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Parties are expected to be fully integrated by the second half of 2024.
It’s official: the combination of Envirotainer, a provider of secure cold-chain solutions for the air transportation of pharmaceuticals, and va-Q-tec, who specializes in thermal insulations while also providing temperature-controlled packaging solutions, has been approved. The parties anticipate that the merging of their shared pharma offerings is expected to result in a more comprehensive, temperature-controlled offering.
This dates back to June 2022, when EQT Private Equity—Envirotainer’s majority owner—and Mubadala Investment Company announced an agreement to purchase Envirotainer for approximately $3 billion. Then, in December of that year, va-Q-tec revealed that it had reached a strategic partnership with EQT; part of that deal included it combine with the Swedish company on the basis of mutual interests in the pharma sector.
The move is expected to be completely in place by the second half of next year.
“Today starts a new era for our businesses and clients. Together, we will enable even greater global access to life-saving temperature-sensitive pharmaceuticals,” says Peter Gisel-Ekdahl, Envirotainer’s CEO. “The combination marks the start of a new accelerated period of growth for Envirotainer, fueled by a comprehensive portfolio of temperature-controlled solutions tailored for customers across the whole spectra of the pharmaceutical industry.”