After five years’ ownership, Altor 2003 Fund and LD Equity 1 K/S are now divesting Aalborg Industries to the Swedish industrial group Alfa Laval which thus further consolidates its position as the world’s leading supplier of equipment for heat transfer, centrifugal separation and fluid handling.
Today, Aalborg Industries is a focused and very profitable global company with 2,600 employees and subsidiaries in 14 countries. Over the past five years, Aalborg Industries has achieved growth of almost 65% and increased its contribution margin considerably in the same period. These results were achieved by virtue of the company’s status as the undisputed global market leader in the fields of energy and heating plants for maritime applications and the significant position it enjoys within selected industrial business areas.
Concurrently, targeted product development to enhance the environment has been carried out; this is expected to have a substantial impact on the opportunities for growth open to the company. In addition to consolidating its position as a supplier of new products, over the past four years Aalborg Industries has doubled its service activities and today offers lifetime service of the Group’s products via its global service network.
“Aalborg Industries is now positioned for a new period of growth. The Group’s core business has been supplemented with new products in the field of environmental technology that open up new growth potential going forward. Accordingly, it was natural for us to let a new owner continue the development of Aalborg Industries. We regard Alfa Laval as the ideal partner for the company, since the two companies complement each other in a positive way,” says Denis Viet-Jacobsen, Partner at Altor.
Jan Vestergaard Olsen, President & CEO of Aalborg Industries, says: “After five years’ successful collaboration with the present owners, Aalborg Industries is on the threshold of a new era. Having Alfa Laval as an ideally suited owner and working with 12,000 new colleagues opens up new opportunities to exploit our common core competences and ongoing development of existing business areas as well as new ones. A strong strategic correlation between the two companies has been identified during the discussions with Alfa Laval, and our management is very much looking forward to becoming a part of this, together with our 2,600 employees in the Aalborg Industries Group.”
Alfa Laval, listed on the stock exchange in Stockholm, Sweden, has approximately 12,000 employees and operates in approximately 100 countries. Its core products are heat exchangers, separators and various fluid handling products, and in the last financial year the company had revenues of approx. SEK 26bn.
Lars Renström, President & CEO of Alfa Laval, says: “The acquisition of Aalborg Industries will be a significant boost to Alfa Laval’s position in the field of heat transfer. This will give Alfa Laval a position as global market leader within an attractive business segment that includes boilers, thermal fluid systems and inert gas systems. Historically, Aalborg Industries has proved it has an impressive ability to adapt to new challenges and today the company has a cost-effective supply chain and is present in the rapidly growing markets of China, Vietnam and Brazil. We are very much looking forward to welcoming the management and employees of Aalborg Industries to Alfa Laval.”
The transfer deal is subject to approval by the competition authorities.
For further information on this press release, please contact:
Aalborg Industries
Jan Vestergaard Olsen, President & CEO, tel +45 9930 4000
Facts about Aalborg Industries Aalborg Industries traces its origins back to the former Aalborg Shipyard. The company was founded in 1912
and supplied its first boiler back in 1919. Aalborg Industries is the undisputed market leader with a global
market share of more than 50% of the maritime boiler market. The company’s headquarters remains in
Aalborg, with almost 500 employees, but efforts to become globally competitive have resulted in the
establishment of production facilities in Denmark, Brazil, China and Vietnam. The company operates via its
own subsidiaries in 14 countries and has a total staff of approximately 2,600. Furthermore, a global service
network has been established offering services to shipownes, shipyards and industrial customers
worldwide. The product range includes marine boilers, heat exchangers, thermal fluid systems, inert gas
systems and industrial plants for selected markets. In 2009, the revenue amounted to DKK 2,761m and the
profit ratio was 16.4% (EBITA). Earnings are expected to remain at the same level in 2010.
