Alfa Laval has successfully completed the acquisition of the cryogenic business of Fives (Fives Energy Cryogenics), a globally recognized specialist in cryogenic heat transfer and pump technologies. With this move, Alfa Laval strategically expands its portfolio and underscores its determination to drive innovative solutions for the energy sector.
By integrating Fives Energy Cryogenics, Alfa Laval strengthens its technological base with the clear goal of actively supporting the global transition to clean energy. The heat exchangers and pumps developed by Fives play a key role in the efficient liquefaction, regasification, and transportation of gases such as LNG and hydrogen, as well as industrial gases such as carbon dioxide and nitrogen. The new business thus complements Alfa Laval's existing market position in the LNG sector and strengthens its expertise in hydrogen technologies and CO₂ capture.
"This acquisition is a strategic milestone for Alfa Laval. By integrating Fives Energy Cryogenics' state-of-the-art cryogenic technology into our portfolio, we are not only expanding our technological capabilities, but also strengthening our commitment to driving the energy transition. With this acquisition, we are positioning ourselves at the forefront of innovation in key future markets and enabling sustainable volume growth and value creation," says Tom Erixon, CEO and President of Alfa Laval.
Fives Energy Cryogenics brings over 65 years of experience in the development and manufacture of cryogenic solutions. The company is headquartered in France and operates production sites in France, China, and Switzerland.
With more than 700 employees and sales of around 200 million euros in 2024, the cryogenics business will be run as an independent business unit within Alfa Laval's Energy Division. Integration will begin immediately.
