EQT and Mubadala to Acquire Envirotainer in $3 Billion Deal

Swedish EQT Private Equity and Abu Dhabi’s Mubadala Investment Company have agreed to make a majority investment in Envirotainer, the leading medical freight company specializing in cold containers for transporting temperature-sensitive pharmaceutical products.

The pair will be acquiring Envirotainer from Cinven and Novo Holdings, which purchased the business back in 2018 for about $1 billion. Envirotainer played a major role during the peak of the COVID-19 pandemic, the company’s containers had transported more than half (250 million doses) of global vaccines by air cargo as of early 2021.

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Envirotainer’s Mission-Critical Role in Healthcare Ecosystem

The Company developed and marketed the first shipping container with an active temperature control system in 1995, enabling it to meet the industry’s complex need for rapid and safe cold chain shipments of biopharmaceuticals at low and stable temperatures. Today, Envirotainer supports the transportation of approximately 2 million doses of medicines per day, ensuring medicines are safely delivered to destinations around the globe with its fleet of 6700 refrigerated containers.

“This long-term partnership will strengthen Envirotainer and help us deliver on our purpose of enabling access to life-saving pharmaceuticals. At the same time, this investment, from such esteemed investors, confirms the strength of Envirotainer’s business model and the company’s very exciting future,” Peter Gisel-Ekdahl, Envirotainer’s CEO said.

EQT and Mubadala will seek to support Envirotainer’s next phase of growth by accelerating expansion in the Asia Pacific region while leveraging EQT’s local-with-locals approach and Mubadala’s global network to do so. Both firms will help scale the newly launched CryoSure lineup and continue the successful roll-out of the third-generation Releye air cargo platform.

EQT manages assets of around €77 billion globally, and its focus ranges from real estate, technology, and healthcare. Recently, EQT has been restructuring its holdings in the healthcare and logistics sector. In 2021, EQT and Goldman Sachs acquired Parexel for $8.5 billion.

Author

Fujie Tham