Alfa Laval has completed the acquisition of the cryogenics business unit of Fives (Fives Energy Cryogenics), an expert in cryogenic heat transfer and pump technologies. This acquisition marks a strategic extension of Alfa Laval's portfolio, underscoring its dedication to pioneering innovative solutions in the energy sector.

The acquisition of Fives Energy Cryogenics 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 H₂, 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 H₂ 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. The company holds a strong position in the world market with its headquarters in France and manufacturing facilities in France, China and Switzerland. Fives Energy Cryogenics employs more than 700 people and reported approximately €200 MM 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.