Tower Cold Chain has been acquired by Cold Chain Technologies

Arrowpoint Advisory’s combined Industrials and Healthcare sector teams have advised the shareholders of Tower Cold Chain (“Tower”) on its sale to Cold Chain Technologies (“CCT”), backed by Aurora Capital Partners (“Aurora”). CCT is a US-based, global provider of temperature-controlled supply chain (“cold chain”) solutions to the pharmaceutical and life sciences industries.

Founded in 1999, Tower designs, manufactures, and operates a fleet of advanced passive reusable temperature-controlled containers used for the global transportation of 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.

CCT is a leading global provider of advanced 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. The business combination allows both Tower and CCT to expand the offerings, distribution, and manufacturing capabilities.

Ranjeet Banerjee, CEO of CCT said: “Tower has developed an impressive portfolio of highly technical, robust reusable products capable of exceeding the stringent requirements of global pharmaceutical clients. 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.”

Niall Balfour, CEO of Tower commented: “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.”

Niall went on to add: “The Arrowpoint Advisory team, led by Graham Carberry expertly steered Tower’s shareholders and executive team from advisor to assessing the market, critically matching our needs expertly to potential partners ultimately leading to an outcome we are delighted with. Through the team’s stewardship, notably Freddie Hobart and Alex Wheatley, we navigated this process successfully in a matter of months ensuring Tower’s continued growth, focus on innovation and service delivery.”

Just Arne Storvik, Co-Founder and Chairman at Tower highlighted: "Although we had the benefit of many inbound advisor leads, we followed the recommendation of a close friend, who had just done a successful deal, to speak to Graham Carberry at Arrowpoint Advisory, Rothschild & Co’s mid-market team. Our decision has been vindicated. We have been thoroughly impressed with the skills and dedication of the team, and would highly recommend them.”

Freddie Hobart, Assistant Director at Arrowpoint Advisory, concluded: “Niall and the Tower team have built a leading business within the cold chain sector, with differentiated products and a value-added service offering. The combination with CCT signals the start of an exciting new chapter for the business, with the platform and potential to continue its strong track record of growth.”

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