July 2011 Tube Products International
9
news
business & market
Alfa Laval acquires heat exchanger
company – Olmi SpA
Alfa Laval, a specialist in heat
transfer, centrifugal separation and
fluid handling, has acquired Italian
company Olmi SpA, which designs
and manufactures shell & tube heat
exchangers and air coolers for niche
applications in the petrochemical,
power and oil & gas industries.
Lars Renström, president and CEO
of the Alfa Laval Group, commented,
“The acquisition of Olmi will
substantially strengthen our platform
to expand into the high pressure, high
temperature heat exchanger market.
At the same time, Alfa Laval’s strong
global presence allows us to take the
offering to new geographical markets
and customers.”
Olmi has sales of around SEK 700mn,
with approximately 240 employees
working in R&D, manufacturing and
sales.
The transaction was completed based
on an enterprise value of approximately
SEK 500mn, and the purchase
agreement includes a limited earn-out
opportunity for the seller.
The intention is to integrate Olmi into
Alfa Laval as a competence centre
based on its unique know-how.
Olmi SpA has been a family owned
business since 1933, with offices and
manufacturing unit located in Suisio
near Bergamo in northern Italy.
Alfa Laval’s equipment, systems
and services are dedicated to
assisting customers in optimising
the performance of their processes.
The solutions help them to heat,
cool, separate and transport
products in industries that produce
food and beverages, chemicals and
petrochemicals, pharmaceuticals,
starch, sugar and ethanol. Its products
are also used in power plants, aboard
ships, in the mechanical engineering
industry, in the mining industry and
for wastewater treatment, as well as
for comfort climate and refrigeration
applications.
Alfa Laval Group
– Sweden
National award for innovation and
economic growth
Advanced Cooling Technologies, Inc
(ACT), a thermal solutions provider, has
received a Tibbetts Award from the
Small Business Administration (SBA).
SBA presents the awards nationally to
small companies and individuals that
have advanced technical innovation
and economic growth through its Small
Business Innovation Research (SBIR)
programme.
ACT’s Tibbetts Award recognises the
company’s work in meeting the US
government’s needs for advanced
thermal management systems and
commercialising the technologies
in diverse applications. ACT was
specifically noted for its development
of constant conductance heat pipe
products and technology.
The now multi-million dollar business
initiated from a 2005 SBIR grant to
investigate heat pipe heat exchangers
for manned spacecraft. ACT has
successfully marketed this technology
in the aerospace/satellite industry and
is now an industry-wide recognised
supplier of these critical thermal control
components.
Named after Roland Tibbetts, who was
instrumental in developing the SBIR
programme, the Tibbetts award is
presented annually to awardees based on
economic impact of their technological
innovation, benefit to federal R&D needs,
increased commercialisation of federal
needs and diverse participation. Due
to budget constraints, the award had
not been issued in three years. Of the
thousands of firms participating in the
SBIR programme, only 44 companies
were recognised with this award.
Dr Jon Zuo, founder and president of
ACT, and Dr William Anderson, chief
engineer, accepted the award at a
ceremony in Washington, DC on 15
February. Administration officials
including Karen Mills, SBA administrator,
and Aneesh Chopra, chief technology
officer of the United States, addressed
the award ceremony. A private reception
was later held at the White House.
“This is a proud day not only for
Advanced Cooling Technologies, Inc,
but also for the City of Lancaster,”
said Sean Greene, SBA’s associate
administrator for investment and senior
adviser for innovation. “Companies like
ACT represent the best in American
ingenuity.”
Profitable since inception in 2003,
ACT has been recognised as one of
the fastest 50 growing companies in
Central Pennsylvania in three of the
last four years. ACT is a developer
and manufacturer of advanced heat
pipes, pumped liquid and two-phase
loops, and thermal storage devices.
The company specialises in technology
development and custom thermal
product design and manufacturing, and
its technologies have been used in
applications from spacecraft thermal
control to catalytic reactor cooling to
medical surgery temperature control.
ACT’s quality system is certified to
ISO9001:2008 and AS9100-B. The
company currently serves customers
worldwide in aerospace, military, com-
mercial, and government R&D markets.
Advanced Cooling Technologies, Inc
– USA
