Alfa Laval has signed and closed an agreement to acquire Standard Refrigeration, a supplier of shell-and-tube heat exchangers for refrigeration, industrial cooling and heating, and air-conditioning applications.

The Richmond, Va.-based manufacturer of heat transfer, centrifugal separation and fluid handling equipment expects the acquisition to strengthen its position in North America.

"By acquiring Standard Refrigeration, we are increasing our presence in the North American commercial refrigeration and industrial markets," said Lars Renström, president and CEO of the Alfa Laval Group. "Standard Refrigeration will be integrated into Alfa Laval in order to capture synergies such as a wider product portfolio combined with an enhanced market presence."

Standard Refrigeration was founded in 1922. Throughout its history, the company has built a reputation for providing heat exchangers for refrigeration applications that are not only innovative, but designed and manufactured to the highest standards of performance and quality. In 2007, the company had annual sales of approximately $36.5 million (SEK 220 million) and some 185 employees in two locations: Melrose Park (Chicago), Ill., and Grand Prairie (Dallas), Texas.

Standard Refrigeration will be consolidated in Alfa Laval from June 1.