Air Liquide has acquired Cryotainer, a leading player in nitrogen (N2) supply and related services in Benelux, France and Germany.
The takeover is expected to enhance the Tier One player’s expertise in service-based temporary N2 supply, especially in the petrochemical, refining and pipeline industries in the region.
Cryotainer provides customised services for ad’hoc industrial operations that require N2 supply in logistically challenging situations. The company generated revenues close to €4m ($4.2m) in 2016.
The activities will continue to be managed by the existing Cryotainer organisation from its headquarters in Schiedam, the Netherlands.
Whilst financial details remained undisclosed, it is understood that Air Liquide will benefit from an enlarged portfolio of equipment and services to develop a leading position in gas related services in Europe via the takeover.
Lars Stranberg, Vice-President of Air Liquide, North-West Europe, said that the acquisition is in line with the industrial gas giant’s growth strategy and added, “Cryotainer is the perfect fit for us having a world leading modular high quality equipment with a passionate and dedicated team that meet our customers’ expectations.”
Founded in Belgium in 1906 and in the Netherlands in 1913, Air Liquide currently operates 27 industrial sites throughout the Benelux. The Air Liquide Benelux Large Industries business line operates a pipeline network stretching over 2,000kms, which supplies the industrial basins from Mons to Rotterdam.