Aurora Continues Cold Chain Build
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Aurora Continues Cold Chain Build

The acquisition of Packaging Technology Group is the second by Cold Chain Technologies since being acquired by Aurora in 2019

Packaging Technology Group designs and manufactures thermal packaging and shipping products for the biopharmaceutical and life sciences industries

SOURCE: Packaging Technology Group

Cold Chain Technologies (CCT), a portfolio company of Aurora Capital Partners, has acquired Packaging Technology Group, (PTG) a provider of thermal packaging. The acquisition of PTG is the second by CCT since being acquired by Aurora in July 2019.

PTG designs and manufactures thermal packaging and shipping products for the biopharmaceutical and life sciences industries. The company’s products are made from recycled materials and are both recyclable and repulpable. Fall River, Massachusetts-based PTG was founded in 2005 by CEO Bill Blezard.

“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 Mr. Blezard. “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.”

CCT is a provider of single-use and reusable passive thermal packaging products that are used in the shipping of temperature-sensitive materials, principally in the life sciences supply chain including commercial manufacturing, pharmaceutical distribution, clinical trials, specialty pharmacy deliveries, and direct-to-patient shipments. The company, led by CEO Ranjeet Banerjee, was founded in 1967 and is headquartered near Boston in Franklin, Massachusetts.

“PTG is a pioneer in developing sustainable thermal packaging solutions that meet the strict requirements of its global blue-chip pharmaceutical clients,” said Mr. Banerjee. “We are thrilled to partner with Bill 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.”

Aurora Capital makes control investments of $50 million to $300 million in industrial, manufacturing and service-oriented businesses that are valued between $100 million and $500 million. Specific sectors of interest include industrial services and distribution, engineered products, and technology-enabled services. Aurora Capital was founded in 1991 and is headquartered in Los Angeles.

© 2022 Private Equity Professional | March 31, 2022

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