US-headquartered Cold Chain Technologies (CCT) has acquired Berkshire-headquartered Tower Cold Chain (Tower).
CCT is a global provider of thermal packaging and digital solutions for shipping temperature-sensitive material for the life sciences industry.
Meanwhile, Tower, founded in 1999, manufactures advanced passive reusable thermal packaging solutions primarily for pharmaceutical and biopharmaceutical applications.
This is CCT’s fourth acquisition since partnering with Aurora Capital Partners in 2019. In that period it has expanded its portfolio of sustainable packaging solutions, entered key new life sciences verticals, launched its digital platform, and grown its global manufacturing and service capabilities.
"Tower has developed an impressive portfolio of highly technical, robust reusable products capable of exceeding the stringent requirements of global pharmaceutical clients," said Ranjeet Banerjee, CEO of CCT.
"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, added: "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."
He added: "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."
