Alfa Laval buys Olmi SpA

Alfa Laval has acquired the Italian company Olmi S.p.A., a leading company specializing in the design and manufacture of shell and tube heat exchangers and air coolers for niche applications in the petrochemical, power and oil and gas industries.

Lars Renström, President and CEO of the Alfa Laval Group, commented 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, AlfaLaval’s strong global presence allows us to take the offering to new geographical markets and customers.” Olmi, a family owned business since 1933, 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 previous owners. 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.

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