Chart Industries Acquires AdEdge For $40M

Chart Industries, Inc. GTLS acquired AdEdge Holdings, LLC, a water treatment technology and solution provider, for a purchase price of $40 million in cash.
In addition to over 20 specific targeted contaminants, AdEdge provides solutions for removing perfluorinated alkylated substances (PFAS), perfluorooctane sulfonic acid (PFOS), and other persistent organic compounds.
"We intend to offer AdEdge's solutions for PFAS and PFOS removal in a containerized package, using our Treatment-as-a-Service (TaaS) business model," commented Chart's CEO and President Jill Evanko.
Chart Industries held cash and cash equivalents of $198 million as of June 30, 2021.
AdEdge will be immediately accretive to Chart (with gross margins as a percent of sales averaging 32-35%) and will contribute ~$35 million to $40 million of revenue and ~$0.11 to $0.16 of adjusted non-diluted EPS to its FY22 outlook.
Price Action: GTLS shares are trading lower by 0.49% a $185.72 on the last check Monday.