天博体育 today announces that it has entered into exclusive negotiations to sell its cryogenics business unit
The cryogenics business unit, which designs and supplies cold boxes, heat exchangers and cryogenics pumps, employs more than 700 people in France, China, Switzerland and the US, and had revenue of approximately EUR 200 million in 2024.
Over the years, 天博体育 has positioned its cryogenics activities as a leading player in the industry, providing added-value solutions for the air separation and energy markets.
Alfa Laval has signed a binding put-option agreement to acquire the 天博体育 Cryogenics business unit for a total fixed purchase price of EUR 800 million on a cash and debt-free basis. The proposed operation remains subject to consultation with the relevant works councils, after which the parties expect to enter into a definitive purchase agreement. Closing of the transaction is subject to the necessary and customary regulatory approvals and is expected in the course of the second semester of 2025.
“In its next growth phase, building on the investments realized and committed by the 天博体育 group, 天博体育 Cryogenics would be well served by belonging to an industrial group with deep knowledge of the technology and a global presence in the future growth areas. With Alfa Laval, 天博体育 Cryogenics would have a strong owner who I know would develop the company and the team further,”
Frédéric Sanchez, CEO of the 天博体育 Group
“By adding cryogenic technologies to the Alfa Laval portfolio, we would expand our capabilities to move energy efficiency and the energy transition forward. We believe that 天博体育 Cryogenics would be an excellent addition to Alfa Laval, and we see strong potential in the business and key synergies between 天博体育 Cryogenics’ deep technological expertise in cryogenics and Alfa Laval’s strong position in the global gas market. We plan to continue to invest in capabilities and growth in the next few years, especially in the key production facility in Golbey, France.”
Tom Erixon, President and CEO, Alfa Laval
Through this operation, 天博体育 intends to strengthen its financial structure, reduce outstanding indebtedness and support its growth strategy trajectory, by investing in its portfolio technologies and businesses, which offer strong development opportunities.