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The Company’s products are used in many segments of the life sciences
industry, including commercial manufacturing, pharmaceutical distribution, clinical
trials, specialty pharmacy deliveries, and direct-to-patient shipments. Terms of the
transaction were not disclosed.
Headquartered in Franklin, Massachusetts, Cold Chain Technologies has been a
leader in temperature-sensitive packaging solutions since its founding in 1967.
Over the last 21 years, under the leadership of CEO Larry Gordon and his
management team, the Company has developed the industry’s broadest portfolio of
high-performing proprietary products, including a variety of modular single-use and
reusable parcel and pallet shippers, thermal pallet covers, and phase change
materials. CCT’s engineering and technical staff also provide its customers with
access to custom packaging design and development utilizing advanced thermal
modeling and a variety of technical and product qualification services to deliver
tailored support to meet the unique needs of each client.
“CCT has built a premiere reputation in the cold chain packaging industry where the
high cost of product spoilage has driven an intense focus by life sciences customers
on quality and reliability,” said Mark Rosenbaum, Partner at Aurora. “With the
Company’s long list of blue-chip clients and track record of organic growth, we
believe CCT is well positioned as the best platform in the industry to continue to
grow with its customers both domestically and internationally.”
“CCT is an excellent fit with Aurora’s investment strategy, and we are proud that
Larry and his team selected Aurora as their partner for the next phase of CCT’s
growth,” said Randy Moser, Partner at Aurora. “We are thrilled to be partnering
with such an outstanding team, and we are excited to explore the number of
opportunities that we believe exist to deploy additional capital to help CCT realize
its full potential.”
“We built CCT on a ‘customer first’ philosophy, and we have continued to expand
our offerings as our clients’ needs have evolved,” said Larry Gordon, CEO of Cold
Chain Technologies. “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.”
President Bob Bohne added, “We are excited to partner with Aurora, a firm with an
outstanding track record of success working with founder-owned businesses that
can also draw on its extensive industry experience and broad network of talented
resources. 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.”
Larry Gordon will continue in his role as CEO. Bob Bohne, the executive leadership
team, and the talented group of middle managers will all remain with CCT as it
embarks on its next chapter with Aurora as its partner.
This transaction marks the seventh investment from Aurora Equity Partners V,
which has $1.2 billion in commitments, and the fifth investment from this fund
where Aurora is partnering with a founder or founder family.
Harris Williams & Co. served as financial advisor to CCT, while Goodwin Procter LLP
served as legal advisor. Robert W. Baird & Co. served as financial advisor and
Kirkland & Ellis LLP served as legal advisor to Aurora.