Chart, Flowserve agree $19 billion merger

With an installed base of more than 5.5 million assets in more than 50 countries, the combined company will address the full customer lifecycle from process design through aftermarket support, according to a joint statement.

The combined company generated net revenue of approximately $8.8 billion on a combined LTM basis as of the end of Q1 2025, drawn from diverse end markets, including approximately $3.7 billion in aftermarket services revenue, representing approximately 42 percent of combined revenue.

Under the agreement, which has been unanimously approved by the board of directors of each
company, at the closing of the transaction Chart shareholders will receive 3.165 shares of Flowserve common stock for each share of Chart common stock owned.

Following the close of the transaction, Chart shareholders will own approximately 53.5 percent and Flowserve shareholders will own approximately 46.5 percent of the combined company, on a fully diluted basis.

Q4 2025

The two firms said that the combined company will have “leading” capabilities across general industrial, industrial gases, data centers, space, transportation, nutrition, carbon capture, energy, power generation, nuclear, chemical, liquid natural gas, water, and mining and minerals.

Upon closing, the combined company’s board will comprise 12 directors, six of whom will be from Chart and six from Flowserve.

Jill Evanko, president and CEO of Chart, will serve as the chair of the combined company’s board of directors, while Scott Rowe, president and CEO of Flowserve, will serve as CEO of the combined company.

The combined company will have its headquarters in Dallas, Texas, and expects to maintain a presence in Atlanta and Houston, supported by a global footprint across more than 50 countries.

Also, the combined company will assume a new name and brand following close.

The transaction is expected to close in the fourth quarter of 2025, subject to approval of shareholders of both Chart and Flowserve, the receipt of regulatory approvals, and the satisfaction of other customary closing conditions