Alfa Laval completed the acquisition of Fives Cryogenics from Fives Group for €800m.

Alfa Laval, a company specializing in heat transfer, separation, and fluid handling technologies, completed the acquisition of 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 ($869m). "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," Tom Erixon, Alfa Laval CEO and President.