Alfa Laval Acquires Cryogenics Business from Fives S.A.S. for €800 million

Alfa Laval AB acquired Fives S.A.S.'s Cryogenics Business for €800 million on July 8, 2025. The deal includes Fives Cryo SA, Fives Cryomec AG, Fives Cryo Inc, and Fives Cryo (Suzhou) Co., Ltd. The cryogenic business will operate as a separate unit within Alfa Laval's Energy Division and employs over 700 people. Jefferies Financial Group Inc. advised Alfa Laval, while White & Case LLP and Loyens & Loeff acted as legal advisors.

Swedish engineering group Alfa Laval AB has completed the acquisition of the cryogenics business unit of French company Fives S.A.S. for €800 million on July 8, 2025. The deal includes Fives Cryo SA, Fives Cryomec AG, Fives Cryo Inc, and Fives Cryo (Suzhou) Co., Ltd. The cryogenic business will operate as a separate unit within Alfa Laval's Energy Division and employs over 700 people [2].

The acquisition is a strategic move to strengthen Alfa Laval's position in the energy transition market. The cryogenic equipment designed by Fives Energy Cryogenics plays a key role in the efficient liquefaction, regasification, and transport of gases such as LNG, hydrogen, and industrial gases like nitrogen. This technology is essential for the efficient operation of these processes [1].

Fives Energy Cryogenics, with over 65 years of experience, holds a strong position in the world market with headquarters in France and manufacturing facilities in France, China, and Switzerland. The company reported approximately EUR 200 million in revenue in 2024 [2].

The integration of Fives Energy Cryogenics' technology will extend Alfa Laval's existing offerings in the LNG market and complement its strengths in hydrogen and carbon capture. This acquisition positions Alfa Laval at the forefront of innovation in important future markets, enabling sustainable volume growth and value creation [2].

Jefferies Financial Group Inc. advised Alfa Laval on the transaction, while White & Case LLP and Loyens & Loeff acted as legal advisors. The closing of the acquisition was subject to necessary regulatory approvals [2].

References:
[1] https://www.marketscreener.com/quote/stock/ALFA-LAVAL-AB-6494532/news/Alfa-Laval-acquires-Fives-cryogenics-business-50455507/
[2] https://www.marketscreener.com/quote/stock/ALFA-LAVAL-AB-120792079/news/Alfa-Laval-completes-acquisition-of-cryogenic-business-from-French-group-Fives-50452893/