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Swedish manufacturer Alfa Laval AB (OMX: ALFA), a manufacturer in heat transfer, centrifugal separation and fluid handling, has agreed to acquire Frank Mohn AS, a manufacturer of submerged pumping systems to the marine and offshore markets, for a total cash consideration of NOK 13 billion (US$2.2 billion).
Frank Mohn, Bergen, Norway, has approximately 1,200 employees and generated sales of NOK 3.4 billion (US$566.5 million), with an order intake of NOK 6.1 billion (US$1 billion) in 2013.
With the acquisition of Frank Mohn, Alfa Laval also strengthens its fluid handling portfolio by adding industrial pumping systems to the existing range of equipment.
After closing, Alfa Laval intends to include Frank Mohn and the product brand Framo in the Marine & Diesel division, headed by Peter Leifland, executive vice president of the Alfa Laval Group.