Swedish industrial heavyweight Alfa Laval AB is set to supercharge its position in the global gas market with the acquisition of Fives Cryogenics, the cryogenics arm of French conglomerate Fives Group, for a staggering €800 million ($870 million). The deal, executed as an all-cash, debt-free transaction, will bring cryogenic technology expertise into Alfa Laval’s portfolio, a move poised to redefine energy efficiency and accelerate the energy transition.
A Chillingly Strategic Move
Cryogenics is the backbone of modern gas liquefaction, allowing materials to be stored and processed at ultra-low temperatures—often plummeting below -150 degrees Celsius (-238°F). With this acquisition, Alfa Laval will integrate Fives Cryogenics’ advanced heat exchangers and pump systems, solidifying its grip on a sector vital to the future of industrial energy.
“This deal isn’t just about expanding our portfolio; it’s about pioneering the future of energy efficiency,” said Tom Erixon, CEO of Alfa Laval, in a statement to Nasdaq Stockholm. “The synergies between Fives Cryogenics’ expertise and Alfa Laval’s stronghold in the global gas market are immense.”
