pro forma net leverage ratio would have been 3.88x vs actual 4.08x at March 31, 2023, assuming debt paydown.
- Chart reaffirms FY2023 revenue, adjusted EBITDA, EPS, free cash flow outlook and FY2024 adjusted EBITDA target of $1.3B.
- Roots treated as assets held for sale effective March 17, 2023; synergy targets of $175M/$150M unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/892553/000119312523164923/0001193125-23-164923-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/892553/000119312523164923/d476437d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-164923

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