Cold Chain Technologies Acquires Packaging Technology Group, Expanding its Leadership in Sustainable Thermal Packaging
|Update : 22nd March, 2022|
FRANKLIN, Mass., March 21, 2022 — Cold Chain Technologies, LLC (“CCT” or “Company”), a portfolio company of Aurora Capital Partners and leading global provider of thermal packaging solutions for the transportation of temperature-sensitive products for the life sciences industry, today announced that it has acquired Packaging Technology Group, LLC (“PTG”), a leading provider of sustainable, curbside-recyclable thermal packaging solutions for the life sciences industry. Terms of the transaction were not disclosed.
The acquisition of PTG furthers CCT’s commitment to environmentally friendly and sustainable packaging solutions. PTG’s TRUEtemp Naturals® Line, first launched in 2018, utilizes proprietary design and manufacturing technologies to provide pharmaceutical-grade, time-temperature performance in an eco-friendly, 100% curbside recyclable solution. By using PTG’s products, customers reduce landfill waste by millions of pounds annually and shrink the life sciences industry’s overall carbon footprint.
“PTG is a pioneer in developing sustainable thermal packaging solutions that meet the strict requirements of its global blue-chip pharmaceutical clients,” said Ranjeet Banerjee, CEO of CCT. “We are thrilled to partner with Bill Blezard and the rest of the PTG team to continue investing in innovative solutions. Together, we will be a global leader in reusable and single-use sustainable parcel shippers with unmatched thermal engineering capabilities, technical expertise, geographic breadth, and digital track-and-trace solutions. We look forward to delivering enhanced value to PTG and CCT customers, and using our combined know-how to achieve a greener, more sustainable future.”
“This exciting partnership will allow our combined Company to invest further in critical sustainable technologies and deliver a broader suite of innovative solutions to our customers around the globe,” said Bill Blezard, Founder and CEO of PTG. “We have long admired CCT as a leader in the thermal packaging industry and believe it is the ideal partner for PTG to help accelerate our growth. We look forward to working with Ranjeet and his team to better serve our customers, our employees, and our community.”
This is CCT’s second add-on acquisition since partnering with Aurora in 2019. During this time CCT has also dramatically increased its reusable parcel and pallet fleets, launched its new digital tracking platform, and expanded its geographic footprint. The Company has also supported the worldwide distribution of COVID-19 vaccinations, with almost half a billion doses delivered in CCT’s packaging to date.
About Cold Chain Technologies
Cold Chain Technologies is a leading global provider of reusable and single-use thermal packaging solutions for the shipment of temperature-sensitive material, principally serving the life sciences supply chain. With more than 50 years of proven product assurance in transit, CCT has built a reputation as the Life Science industry’s most innovative and reliable provider. For more information about CCT, visit: https://www.coldchaintech.com/
About Packaging Technology Group
Packaging Technology Group (PTG) designs, engineers, and manufactures sustainable, thermal shipping, and packaging solutions for the biopharmaceutical and life sciences sector. Established in 2005 as a faith-based organization, PTG is Headquartered in Fall River, Massachusetts, and maintains a strong environmental commitment. For more information about PTG, visit: https://www.packagingtech.com/
About Aurora Capital Partners
Aurora is a leading private equity firm focused principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora’s investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora, visit: https://www.auroracap.com/
Source : Cold Chain Technologies