2010-12-07 Financial news
Alfa Laval continues to expand its product portfolio – acquires leading heat exchanger company
Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – has acquired the Italian company Olmi S.p.A., a leading company specialized in the designing and manufacturing of shell & tube heat exchangers and air coolers for niche applications in the petrochemical, power and oil & gas industries.
Lars Renström, President and CEO of the Alfa Laval Group, comments on the acquisition: “The acquisition of Olmi will substantially strengthen our platform to expand into the high pressure, high temperature heat exchanger market. At the same time, Alfa Laval’s strong global presence allows us to take the offering to new geographical markets and customers.”
Olmi has sales of about SEK 700 million, with approximately 240 employees working in R&D, manufacturing and sales. The transaction was completed based on an enterprise value of approximately SEK 500 million. The purchase agreement includes a limited earn-out opportunity for the seller.
The intention is to integrate Olmi into Alfa Laval as a competence centre based on their unique know-how. The company was consolidated into Alfa Laval from December 6, 2010.
Did you know that… Olmi S.p.A. has been a family owned business since 1933 with offices and manufacturing unit located in Suisio near Bergamo in northern Italy?
About Alfa Laval
Alfa Laval is a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling.
The company’s equipment, systems and services are dedicated to assisting customers in optimizing the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce food and beverages, chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol.
Alfa Laval’s products are also used in power plants, aboard ships, in the mechanical engineering industry, in the mining industry and for wastewater treatment, as well as for comfort climate and refrigeration applications.
Alfa Laval’s worldwide organization works closely with customers in nearly 100 countries to help them stay ahead in the global arena.
Alfa Laval is listed on the Nordic Exchange, Nordic Large Cap, and, in 2009, posted annual sales of about SEK 26 billion (approx. 2.45 billion Euros). The company has 11,400 employees.
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