Private equity firm Naxicap buys GSSA European Cargo Services

The investment firm Naxicap Partners acquired European Cargo Services (ECS) – a general sales and services agent (GSSA)  representing carriers in 47 countries – in a mid-June deal facilitated by Paris-based financial investment house, Ardian.

In recent years, ECS has demonstrated its focus on expanding its international presence, acquiring Hong Kong-based services company AVS in 2016 and, last year, purchasing Canadian services company Exp-Air to strengthen ECS’s global footprint.

“We are convinced that the group has what it takes to establish itself as the major consolidation platform in the market and to be a driving force for innovation in the cargo industry,” said Angèle Faugier, partner at Naxicap Partners. She went on to emphasize ECS’ international network as the main factor that lead to the acquisition.