Cold Chain Technologies Acquires Tower Cold Chain, Expanding its Product Portfolio and Global Service Network
FRANKLIN, Mass. and THEALE, UK, Oct. 23, 2024 /PRNewswire/ — Cold Chain Technologies (“CCT”), a leading global provider of advanced thermal packaging and digital monitoring solutions for the transportation of temperature-sensitive life sciences products, today announced it has acquired Tower Cold Chain (“Tower”), 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.
About Cold Chain Technologies
Cold Chain Technologies (“CCT”) is a leading global provider of thermal packaging and digital solutions for the shipment of temperature-sensitive material for the life sciences industry. With more than 50 years of proven product assurance in transit, CCT has built a reputation as the life sciences industry’s most innovative and dependable provider. For more information about CCT, visit: https://www.coldchaintech.com/
About Tower Cold Chain
Tower Cold Chain (“Tower”) manufactures advanced passive reusable thermal packaging solutions primarily for pharmaceutical and biopharmaceutical applications. Founded in 1999, Tower is headquartered in Theale, UK and maintains more than 20 global service hubs across five continents. For more information about Tower Cold Chain, visit: https://www.towercoldchain.com/
About Aurora Capital Partners
Aurora Capital Partners is a leading Los Angeles-based private equity firm with $6 billion in assets under management. Founded in 1991, the firm invests in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. For more information about Aurora Capital Partners, visit: https://www.auroracap.com/
Media Contacts
Cold Chain Technologies
Amardeep S Chahal
SVP – Marketing and Corporate Development
achahal@coldchaintech.com
Aurora Capital Partners
Taylor Ingraham
ASC Advisors
tingraham@ascadvisors.com
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SOURCE Cold Chain Technologies
