The EQT X fund (EQT Private Equity) and Mubadala will acquire Envirotainer from Cinven and Novo Holdings for $2.98 billion.
Envirotainer is the global provider of mission-critical, proprietary temperature-controlled supply chain solutions for the transportation of biopharmaceuticals.
EQT Private Equity and Mubadala said they will seek to support Envirotainer in its next growth phase by accelerating expansion in APAC 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.
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.”
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. Envirotainer designs, manufactures and leases active temperature-controlled containers used primarily for air freighting biopharma products. The company has a fleet of circa 6,700 containers globally and approximately 375 employees in 20 countries. It has more than 600 customers worldwide, including many global blue-chip pharma and biotech companies.