UAE Business: Mubadala, EQT buy Swedish pharma transport group for $2.9bn – Gulf Digital News

UAE Business: Mubadala, EQT buy Swedish pharma transport group for $2.9bn – Gulf Digital News

Abu Dhabi-based Mubadala Investment Company has joined hands with Swedish private equity EQT to acquire Envirotainer, the leading global provider of mission-critical, proprietary temperature-controlled supply chain solutions for the transportation of biopharmaceuticals.

The duo today (June 7) signed an agreement with international private equity firm Cinven and co-investor Novo Holdings thus closing the acquistion deal for an enterprise value of €2.8 billion ($2.9 billion).

EQT Private Equity and Mubadala will seek to support Envirotainer in its next growth phase by accelerating expansion in APAC and continuing stable growth in its other core markets.

They will leverage EQT’s local-with-locals approach and Mubadala’s global network to do so. Both investors will help scale the newly-launched CryoSure offering and continue the successful roll-out of third-generation Releye containers while investing in new technology innovations, digitalisation, and sustainability in its operations.

Millions of people across the globe depend on the safe delivery of biopharmaceuticals that require temperature control to maintain their integrity and quality, said the statement from Mubadala.

Today, lack of access to medicines is a cause of the distress that impacts underserved communities, whose situation is likely to be exacerbated by chronic diseases resulting from changing diets and lifestyles, and air and water pollution.

Envirotainer expands access to vital