Heat transfer, separation and fluid handling firm Alfa Laval has agreed to buy submerged pump systems firm Frank Mohn AS for NOK 13 billion from Wimoh AS.
Alfa Laval said the move, which includes the Framo brand products, would strengthen its fluid handling portfolio, by adding the Frank Mohn’s pumping technology.
Wimoh AS is a company controlled by the Mohn family. Frank Mohn, founded in 1938 and headquartered in Bergen, Norway, has about 1200 employees and NOK 3.4 billion sales. It had an order intake of NOK 6.1 billion in 2013.
“Frank Mohn is an excellent company that we have been following closely for several years”, says Lars Renström, President and CEO of Sweden-based Alfa Laval Group. “It has highly skilled employees, high quality products, and a market-leading position within segments offering attractive long-term growth prospects.”
Frank Mohn’s main product in the marine segment is its unique submerged cargo pumping system, which helps maximize the use of product and chemical tankers.
In oil and gas, Frank Mohn provides packaged pumping systems for offshore installations, including seawater lift, water injection, and fire water pumping systems.
Frank Mohn also provides technical support during installation and professional service throughout the lifetime of the installed systems.
When the deal completes, Alfa Laval intends to include Frank Mohn and the product brand Framo in the Marine & Diesel division, headed by Peter Leifland, Executive Vice President, Alfa Laval Group.
The company will be kept together and form a new segment in the Marine & Diesel division, under the same management as today. The activities in the Bergen area in Norway; the new office and sales & service facility at Askøy – as well as production facilities at Fusa, Flatøy and Frekhaug – will become Alfa Laval’s operational center for marine and offshore pumping systems. Alfa Laval’s other marine operational centers are in Aalborg, Denmark, and Tumba, Sweden.
Over the last five years, Alfa Laval has acquired about 20 companies with total sales, the year prior to the acquisitions, of about SEK 7.5 billion.