Cool chain logistics company Envirotainer’s majority shareholder AAC Capital has signed an agreement to sell all its shares to private equity firm Cinven.
Details of how much was paid for the shares were not revealed but Private Equity News specualtes the deal values the Stockholm-based cool chain cargo container firm at more than €1 billion.
The transaction for the pharmaceutical supply chain company will be closed when all relevant financial regulatory filings have been approved, which is set to be completed by late summer or early autumn.
Envirotainer chief executive officer, Michael Borg said: “Cinven is one of Europe’s leading private equity firms, with substantial activities in healthcare and a strong Nordic track-record. They have an important global contact network, a solid understanding of Envirotainer and our industry, and will be a strong financial backer for our strategy of continued growth.”
Cinven said it invested in the business to capture opportunities from “the rise in biopharma sales for a broad range of clinical treatments”.
Cinven partner, Pontus Petersson says: “Envirotainer is the clear leader in a market segment we believe is very interesting, and the company consistently delivers strong growth and high performance. We are very happy to be part of Envirotainer’s continued future development.”
Envirotainer manufactures and leases cold containers used to ship pharma products and owns more than 5,500 containers and has facilities in Stockholm, Frankfurt, Dallas and Singapore