Envirotainer to be sold in a deal worth €2.8bn

Temperature-controlled ULD firm Envirotainer is set to be sold in a deal worth around €2.8bn.

The deal will see private equity firm Cinven and co-investor Novo Holdings sell the air cargo business to another private equity firm, EQT and investment company Mubadala.

International law firm Clifford Chance advised Cinven and Novo Holdings on the deal, which has an enterprise value of approximately €2.8bn.

The sale comes around four years after Cinven purchased the company for an undisclosed sum.
Shortly after Cinven’s purchase, Novo Holdings agreed to acquire a 24.9% equity stake in Envirotainer.
Headquartered in Sweden, Envirotainer is a global 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 as a result of the Covid outbreak and the need to transport vaccines.

Envirotainer launched the RAP version of its Releye temperature-controlled container in February.
The first commercial shipment using Envirotainer’s Releye RAP temperature controlled container was handled by Swiss WorldCargo in March.

Clifford Chance originally advised Cinven, alongside law firm Vinge, on its acquisition of Envirotainer in 2018, and has supported Cinven throughout the lifecycle of its investment.
Vinge also advised on the Swedish aspects of the current sale, said Clifford Chance.