EQT Private Equity and Mubadala to acquire Envirotainer, the world’s leading provider of critical biopharmaceutical transportation services
- As part of their broader strategic partnership, EQT Private Equity and Mubadala Investment Company will invest majority in Envirotainer, a global provider of critical cold chain transportation solutions for pharmaceuticals
- Envirotainer enables access to life-saving pharmaceuticals and vaccines through reliable and efficient cold chain solutions, and is the global leader in active temperature monitoring for the air transport of temperature-sensitive pharmaceuticals
- EQT Private Equity and Mubadala will support Envirotainer in its next phase of growth, accelerating expansion in key markets and APAC in particular, scaling the newly launched CryoSure offering, investing in new technologies and continuing to deploy the third generation Releye platform
EQT is pleased to announce that EQT Fund X (“EQT Private Equity”) and Mubadala Investment Company (“Mubadala”) have agreed to acquire Envirotainer (the “Company”), the world leader in critical and exclusive temperature. -controlled supply chain solutions for transporting biopharmaceuticals, from Cinven and Novo Holdings. The enterprise value amounts to approximately 2.8 billion euros.
Envirotainer was founded in 1985 in Stockholm, Sweden, where its headquarters, R&D and production are based. Envirotainer designs, manufactures and rents temperature-controlled active containers, used primarily for the airfreight of biopharmaceutical products. With a fleet of approximately 6,700 containers worldwide and around 375 employees in 20 countries, the company is the world leader in active temperature monitoring for the air transport of temperature-sensitive pharmaceutical products. Envirotainer has over 600 customers worldwide, including many of the world’s leading pharmaceutical and biotechnology companies.
Millions of people around the world depend on the safe delivery of biopharmaceutical products that require temperature control to maintain their integrity and quality. Today, lack of access to medicines is a cause of distress that disproportionately affects underserved communities, whose situation is likely to be exacerbated by chronic diseases resulting from changing diets and lifestyles. of life, as well as air and water pollution. Envirotainer expands access to lifesaving pharmaceuticals and vaccines through its patient-safe, reliable and efficient cold chain solutions, which also offer one of the lowest carbon footprint solutions in the industry.
EQT Private Equity and Mubadala will seek to support Envirotainer in its next phase of growth by accelerating expansion in Asia-Pacific and continuing growth in its other core markets, and will leverage the local approach with EQT’s premises and of Mubadala’s global network to do so. Leveraging the industry expertise of EQT and Mubadala’s network, EQT Private Equity and Mubadala will help scale the newly launched CryoSure offering and continue the successful deployment of the third-generation Releye platform, while investing in new technological innovations, digitization and sustainability. in its operations.
Ali Farahani, Partner in the EQT Private Equity advisory team, said: “Temperature-controlled distribution of pharmaceuticals offers very attractive thematic exposure to the growing biopharmaceutical end market. Envirotainer is an integral part of the global pharmaceutical infrastructure and is the undisputed global market leader with significant advantages of scale, superior operations, and industry-leading performance and customer satisfaction. The company has a clear goal to enable access to life-saving pharmaceuticals and offers reusable solutions with significantly less CO2 emissions compared to traditional air freight solutions. We continue to see significant growth potential and are excited to partner with the management team to unlock the full potential with our Mubadala partners.
Camilla Macapili Languille, Head of Life Sciences for Mubadala, said: “Envirotainer plays a vital role in the healthcare ecosystem by ensuring the safe and reliable delivery of drugs from pharmaceutical companies to hospitals, clinics and ultimately patients. Their vast international footprint ideally positions Envirotainer to meet the pharmaceutical industry’s growing need for temperature-controlled global dispensing and, as the undisputed market leader, they continue to pioneer development in the sector through a cutting-edge R&D innovation. We are confident in the company’s growth trajectory and will work closely with management and our partners at EQT to ensure its long-term success.
Peter Gisel-Ekdahl, CEO, “We are delighted with the confidence EQT and Mubadala have shown in us by investing in the business and look forward to working closely together to further develop the business. This long-term partnership will strengthen Envirotainer and help us achieve our goal of enabling access to lifesaving pharmaceuticals. At the same time, this investment, from such esteemed investors, confirms the strength of Envirotainer’s business model and the company’s very promising future.
EQT and Mubadala were advised by Jefferies International (M&A), McKinsey & Company (commercial), White & Case (legal) and KPMG (financial, tax, operational).
The transaction is subject to customary conditions and approvals and is expected to close in the third quarter of 2022. With the acquisition of Envirotainer, EQT X (target fund size of €20.0 billion and hard cap of €21.5 billion euros) will be invested from 0 to 5% based on its target fund size. EQT X will be activated and begin charging management fees upon the closing of its first transaction, which is currently expected to be the closing of the Envirotainer acquisition. EQT IX is currently 80-85% invested, following recent add-on acquisitions of portfolio companies, and continues to be in its commitment period, but management fees will, after activation of EQT X, be based on the net invested capital.
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About the EQT
EQT is a global, goal-oriented investment organization with €77 billion in assets under management across 36 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately €29 billion and over 280,000 employees. EQT works with its portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More information: www.eqtgroup.com
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About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aiming to generate sustainable financial returns for the Government of Abu Dhabi.
Mubadala’s $284 billion portfolio spans six continents with interests in multiple sectors and asset classes. It leverages its deep industry expertise and longstanding partnerships to generate sustainable growth and profits, while supporting the continued diversification and global integration of the UAE economy.
More information: www.mubadala.com
Envirotainer is the undisputed global market leader in secure cold chain solutions for the intercontinental transport of pharmaceutical products. The company develops, manufactures and offers innovative equipment for rental
container and dewar solutions for cryogenic shipping, including validation, support and service, for pharmaceutical products that require a controlled environment. With a truly global presence with the largest active container fleet in the world, the most extensive network and over 35 years of industry expertise, Envirotainer is able to meet customer needs for innovative and reliable solutions. – available from any location to any destination. . The company operates through an open global network of airlines, freight forwarders and couriers and is headquartered outside of Stockholm, Sweden.
For more information, please visitwww.envirotainer.com