US-based insulated packaging company Cold Chain Technologies (CCT) has acquired Packaging Technology Group (PTG), a company that provides sustainable thermal packaging for the life sciences industry.
The companies have not disclosed the financial terms of the transaction.
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The acquisition is part of CCT’s wider efforts to provide sustainable packaging solutions.
PTG marks the company’s second add-on acquisition since private equity firm Aurora Capital Partners took over the business in 2019.
CCT has also increased its reusable parcel and pallet portfolio, launched a digital tracking platform and expanded its geographical presence during this period.
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CCT CEO Ranjeet Banerjee said: “PTG is a pioneer in developing sustainable thermal packaging solutions that meet the strict requirements of its global blue-chip pharmaceutical clients.
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By GlobalData“We are thrilled to partner with Bill Blezard and the rest of the PTG team to continue investing in innovative solutions.
“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.”
Based in Massachusetts, PTG designs, engineers and manufactures kerbside-recyclable thermal shipping and packaging solutions for the biopharmaceutical and life sciences industries.
In 2018, the company launched its fully kerbside-recyclable TRUEtemp Naturals line, which is claimed to offer pharmaceutical-grade performance.
In addition to reducing millions of pounds of landfill waste a year, PTG products are designed to reduce the overall carbon footprint of the life sciences industry.
PTG founder and CEO Bill Blezard said: “We have long admired CCT as a leader in the thermal packaging industry and believe it is the ideal partner for PTG to help accelerate our growth.
“We look forward to working with Ranjeet and his team to better serve our customers, our employees and our community.”
