Alfa Laval to acquire Fives Cryogenics from Fives Group for €800m.

Alfa Laval, a company specializing in heat transfer, separation, and fluid handling technologies, agreed to acquire Fives Cryogenics, a business unit focused on cryogenic heat transfer and pump technologies, from Fives Group, an industrial engineering group specializing in various sectors, for €800m. “By adding cryogenic technologies to the Alfa Laval portfolio, we would expand our capabilities to move energy efficiency and the energy transition forward. We believe that Fives Cryogenics would be an excellent addition to Alfa Laval, and we see strong potential in the business and key synergies between Fives Cryogenics’ deep technological expertise in cryogenics and Alfa Laval’s strong position in the global gas market," Tom Erixon, Alfa Laval President and CEO.