Novo Holdings Acquires a 25% Equity Stake in Envirotainer
WASHINGTON, Sept. 19, 2018 /PRNewswire/ --Envirotainer, the global market leader in temperature controlled airfreight solutions for the pharmaceutical supply chain, today announced that Novo Holdings A/S, has agreed to acquire 24.9% of the equity in Envirotainer in partnership with the private equity firm Cinven.
Headquartered in Stockholm, Envirotainer designs, manufactures and leases active temperature controlled containers used primarily for air freighting biopharma products, transporting up to two million doses of medicine per day. The Group serves c. 600 customers worldwide, including many of the blue-chip global biopharma companies operating from regional centers in Stockholm, Frankfurt, Dallas and Singapore, with a portfolio of more than 5,800 leased containers globally.
Michael Berg, CEO of Envirotainer, commented:
"We are pleased to welcome Novo Holdings as a partner alongside Cinven in Envirotainer, where we see great value from Novo Holdings healthcare expertise and pharmaceutical market knowledge to further develop the customer service offering of Envirotainer."
Novo Holdings has identified Envirotainer as an attractive investment opportunity due to, inter alia:
- Market leadership: Envirotainer is a leading player with an innovative product offering, consistent service delivery, and global delivery capability;
- Attractive market: the rise in biopharma sales for a broad range of clinical treatments, in combination with tightening regulatory requirements for transporting these products is driving strong growth in Envirotainer's markets;
- Global growth opportunity: Cinven and Novo Holdings will support Envirotainer's global growth by developing its technology and expanding its container fleet and global service network.
Samir Kamal, Senior Director at Novo Holdings said:
"Envirotainer is a very attractive investment opportunity for Novo Holdings. The company is a leading player and is in an excellent position to further benefit from the increasingly important demand for temperature controlled biopharma logistics. We are excited about this investment and look forward to, together with the management team and Cinven, be part of further developing Envirotainer."
Contact:
Mattias Isaksson
Head of Marketing & Communications
Envirotainer AB
[email protected]
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SOURCE Envirotainer AB
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