Intermodal logistics solutions provider Modalis has acquired compressed and cryogenic gas logistics company Air Flow.
Bernard Mei, CEO of Modalis, said the acquisition will allow Modalis to accelerate its development in the new energies logistics space and boost its activities outside of Europe.
Air Flow has a network of logistic bases in Antwerp, Algeciras, Singapore, and Houston and services customers in over 100 countries globally. It has 90 employees and a turnover of €30m ($33m).
Earlier this year (July 2024), the company celebrated 20 years of business. Air Flow was founded by its President, Pierre Fiat, with the purchase of its first cryogenic gas container.
Over time, he grew the fleet to meet growing demands from its customer base.
Read more: Air Flow celebrates 20 years of business
Mei added, “We are delighted to welcome Air Flow’ teams, recognised for its expertise in hydrogen and captured carbon logistics.”
“The two Aix-en-Provence-based companies now joined have become a major medium sized business in the region with good growth momentum, investments, staff and international activity.”
Modalis was founded in 2022 and has several subsidiaries in France, Spain, and Italy. The company has almost 100 employees and manages a fleet of 4,000 intermodal transport units (ITUs).
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