Alfa Laval has completed the acquisition of Frank Mohn AS, following approval from competition authorities. With the acquisition, Alfa Laval adds marine and offshore pumping systems to its portfolio.
Alfa Laval buys Frank Mohn, with the product brand Framo, for a total cash consideration of NOK 13 billion, on a cash and debt free basis, from Wimoh AS, a company controlled by the Mohn family.
Frank Mohn, headquartered in Bergen, Norway and with approximately 1200 employees, generated sales of NOK 3.4 billion and had an order intake of NOK 6.1 billion in 2013. The operating margin is significantly above the Alfa Laval average. The acquisition, consolidated as of May 22, will be accretive to EPS as from the closing.
Submerged Cargo Pumping System
Frank Mohn’s main product in the marine segment is its submerged cargo pumping system, which plays a vital part in maximising the utilisation of product and chemical tankers. The system enables safe and flexible cargo handling performance for quicker turnaround time and fewer voyages in ballast.
In the oil & gas segment, Frank Mohn offers packaged pumping systems for offshore installations including seawater lift, water injection and fire water pumping systems contributing to safe and efficient operations.
