Alfa Laval completes Fives Energy Cryogenics acquisition

According to a statement, the acquisition of Fives Energy Cryogenics, for a total fixed purchase price of EUR 800 million on a cash and debt-free basis, introduces a strong technology platform, further positioning Alfa Laval to support the global shift towards cleaner energy.

The heat exchangers and pumps developed by Fives Energy Cryogenics are essential for the efficient liquefaction, regasification, and transportation of gases like LNG and hydrogen, as well as industrial gases such as carbon dioxide and nitrogen.

This capability will extend Alfa Laval’s existing offerings in the LNG market and complement Alfa Laval’s strengths in hydrogen and carbon capture.

This acquisition is a strategic milestone for Alfa Laval. By integrating Fives Energy Cryogenics’ cutting-edge cryogenic technology to our portfolio, we are not only extending our technological capabilities but also reinforcing our commitment to driving the energy transition. This acquisition positions us at the forefront of innovation in important future markets, enabling sustainable volume growth and value creation, said Tom Erixon, CEO and President, Alfa Laval.

Fives Energy Cryogenics has more than 65 years of experience designing and manufacturing cryogenic heat exchangers and pumps for gas liquefaction and holds a strong position in the world market.

With its headquarters in France and manufacturing facilities in France, China, and Switzerland, it employs more than 700 people and reports approximately EUR 200 million in revenue in 2024.

The cryogenic business will become part of Alfa Laval’s Energy Division and will operate as a new separate business unit. The integration will start immediately.

The closing of the acquisition was subject to necessary regulatory approvals.