Abu Dhabi’s Mubadala, EQT Private Equity to acquire Swedish biopharma transport services provider

The EQT X fund (EQT Private Equity) and Mubadala are to acquire Envirotainer, which provides mission-critical, proprietary temperature-controlled supply chain solutions for the transportation of biopharmaceuticals, from Cinven and Novo Holdings.

The enterprise value amounts to approximately EUR2.8bn.

With a fleet of around 6,700 containers globally and approximately 375 employees in 20 countries, Envirotainer is considered a global leader in active temperature control for air transportation of temperature-sensitive pharmaceuticals. It has more than 600 customers worldwide, including many global blue-chip pharma and biotech companies.

 EQT Private Equity and Mubadala will seek to support Stockholm-based Envirotainer in its next phase of growth by accelerating expansion in APAC (Asia Pacific) and continuing stable growth in its other core markets. They will help scale the newly launched CryoSure offering and continue the successful roll-out of third-generation Releye container.

 Camilla Macapili Languille, head of Life Sciences at Mubadala, said, “Envirotainer plays a mission-critical role in the healthcare ecosystem by ensuring the safe and reliable delivery of drugs from pharma companies to hospitals, clinics, and ultimately, patients. Their extensive international footprint ideally positions Envirotainer to meet the pharma industry’s growing need for global temperature-controlled distribution and as the undisputed market leader, they are continuing to pioneer developments in the sector with forward-thinking R&D innovation. We have strong conviction in the company’s growth trajectory and will work closely with management and our partners at EQT to ensure its long-term success.”

Ali Farahani, Partner within EQT Private Equity’s advisory team, said, “The active temperature control for air transportation of temperature-sensitive pharma products offers attractive exposure to the growing biologics end-market. Envirotainer is the clear global leader with significant scale advantages, superior operations and industry-leading performance. Moreover, the company has a clear purpose of enabling access to life-saving pharmaceuticals and offers reusable solutions with significantly less CO2 emissions compared to traditional solutions. We see significant growth potential remaining and we look forward to partnering with the management team to unlock the full potential together with our partners at Mubadala.”

In other developments news, Mubadala reported 2021 as the strongest financial year in its 20-year history. The company recorded Dhs122bn in total comprehensive income (TCI) attributable to the owner for the year 2021, compared to Dhs72bn in 2020.

Read: Abu Dhabi’s Mubadala reports 2021 as strongest financial year ever