Air Liquide sells Sudac Air Service to Veolia

Business Services / Industrials
Deal type
Sell your business / Carve out
February 2021
Countries involved


Air Liquide is a world leader in gases, technologies and services for Industry and Health


Capitalmind has advised Air Liquide on the disposal of Sudac Air Service to Veolia


Lead team

  • Michel Degryck

    Michel Degryck

    Managing Partner France
  • Nicolas Balon

    Nicolas Balon

    Partner France
  • Valentin Desdoits

    Valentin Desdoits

    Vice President France

About the deal

Sudac Air Service, a subsidiary of Air Liquide, specializes in compressed air solutions for French mid-market industrial groups operating in various sectors including aerospace, food & agro, specialty chemicals, healthcare, and metal industry. Sudac Air Service offers a complete range of compressed air services from engineering, procurement, commissioning & maintenance as well as on-site compressed air supply.

Headquartered in Paris, Air Liquide is a world leader in gases, technologies and services for Industry and Health. Listed on the Euronext Paris stock exchange, Air Liquide is present in 80 countries with approximately 67,000 employees, serves more than 3.7 million customers and patients and reports revenues of over €20bn.

The acquisition of Sudac Air Service will enrich Veolia’s technical services offering – operated under the Veolia Industries Global Solutions division in France. Veolia Industries Global Solutions generates annual revenues of c. €500m and employs 3,000+ employees in France.

What we did

Capitalmind has assisted Air Liquide corporate M&A team and Sudac management team in managing the disposal process, from advising transaction strategy, defining deal tactics, qualifying most relevant buyers for the business, and organizing a competitive bid up to closing.