KPS Capital Partners will sell Scottish portfolio company Howden, a provider of air and gas handling solutions, to Chart Industries for $4.4bn, according to a press release.
Morgan Stanley, J.P. Morgan, Barclays and Evercore served as financial advisors and Paul Weiss, Rifkind, Wharton & Garrison served as legal counsel to KPS and Howden.
Chart Industries is a Ball Ground, Georgia based manufacturer of equipment servicing applications in the clean energy and industrial gas markets. In 2021, Howden signed an MOU with Chart including the construction of a new hydrogen liquefaction plant in Canada.
Howden manufactures a portfolio of rotating equipment products, including compressors, blowers, fans, rotary heaters and steam turbines. Under KPS’ ownership, Howden entered or expanded its presence in end-markets that are critical to the future of the industrial economy, including hydrogen compression.
Headquartered in Renfrew, Scotland, Howden employs more than 6,500 associates globally in 35 countries, including over 750 engineers
KPS acquired Howden in 2019 from Colfax Corporation.
