Massachusetts-based Cold Chain Technologies has acquired fellow packaging specialist Tower Cold Chain in the UK for an undisclosed sum.
CCT provides advanced thermal packaging and digital monitoring solutions for temperature-sensitive life sciences products.
Founded in 1999, Tower designs, manufactures, and operates a fleet of passive reusable temperature-controlled containers used to transport high-value life sciences products from its headquarters at Theale west of London and its network of more than 20 service hubs on five continents.
CCT chief executive, Ranjeet Banerjee said: “Tower has developed an impressive portfolio of highly technical, robust reusable products capable of exceeding the stringent requirements of global pharmaceutical clients. 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.”
Tower chief executive, Niall Balfour responded: “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. 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.”
Tower is CCT’s fourth acquisition since partnering with Aurora Capital Partners in 2019 during this time it has 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.