Reefer player changes hands
Two financial investors have taken over Envirotainer. The Swedish EQT and the fund Mubadala Investment from the United Arab Emirates have inked the deal with the previous owners, the British investment company Cinven and the Danish pharmaceutical group Novo Holdings. The enterprise value was fixed at around EUR 2.8 billion, as stated in a press release by the Swedish private equity company.
Envirotainer is a major provider of reefer containers for temperature sensitive pharmaceuticals with a fleet of 6,700 refrigerated containers, working mostly with airlines and freight forwarders. The company said that it delivered 2 million doses of medication every day in 2021.
"EQT Private Equity and Mubadala will help scale the newly launched Cryosure offering and continue the successful rollout of the third generation Releye platform," said EQT. The acquisition is expected to be completed in the third quarter of 2022. (cd)