CRYO International, an Air Liquide group subsidiary, has acquired UK-based PDP Couriers, a major player in the customised transport of clinical and medical research for the pharmaceutical and biotechnology industries.
PDP Couriers, who also supply temperature-sensitive samples and products, generated revenues of €21m ($23.4m) in 2015 and has capitalised on expanding markets in Eastern Europe, Latin America and Asia.
The acquisition is part of a new strategy for CRYO International, who are based in France and specialise in regulated temperature logistics solutions. The goal is to be able to offer its customers innovative and customised temperature-controlled logistics solutions anywhere in the world.
The French company specialises in using CARBOGLACETM – a form of dry ice. With a temperature of -78°C, it is widely used for transport and logistics in the pharmaceutical and agri-food industries as it is ideal for maintaining the integrity of sensitive products over several days.
Cédric Picaud, CEO of CRYO International, confirmed, “With this acquisition we are combining our know-how in CARBOGLACETM and temperature-controlled solutions with a premium logistics service. This expansion in our activities supports the geographical growth of our customers and their need for services with increased added value.”
And Guy Salzgeber, a member of the Air Liquide Group’s Executive Committee, added, “Cryo International illustrates the Group’s intention to seize growth opportunities in adjacent markets. The acquisition of PDP Couriers is very much in line with this approach.”