Hetsco, Inc. has been acquired by Chart Industries, Inc.

Global Power Equipment Group Inc. (Global Power) has sold Hetsco, Inc. to Chart Industries, Inc. Financial details have not been disclosed.

Hetsco is a recognized service provider to the cryogenic industry in the repair of aluminum brazed fin heat exchangers, domestically and globally. The company fabricates high quality cold boxes, specialty pressure vessels, columns and components for the gas processing industry. Hetsco also provides specialty welding for the power generating industry. In addition to planned or unplanned outage work, the firm provides full construction services to install new or relocated units, as well as major modifications to existing units. Hetsco also provides safety services for high angle rescue, permitted confined space monitoring and safety supervision.

Chart Industries, with a market value of over US$1 billion, manufactures cryogenic equipment used in the production, storage and distribution of liquefied natural gas and industrial gases. Chart's products are critical components in the separation of oxygen, nitrogen and noble gases from air and in the processing and liquefaction of natural gas. Their distribution and storage products and engineered systems are fundamental to the delivery and end use of liquid gases across a multitude of applications in industry and for energy. In the life sciences sector, Chart’s MVE brand is the benchmark for biological storage systems, used for the cryogenic preservation of human and animal tissues. Chiefly through the CAIRE brand, Chart is the leading provider of respiratory products for the home healthcare market. Chart has domestic operations located in eight USA states and international engineering and manufacturing in Australia, China, the Czech Republic, Germany and the UK.

Global Power is a leading provider of custom-engineered auxiliary equipment and maintenance support services for the global power generation industry. As energy demand increases worldwide, demand for power generation products and services is also expected to increase. Global Power has the knowledge, manufacturing capabilities, skills and safety record needed by the power generation industry to meet the challenge of supplying growing power demand. The company's vast product portfolio spans from auxiliary equipment for gas turbines to small, high alloy parts such as seals, shims and brackets. The company also offers a broad range of services that have been enhancing plant asset value for over fifty years, including general and specialty construction, maintenance and modification, and plant management support services. Global Power covers the full life cycle from new build engineering, procurement and construction (EPC) of power plants to plant construction, maintenance, upgrades, power uprates and material condition improvements.

One of Oaklins' teams in New York served as the exclusive financial advisor to Global Power Equipment Group Inc. in the sale of Hetsco, Inc. to Chart Industries, Inc. (NASDAQ:GTLS).