THE temperature-controlled Unit Load Device (ULD) firm Envirotainer is set to be sold for US$2.94 billion to private equity firm Cinven and co-investor Novo Holdings selling the air cargo business to another private equity firm EQT and investment company Mubadala, reports London's Air Cargo News.
International law firm Clifford Chance advised Cinven and Novo Holdings on the deal.
The sale comes four years after Cinven purchased the company for an undisclosed sum.
Shortly after the purchase, Novo Holdings acquired a 24.9 per cent equity stake in Envirotainer.
Headquartered in Sweden, Envirotainer is a provider of temperature-controlled air cargo containers for the global pharmaceutical supply chain.
The last few years have seen a rise in demand for temperature-controlled transportation due to the Covid crisis and the need to transport vaccines.
Clifford Chance originally advised Cinven, alongside law firm Vinge, on its acquisition of Envirotainer in 2018.
SeaNews Turkey
International law firm Clifford Chance advised Cinven and Novo Holdings on the deal.
The sale comes four years after Cinven purchased the company for an undisclosed sum.
Shortly after the purchase, Novo Holdings acquired a 24.9 per cent equity stake in Envirotainer.
Headquartered in Sweden, Envirotainer is a provider of temperature-controlled air cargo containers for the global pharmaceutical supply chain.
The last few years have seen a rise in demand for temperature-controlled transportation due to the Covid crisis and the need to transport vaccines.
Clifford Chance originally advised Cinven, alongside law firm Vinge, on its acquisition of Envirotainer in 2018.
SeaNews Turkey