Thermal packaging provider Cold Chain Technologies makes another acquisition
Private equity-backed firm buys Packaging Technology Group to expand its recyclable parcel portfolio for life sciences sector and covid vaccine shipments.
Thermal packaging solution provider Cold Chain Technologies LLC (CCT) is tapping into its private equity backing to acquire Packaging Technology Group LLC (PTG), a vendor of sustainable, curbside-recyclable thermal packaging for the life sciences industry, the firms said today.
Terms of the transaction were not disclosed. CCT has been owned by Aurora Capital Partners since 2019, during which time it has grown through acquisitions and has provided the packaging used to ship some half-billion doses of Covid-19 vaccine doses worldwide.
Massachusetts-based CCT said the move furthers its commitment to environmentally friendly packaging solutions, since PTG’s products allow customers to reduce landfill waste by millions of pounds annually and shrink the life sciences industry’s overall carbon footprint.
“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,” Ranjeet Banerjee, CEO of CCT, said in a release.
#CCT is excited to announce our acquisition of #PackagingTechnologyGroup today! This will further CCT’s commitment to environmentally friendly and #sustainablepackaging solutions. Learn more:https://t.co/qRm29krgGE #ptg #coldchain #packagingtechnology #thermalpackaging #recycle pic.twitter.com/csZxzDN6zT
— CCT (@COLD_CHAIN_TECH) March 21, 2022