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Alfa Laval signs an agreement to acquire the cryogenics business from the French group Fives

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LUND, Sweden, March 21, 2025 /PRNewswire/ — Alfa Laval today announces that it has signed a binding put-option agreement to acquire the Fives Cryogenics business unit, part of Fives Group, for a total fixed purchase price of EUR 800 million on a cash and debt-free basis. Fives Cryogenics is a world-leading expert in cryogenic heat transfer and pump technologies, headquartered in France. The proposed acquisition remains subject to consultation with the relevant works councils, after which the parties expect to enter into a definitive purchase agreement. This proposed acquisition would provide Alfa Laval with a strong portfolio of heat transfer and pump products for gas liquefaction.

Cryogenic technologies are crucial both for traditional gases like LNG and for emerging gas applications like hydrogen and carbon capture. Fives Cryogenics has more than 60 years of experience designing and manufacturing cryogenic heat exchangers and pumps for gas liquefaction. The company holds a strong position in the world market with manufacturing facilities in France, China and Switzerland. Fives Cryogenics employs more than 700 people and in 2024 had revenue of approximately EUR 200 million. Looking forward, the company is expected to generate revenue of EUR 200-250 million and be neutral to positive to the Alfa Laval group margin.

“By adding cryogenic technologies to the Alfa Laval portfolio, we would expand our capabilities to move energy efficiency and the energy transition forward,” says Tom Erixon, President and CEO, Alfa Laval. “We believe that Fives Cryogenics would be an excellent addition to Alfa Laval, and we see strong potential in the business and key synergies between Fives 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.” 

“In the next growth phase, building on the investments realized and committed by the Fives Group, Fives 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, Fives Cryogenics would have a strong owner who I know would develop the company and the team further,” says Frédéric Sanchez, CEO of the Fives Group.

From an organizational perspective, the cryogenic business would be part of Alfa Laval’s Energy Division and operate as a new separate business unit.

Closing of the transaction is subject to the necessary regulatory approvals and is expected during 2025. The all-cash transaction will be funded by existing liquidity and debt financing. Jefferies acts as financial advisor to Alfa Laval, while White & Case acts as legal advisor.

This is information that Alfa Laval AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at CET 07:30 on 21 March 2025.

Contacts
Johan Lundin
Head of Investor Relations, Alfa Laval
Mobile: +46 730 46 30 90
johan.lundin@alfalaval.com

Sara Helweg-Larsen
Head of Communications, Alfa Laval
Mobile: +46 730 35 80 98
sara.helweglarsen@alfalaval.com

This is Alfa Laval

The ability to make the most of what we have is more important than ever. Together with our customers, we’re innovating the industries that society depends on and creating lasting positive impact. Alfa Laval is a leading global provider of first-rate products in the areas of heat transfer, separation and fluid handling. We’re set on helping billions of people to get the energy, food, and clean water they need. And, at the same time, we’re decarbonizing the marine fleet that is the backbone of global trade.

We pioneer technologies and solutions that enable our customers to unlock the true potential of resources. As our customers’ businesses grow stronger, the goal of a truly sustainable world edges closer. The company is committed to optimizing processes, creating responsible growth, and driving progress to support customers in achieving their business goals and sustainability targets. Together, we’re pioneering positive impact.

Alfa Laval was founded 140 years ago, has customers in 100 countries, employs more than 22,300 people, and annual sales were SEK 66.9 billion (5.8 BEUR) in 2024. The company is listed on Nasdaq Stockholm. 
www.alfalaval.com

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/alfa-laval/r/alfa-laval-signs-an-agreement-to-acquire-the-cryogenics-business-from-the-french-group-fives,c4122168

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Alfa Laval signs an agreement to acquire the cryogenics business from the French group Fives Corporate press release 2025-03-21

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SOURCE Alfa Laval

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OMNIA Partners Names Ashish Agarwal Executive Vice President of Technology

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Agarwal’s hire reflects OMNIA Partners’ commitment to delivering value through cutting-edge procurement solutions

FRANKLIN, Tenn., March 31, 2025 /PRNewswire/ — Today, OMNIA Partners, the nation’s largest and most experienced group purchasing organization for the public and private sectors, announced that Ashish Agarwal will be joining the Executive Leadership team as Executive Vice President of Technology, reporting to Founder, President, and CEO Todd Abner.

In his new role, Agarwal will oversee IT Infrastructure, Data Engineering, Software Development, and Marketing Technology. At a time when 65% of Chief Procurement Officers (CPOs) report being only somewhat confident in their ability to effectively leverage artificial intelligence over the next 12 months, his leadership will be crucial to maintaining and improving OMNIA Partners’ data infrastructure in addition to evaluating and adopting emerging technologies across the organization.

“Ashish brings the perfect blend of technical expertise and strategic vision to accelerate OMNIA Partners’ digital transformation,” said Todd Abner, OMNIA Partners Founder, President, and CEO. “Emerging technologies and artificial intelligence are redefining what’s possible and empowering the procurement industry to thrive in a rapidly evolving marketplace.”

Agarwal comes to OMNIA Partners with more than 25 years in technology leadership with expertise in product development, digital innovation, and data and analytics across B2B and B2C digital commerce organizations. Prior to OMNIA Partners, Agarwal was focused on shaping technology strategies while driving business impact through innovative, data-driven solutions. He holds a Master of Science in Computer Science from Kent State University, a Master of Business Administration from Georgia State University, and certificates in Data Science/Machine Learning from University of California, Berkeley and Harvard University. Agarwal serves on the Executive Council of Apparo, a leading technology nonprofit organization.

“Throughout my career, I’ve seen how the right technology can transform business operations and create meaningful efficiencies,” said Agarwal. “I’m looking forward to working alongside the OMNIA Partners team to develop and implement solutions that make a tangible difference for our members.”

OMNIA PARTNERS

OMNIA Partners is the largest and most experienced purchasing organization for the public sector, private sector, nonprofit, real estate, and private equity markets. With more than $30B in B2B spending managed each year, its immense purchasing power and industry-leading suppliers have produced an extensive portfolio of procurement solutions and partnerships, making OMNIA Partners the most valued and trusted procurement resource for organizations nationwide.

www.omniapartners.com

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SOURCE OMNIA Partners

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Chef Robotics Announces $43M Series A Round Led by Avataar Ventures to Scale the Deployment of AI-Enabled Robotics

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SAN FRANCISCO, March 31, 2025 /PRNewswire/ — Today, creators of AI-enabled robotic systems for meal assembly Chef Robotics announced it has raised $43.1M in new Series A funding that includes $20.6M in equity and $22.5M in equipment financing debt; the latter will be used to cover the financing of Chef’s robotic systems for Robotics-as-a-Service (RaaS) so Chef’s customers don’t have to front CapEx for their robots.

The equity round was led by Avataar Ventures and included investments from Construct Capital, Bloomberg Beta, Promus Ventures, MFV Partners, Interwoven Ventures, HCVC, MaC Venture Capital, Red and Blue Ventures, Tau Partners, Alumni Ventures, Siddhi Capital, and BOLD Capital Partners. The new funding brings Chef’s total capital raised to $65.6M which consists of $38.8M in equity and $26.75M in equipment financing, all with Silicon Valley Bank, a Division of First Citizens Bank.

Chef has quickly cemented its standing as the industry leader in AI-enabled robotics for meal assembly. Now at over 44M servings produced and counting through robot deployments at leading brands such as Amy’s Kitchen, Sunbasket, Chef Bombay, and Cafe Spice, Chef has procured more meals than all other existing food robotics startups combined. The data that Chef collects on each meal assembled is critical to the company as it relies on real-world production data to train its AI models.

The funding round will allow Chef to accelerate production deployments of its robotic systems, providing momentum for the real-world AI data engine flywheel that the company credits for its rapid growth rate of meals produced. Given food is highly variable, Chef requires high volumes of production data over prolonged periods of time for optimal model performance. The more data Chef collects in the field, the more its systems’ performance improves, the more customers use Chef’s robotic systems, the more customers expand; this expansion in turn creates more runtime in production leading to more data from the field; it also means that when Chef approaches new customers, Chef can help manipulate their ingredients from the get-go, further accelerating the flywheel’s momentum.

“Robotics is really having a moment right now. The innovations in AI have unlocked the potential of Embodied AI for robotics. We believe we’re in the pole position to scale given all the real-world production training data we already have,” says Rajat Bhageria, Founder and CEO of Chef Robotics.

“AI in the physical world is happening right now with robotics. Food is one of the largest markets in the world. Industrial AI is already winning, and food packaging automation is quietly transforming how we get our meals. Chef has quickly cemented its standing as the industry leader in AI-enabled robotics for meal assembly at over 44M servings produced and counting. We look forward to this exciting partnership with Chef Robotics as they expand their global leadership,” said Mohan Kumar, Founder and Managing Partner of Avataar Ventures.

Additionally, this infusion of funds will enable Chef to scale its go-to-market team and efforts. The funding round equips Chef to further invest in non-engineering functions like sales and marketing to scale its deployments.

Chef currently serves customers in the U.S. and Canada, with plans to expand to the U.K. market in 2025. For more on customer impact, visit www.chefrobotics.ai/customer-impact.

About Chef Robotics
Chef is the first company to have commercialized a scalable AI-driven food robotics solution. With over 44 million servings made in production, Chef leverages ChefOS, an AI platform for food manipulation, to offer a Robotics-as-a-Service solution that helps industry-leading food companies increase production volume and meet demand. Headquartered in San Francisco, CA, Chef aims to empower humans to do what humans do best by accelerating the advent of intelligent machines.

About Avataar Ventures
Avataar Venture Partners is a growth-stage B2B fund focused on investing in companies at their inflection point for scaling. Avataar’s full-stack Operating team works closely with portfolio companies across Strategy, Global GTM, Inorganic growth via M&A, Business Finance and IPO-readiness. We invest in Software, Deep Tech, AI in Industrial Automation and Robotics and Capital Efficient B2B2C businesses. More at www.avataar.vc.

Media Contacts
Rajat Bhageria
rajat@chefrobotics.ai

Sarah Mowad
sarah@chefrobotics.ai 

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SOURCE Chef Robotics

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COLERIDGE INITIATIVE’S 5TH ANNUAL NATIONAL CONVENING HIGHLIGHTS THE FUTURE OF DATA-DRIVEN POLICY FOR PUBLIC GOOD

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Data Leaders Converge to Champion Evidence-Based Policy at Critical Time

WASHINGTON, March 31, 2025 /PRNewswire/ — The Coleridge Initiative hosted its 5th Annual National Convening in Arlington, VA, from March 26-28, bringing together nearly 300 data experts, policymakers and thought leaders to explore the transformative power of administrative data in shaping public policy. This year’s Convening, titled Empower Collaboration, Unlock Innovation, and Drive Impact, underscored how strategic partnerships and groundbreaking technology are impacting decision making for state, federal, and private sectors and unlocking the potential of data for public good.

“We stand at a pivotal moment when the need for secure, accessible, and elegant data has never been more critical,” said Dr. Ahu Yildirmaz, President and CEO of the Coleridge Initiative. “This Convening highlights that need and the huge opportunity we have to work in partnership to advance data infrastructure, governance, and accessibility to drive better policies that improve lives.”

The keynote address by Mark Zandi, Chief Economist at Moody’s, emphasized the urgent need for data-driven policymaking amid funding constraints and workforce reductions. “We have seen the quality of data eroding, and it is increasingly difficult to trust traditional sources,” said Zandi. “Data is critical to understanding what is going on and how we respond.”

Yildirmaz celebrated five years of growth and looked to the future: “We are building something greater than a platform – we’re working to generate a network effect,” said Yildirmaz. “Coleridge is not just building a technology platform—we’re helping shape a national data ecosystem. One where every dataset, every agency, every partner contributes to something larger than itself.”

Attendees rose to the challenge, focusing on collaboration between organizations and groundbreaking innovations in data integration to achieve meaningful impact on a range of societal issues. Discussions included:

Empowering Collaboration Across the Public and Private SectorsData Innovation to Drive Opportunity and Access in Higher EducationUnlocking Responsible AI Uses with State and Federal DataBest Practices for Data Sharing, Governance, and InfrastructureMulti-State Data Collaborative (MSDC) Real-World Outcomes

View the full Convening agenda

A standout moment of the Convening was the presentation of the Data Champion of the Year Award to Robert McGough, Chief Data Officer for the state of Arkansas. The award recognizes exceptional leadership in advancing data-driven innovation in the public sector.

“I am honored to be recognized as Data Champion of the Year, especially among the many incredible data professionals from whom I have learned so much,” said McGough. “Mike Rogers (Chief Workforce Officer), Dr. Jake Walker (Chief Research Officer), and I sincerely appreciated the opportunity to share how Arkansas is digitally transforming learning, employment, and advancement through new platforms and improving whole-person care through the Arkansas Integrated Referral and Outcomes System (AIROS). The Coleridge Initiative has been a vital partner in Arkansas’ data journey, and I am excited about the new efforts we have underway this year and the value they will provide to Arkansas and beyond.”

About The Coleridge Initiative, Inc.

The Coleridge Initiative is a nonprofit organization working with governments to ensure that data are more effectively used for public decision-making. Coleridge provides agencies with the opportunity to enhance their data literacy and collaborate within and across states to develop new technologies through the secure access and sharing of confidential microdata. Coleridge provides secure data enclave services to a diverse range of clients, including 24 state government agencies and several federal agencies, through the Administrative Data Research Facility (ADRF). The ADRF is a FedRAMP-authorized cloud-based platform that enables government agencies to link their longitudinal data with other states and agencies. To learn more, visit
www.coleridgeinitiative.org

Media Contact: Nick Obourn, nick.obourn@coleridgeinitiative.org

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SOURCE Coleridge Initiative

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