LONDON - Alfa Laval of Sweden said Monday that it had agreed to acquire the Norwegian pump maker Frank Mohn for 13 billion Norwegian kroner, or about $2.17 billion.
The deal is expected to expand Alfa Laval’s product line in the marine and offshore oil and gas markets.
Alfa Laval will acquire Frank Mohn on a cash and debt-free basis from Wimoh, which is controlled by the Mohn family.
“Frank Mohn is an excellent company that we have been following closely for several years,†said Lars Renström, the Alfa Laval president and chief executive, in a statement.
“The combination of Frank Mohn and Alfa Laval will provide a very attractive offering of products, systems and services and it will strengthen our leading position as a provider of critical systems for ships and offshore oil & gas production units, with unmatched service capabilities.â€
The transaction is subject to regulatory approval.
Frank Mohn, based in Bergen, Norway, posted sales of 3.4 billion kroner in 2013 and employs about 1,200 people.
After the acquisition, the Frank Mohn business will form a new segment within Alfa Laval’s Marine & Diesel division.
In 2013, Alfa Laval had sales of 29.9 billion Swedish kroner, or about $4.57 billion, and employs about 16,300 people.
