Air Liquide

Air Liquide, founded in 1902, is a leading global provider of industrial gases and services, catering to over 3.8 million customers across 78 countries. The company generates approximately EUR 27.6 billion in revenue and serves a diverse range of industries, including chemicals, energy, healthcare, food and beverage, and electronics. Air Liquide is renowned for its innovative approach, initially focusing on the industrial production of oxygen from liquid air. To effectively address the unique needs of its varied clientele, the company is organized into specialized sectors, ensuring tailored solutions for industries such as steel, pharmaceuticals, and electronics. With a workforce of around 65,000 employees, Air Liquide continues to play a crucial role in advancing industrial processes and enhancing productivity worldwide.

Vincent BRILLAULT

MD

François Darchis

Director

Pascal Vinet

Director

61 past transactions

HysetCo

Series A in 2024
HysetCo is a hydrogen mobility start-up based in Saint-Denis, France, focused on facilitating the transition to zero-emission transportation. The company specializes in providing hydrogen-powered taxis and offers an integrated mobility solution that encompasses a comprehensive network of hydrogen distribution stations. HysetCo's services include a complete turnkey approach for clients, covering all aspects of vehicle management such as procurement, maintenance, repair, insurance, and training. By promoting the use of hydrogen vehicles, HysetCo aims to enhance urban mobility while contributing to environmental sustainability.

Orcan Energy

Private Equity Round in 2022
Orcan Energy is the leader in waste heat recovery technology. Orcan Energy GmbH was founded in 2008, as a spin-out from the Technical University of Munich (“TUM”). Orcan’s ePack offers a compact, service-reduced and cost- efficient “plug-and-play” waste heat power generator based on ORC-Technology. Spe- cific patented innovations enable Orcan to popularize the technology on the mass mar- ket. At the beginning of 2013, Orcan gained sponsorships from the Exist-Research- Transfer-Aid of the Federal Government of Germany and additional grants from the “Wissensfabrik” and various resources from the TUM.

Flying Whales

Venture Round in 2022
Flying Whales is a French company founded in 2012, based in Suresnes, specializing in the development of large-capacity airships for the transport of heavy and oversized cargo. The company focuses on creating helium-filled, rigid-structure airships that can efficiently load and unload substantial freight from a stationary position. Utilizing small amounts of diesel and electric engines, Flying Whales aims to provide innovative solutions for transportation, logistics, and freight sectors facing infrastructure challenges. By enhancing freight transportation capabilities, the company helps clients reduce operating costs while minimizing environmental impact, effectively connecting land-locked regions to the global economy.

H2 MOBILITY

Venture Round in 2022
H2 MOBILITY is a hydrogen filling station operator that offers consulting, planning, and construction services for hydrogen stations.

Medidis

Acquisition in 2019
Medidis is a national provider of home healthcare services focused on patients with respiratory failure and sleep apnea. The company supplies medical oxygen to individuals receiving treatment at home, as well as to residents in assisted living facilities and healthcare professionals operating outside of hospital environments. Through its services, Medidis aims to enhance the quality of care for patients in need of respiratory support.

DiaLibre

Acquisition in 2019
DiaLibre is a startup that specializes in diabetes care. DiaLibre connects experts - doctors, nurses, dieticians, psychologists - with patients in order to offer improved daily support.

Megamed AG

Acquisition in 2019
Megamed AG is specializing in ventilation and support for patients who suffer from respiratory failure. Megamed AG is primarily active in home ventilation and is managed by Andreas Gürtler in the second generation.

Eove

Acquisition in 2018
Eove specialises in the design and manufacture of ventilators for home-based patients suffering from chronic respiratory failure. Eove has developed an innovative solution: a connected portable ventilator that takes into account the mobility needs of patients and facilitates the practice of doctors.

Sogo Sangyo Kabushiki Kaisha

Acquisition in 2017
Sogo Sangyo Kabushiki Kaisha is specialized in the medical gases field serving more than 2,000 hospitals and clinics and home treatment for patients suffering from respiratory diseases including: sleep apnea, Chronic Obstructive Pulmonary Disease and chronic respiratory failure.

Cryotainer BV

Acquisition in 2017
Cryotainer provides customised services for ad’hoc industrial operations that require N2 supply in logistically challenging situations.

ENN Clean Energy UK

Acquisition in 2017
ENN Clean Energy’s natural gas stations in Wellington

OXYMASTER

Acquisition in 2017
OXYMASTER is a colombian company, leader in the provision of home oxygen therapy and sleep therapy, with 16 years of experience in the market.

Airgas Dry Ice

Acquisition in 2016
Airgas Dry Ice, produces and distributes liquid carbon dioxide and dry ice in the United States.

Inpria

Venture Round in 2016
Inpria Corporation is a company based in Corvallis, Oregon, that specializes in the design, development, and manufacturing of EUV metal oxide photoresists for the semiconductor industry. Founded in 2007, Inpria is recognized for its innovative approach to extending semiconductor lithography through inorganic photoresists and thin films for nanoscale patterning. The company's patented photo-condensed molecular oxides allow for the direct deposition of atomically smooth and dense metal oxide films from solution, which can be photopatterned for advanced applications. Inpria's photoresists are meticulously designed to meet rigorous industry specifications, addressing key factors such as resolution, sensitivity, and line width roughness, while integrating seamlessly into manufacturing processes. This holistic approach provides customers with a comprehensive solution that includes photoresists, developers, and related materials.

Startup Hearten

Seed Round in 2016
Our simple and effective approach ensures the outcome we deliver will fully meet your specific requirements in a cost effective yet scalable manner, which reduces risk. Aligned to Customer Success, we identify the outcome to achieve and deliver it. With over 30 years of Collaboration experience let us help you with a new deployment or optimizing an existing collaboration platform, we can help you get to where you need to be. We use a five phased approach which involves reviewing and assessing your current operations, identifying improvement opportunities, creating a solution that meets your business' short and long term goals followed by a deployment of the solution in a timely manner, packaged with ongoing support and services customized to your needs and specifications.

Airgas On-Site Safety Services

Acquisition in 2015
Airgas On-Site Safety Services Inc. is a provider of safety equipment and related services, specializing in breathing air systems, fall protection products, and gas monitoring solutions. Founded in 1963 and based in Deer Park, Texas, the company serves a diverse clientele, including Fortune 500 companies and small to medium-sized businesses globally. Its offerings include safety products, equipment rental, training, mobile hydrostatic testing, and industrial health monitoring services. The company has multiple locations across the United States, including offices in California, Colorado, Illinois, Louisiana, Montana, North Dakota, Texas, Washington, and Wyoming. In 2012, it rebranded from its former name, Oilind Safety, Inc., and is currently a subsidiary of Total Safety U.S., Inc.

Connected Health Services

Acquisition in 2015
Connected Health Services develops a platform that allows users to anticipate the risks of relapses of the disease.

Messer Aligaz Sanayi Gazlari

Acquisition in 2015
Messer Aligaz Sanayi Gazlari A.S produces industrial, medical, and specialty gases.

Ergosup

Series A in 2015
Ergosup developes an innovative process for producing high pressure hydrogen on site for refueling hydrogen fuel vehicles.

Baywater Healthcare Ireland

Acquisition in 2015
Baywater Healthcare Ireland Limited provides homecare services to patients with long term conditions.

AVENISENSE

Corporate Round in 2015
AVENISENSE passionately creates and produces cutting edge, robust, fluidic properties sensing technologies. These sensors make our customer’s operations more reliable and profitable, while at the same time reducing their environmental impact. AVENISENSE delivers plug and play sensing modules for the continuous monitoring of liquid and gases. The sensors are designed to be seamlessly embedded in all kinds of higher-level assemblies. The AVENISENSE growth strategy is to be engaged in long-term, worldwide relationships with key customers, OEM integrators, distributors and research institutes.

Optimal Medical Therapies

Acquisition in 2015
Optimal Medical Therapies provides home healthcare services for patients in Germany suffering from chronic illnesses requiring infusion therapy. Optimal Medical Therapies provides neuromodulation products, such as implantable infusion pumps. Optimal Medical Therapies operates as a subsidiary of Air Liquide.

FordonsGas

Acquisition in 2014
FordonsGas is a company that distributes CBG (Compressed Biogas) for the transportation market. FordonsGas offers most comprehensive gas network, with over 40 energy stations for compressed gas, three stations for liquefied gas, and many bus depots for public transport. FordonsGas operates as a subsidiary of Air Liquide.

Quanta

Series B in 2014
Quanta is a medical devices company that develops advanced haemodialysis systems for use in the home and clinic. Quanta is focused on the commercialisation and ongoing development of SC+, an innovative cartridge-based haemodialysis system. SC+ is a high performance, compact haemodialysis system providing clinical efficacy by utilising typical flow rates of traditional in-centre machines. SC+ supports the entire ‘Continuum of Care’ for dialysis patients, from nurse-assisted treatment through self-care in centre to home haemodialysis. Their system facilitates the seamless transition between treatment modalities providing the best tool to enable flexibility for patients, and treatment options for physicians.

Terrajoule

Series A in 2013
Terrajoule is a renewable energy company based in Palo Alto, California, founded in 2009. The company specializes in providing modular two-megawatt solar power stations equipped with energy storage capabilities, allowing for the dispatch of clean energy around the clock. Terrajoule's innovative approach enables businesses to utilize renewable energy continuously throughout the day, supporting their operational needs while contributing to sustainability efforts.

Ventamed

Acquisition in 2013
Ventamed specializes in home ventilation services. Ventamed operates as a subsidiary Air Liquide.

Voltaix

Acquisition in 2013
Voltaix specializes in the production of semiconductor materials and advanced photovoltaic cell components. The company is known for its high purity gases and chemicals that enhance the performance of electronic, photonic, and solar devices. Voltaix distributes its products through major international gas distributors and has established a reputation for excellence in synthesis and production within the semiconductor and solar industries. Originally part of the ChemOvonic Division of Energy Conversion Devices, Inc., Voltaix became an independent entity in 1986 and later expanded its operations by acquiring Florida Scientific Laboratories, Inc. in 1998. The company currently operates facilities in Branchburg, New Jersey, and High Springs, Florida.

Lentechgas

Acquisition in 2012
Lentechgas provides bulk and packaged industrial gases for healthcare and other industries. Lentechgas operates as a subsidiary of Air Liquide.

Gasmedi

Acquisition in 2012
Gasmedi born in 1996 with the goal of becoming a leading operator in the Spanish market for home respiratory therapy and medical gas supply, assuming a breath of fresh air in a market historically dominated by a few multinational companies. For conduct of its business, Gasmedi has two main divisions: the Division of Respiratory Therapy at Home - home treatment for patient respiratory pathologies character and Hospital Division - dedicated to supplying medical gases to hopitales - providing its services in the field of Public Health, the result of public tenders in which it has been awarded, as in the Private Health through contracts with private healthcare companies and medical insurance. Thanks to a high quality of care and a good proposals in their economic competitiveness in the years he has managed to gain the trust of a growing number of health institutions. outcome of this confidence, growth of our society has been extraordinary. In ten years, assigned to the care of 60,000 patients , has created more than 250 jobs - all character indefinitely, and has opened 24 offices in Spain being present in fourteen of the seventeen autonomous communities, communities that cater to 93 % of the national population.

Logika

Acquisition in 2012
Logika produces bulk and packaged gases for industrial and medical markets. Logika engages in the production and distribution of air separation products for applications in medicine, metallurgy, power and electronics. Logika operates as a subsidiary of Air Liquide.

Licher Medical Therapy

Acquisition in 2011
Licher Medical Therapy engages in medico-technical management of Parkinson’s disease and immunodeficient patients treated with infusion therapy at home. Licher Medical Therapy operates as a subsidiary of Licher Medical Therapy.

ADEP Assistance

Acquisition in 2011
ADEP Assistance is a specialized provider of home respiratory healthcare services, operating as a subsidiary of Air Liquide. The company focuses on various aspects of respiratory care, including oxygen therapy, ventilation support, sleep apnea treatment, and aerosol therapy. ADEP Assistance also offers services related to tracheotomy care and nasal-pharyngeal aspiration, ensuring comprehensive support for patients with respiratory needs. Through its dedicated services, ADEP Assistance aims to enhance the quality of life for individuals requiring respiratory interventions in a home setting.

Cryogas de Centroamerica

Acquisition in 2010
Cryogas de Centroamerica is a supplier of medical and industrial gases. Cryogas de Centroamerica operates as a subsidiary of Air Liquide.

H-Plus SGS

Acquisition in 2010
H-Plus SGS is a supplier of piped carbon monoxide and hydrogen. H-Plus SGS operates as a subsidiary of Air Liquide.

AMCO-GAZ

Acquisition in 2010
AMCO-GAZ is a distributor of compressed and liquefied gases. AMCO-GAZ offers technical gases, including acetylene, oxygen, carbon dioxide, argon, compressed air, nitrogen, and helium. AMCO-GAZ operates as a subsidiary of Air Liquide.

Medions Homecare

Acquisition in 2010
Medions Homecare operates as a company engages in home ventilation. Medions Homecare offers home oxygen therapy and sleep apnea related services.

H2Gen Innovations

Acquisition in 2009
H2Gen Innovations, Inc., of Alexandria , Virginia develops, manufactures and markets on-site hydrogen appliances that provide a significant breakthrough for the existing industrial hydrogen market and will be a key enabling technology for the emerging hydrogen economy. The H2Gen hydrogen generator module (HGM) converts natural gas to hydrogen using a unique steam methane reformer, producing 2,000 scf/hr. of up to “five nines” pure hydrogen. The all-in cost of hydrogen produced with the HGM at the point of delivery is 35% to 65% less than existing conventional methods of producing and delivering hydrogen to target end-use customers. They believe that they have the superior technology for on-site hydrogen production in regard to output, purity and price for a remarkably small appliance. The company was formed in February 2001 by a team of engineers who saw the market opportunity, and who had been working on the concept and technology for the preceding seven years.

Al Khafrah Industrial Gases

Acquisition in 2009
Al Khafrah Industrial Gases manufactures industrial gases. Al Khafrah Industrial Gases operates as a subsidiary of Air Liquide.

Air Separation

Acquisition in 2009
Air Separation is a company specializing in respiratory care services. Air Separation operates as a subsidiary of Air Liquide.

VitalAire S.A

Acquisition in 2009
VitalAire S.A is a nationwide provider of respiratory care services and products for patients.

Pure Helium

Acquisition in 2008
Pure Helium is an international supplier of liquid and gaseous helium. Pure Helium supplies liquid and gaseous helium, helium-based mixtures and argon.

Air Liquide America Specialty Gases

Acquisition in 2007
Air Liquide America Specialty Gases LLC produces and supplies specialty pure gases and gas mixtures to monitor air quality.

Allied Respiratory

Acquisition in 2007
Allied Respiratory provides unified oxygen services including concentrators directly to customers in the South East of England and Northern Ireland as well as cylinder gases in Scotland.

Linde

Acquisition in 2007
Linde is a leading global company specializing in the production and supply of industrial gases, equipment, and chemicals, serving diverse industries such as healthcare, food and beverages, chemicals, manufacturing, and steelmaking. Operating in over 100 countries, Linde employs around 63,500 people and is recognized as the largest industrial gas supplier worldwide. The company's primary products include atmospheric gases like oxygen, nitrogen, and argon, as well as process gases such as hydrogen, carbon dioxide, and helium. Additionally, Linde offers equipment for industrial gas production, contributing to its comprehensive service offering. In 2023, Linde reported approximately $33 billion in revenue, reflecting its significant presence and influence in the industrial gases market.

Lurgi, Inc.

Acquisition in 2007
Lurgi, Inc., a technology company, engages in the field of process engineering and plant contracting.

Messer Griesheim Industries Canada

Acquisition in 2002
Messer Griesheim Industries Canada Inc. distributes industrial cylinder, bulk, and specialty gases.

Messer Griesheim - Trinidad and Tobago

Acquisition in 2002
Messer Griesheim - Trinidad and Tobago distributes industrial cylinder, bulk, and specialty gases.

Capsule Technologies

Series A in 2002
Capsule Tech, based in Andover, MA, is a subsidiary of Capsule Technologie and has established itself as a leader in medical device connectivity solutions over the past 12 years. The company specializes in developing a platform that integrates medical devices, enabling hospitals and healthcare organizations to capture and analyze streaming data from various devices. This platform enhances clinical documentation, alarm management, and patient surveillance, ultimately improving communication and collaboration among healthcare providers. Capsule Tech's innovative software and medical-grade hardware, along with its deep expertise in device protocols and firmware, support its mission to ensure patient safety and satisfaction. The company has also formed strong partnerships with major medical device manufacturers and healthcare information system providers, further solidifying its position in the market.

Fedgas Pty

Acquisition in 2002
Fedgas Pty is a privately held company that engages in the production and distribution of industrial and specialty gases.

IT Masters International SA

Series B in 2001
IT Masters supplies software management tools which assess the impact that technology has on business services. The company's principal offering, MasterCell, is an adaptive management tool that is used to model the effect that IT service level degradation will have on business processes. In effect the technology allows the effect of varying IT service delivery to be assessed, in real time, for its impact on real world business.

Poseidon Technologies

Series A in 2001
Poseidon is state-of-the-art computer vision and aquatic image processing technology. An added layer of protection in aquatic facility environments Complements lifeguards' vigilance Provides independent surveillance (no human monitoring required) Recognizes texture, volume and movement within a pool Alerts lifeguards audibly and visually when a victim is in distress Conceived in the 1990's in Europe In development for six years with 65 engineers and $30,000,000 1st installation in Europe 2000 1st successful installation in North America 2002 Today, over 230 installations worldwide 50 North American installations

Axane

Acquisition in 2001
Axane is a privately held company that develops hydrogen powered fuel cell systems.

The BOC Group

Acquisition in 1999
The BOC Group manufactures and distributes a range of software tools for its clients. The company’s product portfolio consists of Adoscore, Adonis, Adolog, and Adoit. It offers consulting, training, and cloud-based services to its clients. Its consulting services consist of expertise in BPM, quality management, enterprise architecture management, IT service management, performance management, governance, and knowledge transfer. The BOC Group was founded in 1886 and is based in Surrey.

Schülke & Mayr

Acquisition in 1996
Schülke & Mayr GmbH manufactures and supplies disinfectants, antiseptics, preservatives, biocides, medical skin care products, an active substance for deodorants, and system cleaners.
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