The EQT X fund (EQT Private Equity), and Mubadala Investment Company (Mubadala), have agreed to acquire Envirotainer (the Company), the leading global provider of mission-critical, proprietary temperature-controlled supply chain solutions for the transportation of biopharmaceuticals, from Cinven and Novo Holdings. The enterprise value amounts to approximately EUR 2.8 billion.
Millions of people across the globe depend on the safe delivery of biopharmaceuticals that require temperature control to maintain their integrity and quality. Today, lack of access to medicines is a cause for distress that disproportionately impacts underserved communities, whose situation is likely to be exacerbated by chronic diseases resulting from changing diets and lifestyles, as well as from air and water pollution. Envirotainer expands access to vital pharmaceuticals and vaccines through its patient-safe, reliable and efficient cold chain solutions, which are the most climate-neutral offering in the industry.
EQT Private Equity and Mubadala will seek to support Envirotainer in its next phase of growth by accelerating expansion in APAC and continuing stable growth in its other core markets, and will leverage EQT’s local-with-locals approach and Mubadala’s global network to do so. Both investors will help scale the newly launched CryoSure offering and continue the successful roll-out of third-generation Releye containers, while investing behind new technology innovations, digitalization, and sustainability in its operations.
Camilla Macapili Languille, Head of Life Sciences at Mubadala, said, “Envirotainer plays a mission-critical role in the healthcare ecosystem by ensuring the safe and reliable delivery of drugs from pharma companies to hospitals, clinics, and ultimately, patients. Their extensive international footprint ideally positions Envirotainer to meet the pharma industry’s growing need for global temperature-controlled distribution and as the undisputed market leader, they are continuing to pioneer developments in the sector with forward-thinking R&D innovation. We have strong conviction in the company’s growth trajectory and will work closely with management and our partners at EQT to ensure its long-term success.”
Ali Farahani, Partner within EQT Private Equity’s Advisory Team, said, “The active temperature control for air transportation of temperature-sensitive pharma products offers attractive exposure to the growing biologics end-market. Envirotainer is the clear global leader with significant scale advantages, superior operations and industry-leading performance. Moreover, the company has a clear purpose of enabling access to life-saving pharmaceuticals and offers reusable solutions with significantly less CO2 emissions compared to traditional solutions. We see significant growth potential remaining and we look forward to partnering with the management team to unlock the full potential together with our partners at Mubadala.”
Envirotainer was founded in 1985 in Stockholm, Sweden, where its headquarters, R&D and production facilities are based. Envirotainer designs, manufactures and leases active temperature-controlled containers, used primarily for air freighting biopharma products. With a fleet of circa 6,700 containers globally and approximately 375 employees in 20 countries, the Company is the global leader in active temperature control for air transportation of temperature-sensitive pharmaceuticals. It has more than 600 customers worldwide, including many global blue-chip pharma and biotech companies.