Kuehne + Nagel buys Houston oil & gas transport firm Elite
Swiss logistics giant Kuehne + Nagel has acquired Houston-based specialized oil and gas equipment transport company Elite Airfreight Inc. Both parties agreed not to disclose the purchase price.
Elite was established 22 years ago and employs 84 people. The company’s core focus is on the transportation of hazardous materials specifically for use within the drilling industry.
Kuehne + Nagel established its own division in Houston in 1977 to provide logistics services to the oil and gas industry.
'The acquisition of Elite multiplies our specialist team knowledge and experience significantly and strengthens our position in the industry. It fits well with our strategy to expand our services and presence in the global oil and gas industry. Now that our two companies are combined we can offer unmatched expertise to our customers,” said Rolf Altorfer, president and chief executive officer of Kuehne + Nagel, North America.
Larry Earley, vice president of Elite, said of the deal: 'This move opens the doors to a truly global network for our client base.”