Cold Chain Technologies acquires Tower Cold Chain, expanding its product portfolio
Cold Chain Technologies, a leading global provider of?advanced?thermal packaging and?digital monitoring?solutions for the transportation of temperature-sensitive life sciences products, announced?it has acquired Tower Cold Chain, a global provider of advanced passive reusable cold chain solutions. Terms of the transaction were not disclosed.
Founded in 1999, Tower designs, manufactures, and operates a fleet of advanced passive reusable temperature-controlled containers used to transport high-value life sciences products. From its United Kingdom headquarters and network of more than 20 service hubs across five continents, Tower supports its blue-chip pharmaceutical and life sciences customers around the world.
“Tower has developed an impressive portfolio of highly technical, robust reusable products capable of exceeding the stringent requirements of global pharmaceutical clients,” said Ranjeet Banerjee, CEO of CCT. “We are thrilled to?partner with?Niall and the entire Tower team?to offer exciting new products and geographic service capabilities to our current and prospective customers. This combination?further?establishes CCT as?the?leader in?temperature-controlled packaging solutions?with unmatched thermal engineering expertise,?digital monitoring and tracking,?global manufacturing,?and commitment to sustainability.”?
“We are excited to leverage CCT’s robust product portfolio, manufacturing capabilities, proprietary track-and-trace software, and leading R&D expertise to accelerate our worldwide growth,” said Niall Balfour, CEO of Tower. “We have long admired CCT as a leader in our industry and believe it is the ideal partner to support Tower’s next chapter of growth. We look forward to working with Ranjeet and his team to better serve our customers, our employees, and the entire life sciences community.”
This is CCT’s fourth?acquisition since partnering with Aurora Capital Partners in 2019. During this time, CCT has dramatically expanded its portfolio of sustainable packaging solutions, entered key new life sciences verticals, launched its digital platform, and grown its global manufacturing and service capabilities.