Aurora Capital buys thermal packaging firm Cold Chain Technologies

25 July 2019 (Last Updated July 25th, 2019 11:17)

Aurora Capital Partners has made its seventh investment with the acquirement of Cold Chain Technologies (CCT) in an undisclosed deal.

Aurora Capital Partners has made its seventh investment with the acquirement of Cold Chain Technologies (CCT) in an undisclosed deal.

Established in 1967, Cold Chain Technologies offers temperature-sensitive packaging solutions for customers across the life sciences industries, including commercial manufacturing, pharmaceutical distribution, clinical trials, speciality pharmacy deliveries and direct-to-patient shipments.

The thermal packaging solutions company is headquartered in Franklin, Massachusetts, US. It is being operated under the leadership of its CEO Larry Gordon and the management team.

Gordon said: “We built CCT on a ‘customer first’ philosophy and we have continued to expand our offerings as our clients’ needs have evolved.

“While our ongoing success has enabled us to self-fund our extensive growth over the past 21 years, it became clear that finding the right partner would allow us to accelerate our growth plans.

“We couldn’t have found a better partner than Aurora to help us continue to exceed our customers’ expectations as we expand globally, develop exciting new products and grow our reusable solutions offering.”

Gordon will continue in his role as CEO, while Cold Chain Technologies’ president Bob Bohne, its executive leadership team and a group of middle managers are all set to remain with the company.

Harris Williams acted as financial advisor and Goodwin Procter as legal advisor to CCT. For private equity firm Aurora, Robert W. Baird served as financial advisor and Kirkland & Ellis as legal advisor.

Bohne said: “We selected Aurora not only because they share our vision and support our growth strategy, but because of the strong cultural alignment that exists between our firms.”