Alfa Laval has completed the acquisition of Frank Mohn AS, following approval from competition authorities.
The acquisition, which adds marine and offshore pumping systems, represents a significant business opportunity as it further strengthens Alfa Laval’s position as a leading provider of critical systems for marine and offshore oil and gas production units.
The cash consideration totals $2.18 billion, on a cash and debt free basis.
In 2013 Frank Mohn AS, which has some 1,200 employees, reported sales of $571 million and an order intake of $1.02 billion. The acquisition, consolidated as of May 22, will be accretive to EPS as from the closing.
“Frank Mohn AS is an excellent and well-run company,” says Lars Renström, President and CEO of the Alfa Laval Group. “I am very pleased to welcome all its employees and its customers to Alfa Laval.”
The acquisition strengthens Alfa Laval’s product offering as regards to fluid handling equipment and it also strengthens Alfa Laval’s position in the marine and offshore markets. Frank Mohn AS, with the brand name Framo, is a leading supplier of submerged pumping systems to these markets.