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 €2.8 billion. With a fleet of around 6,700 containers globally and approximately 375 employees in 20 countries, Envirotainer is considered a 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.
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 of the distress that impacts underserved communities, whose situation is likely to be exacerbated by chronic diseases resulting from changing diets and lifestyles, and 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 Stockholm-based Envirotainer in its next phase of growth by accelerating expansion in APAC (Asia Pacific) and continuing stable growth in its other core markets. They 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 in new technology innovations, digitalization, and sustainability in its operations.
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.”
Ali Farahani, Partner within EQT Private Equity’s Advisory Team, said, “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.”
Envirotainer was founded in 1985 in Stockholm, Sweden, where its headquarters, R&D, and production facilities are based. It has more than 600 customers worldwide, including many global blue-chip pharma and biotech companies. Envirotainer designs manufacture and lease 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. In other developments news, Mubadala reported 2021 as the strongest financial year in its 20-year history. The company recorded Dhs122bn in total comprehensive income (TCI) attributable to the owner for the year 2021, compared to Dhs72bn in 2020.
