Mubadala and EQT fund to buy Sweden’s Envirotainer By Reuters June 7, 2022 Creative Commons/Australian Embassy Jakarta Envirotainer products are used to deliver Covid vaccines from Australia to Jakarta, Indonesia Abu Dhabi state fund Mubadala and a fund managed by European buyout firm EQT have agreed to buy Envirotainer, a Swedish company that makes and leases cold containers for transporting temperature-sensitive healthcare products. Mubadala and the EQT X fund are buying the company from European buyout firm Cinven and Danish life-sciences investor Novo Holdings, Mubadala and EQT said in a joint statement on Tuesday. Envirotainer’s enterprise value amounts to roughly €2.8 billion ($3 billion), they said. “EQT and Mubadala will seek to support Envirotainer in its next phase of growth by accelerating expansion in [the Asia-Pacific region] and continuing stable growth in its other core markets,” they said. Envirotainer, founded in 1985, ships about 2 million doses of medicine every day in its temperature-controlled containers. It has more than 6,000 containers in its fleet and works for some 600 pharmaceutical and biotech companies, transporting products to 300 airports in 100 countries. Its head office is in Stockholm, with regional operations centres in Frankfurt, Dallas and Singapore. Mubadala posted a record income of 122 billion dirhams ($33 billion) in 2021, with CEO Khaldoon Khalifa Al Mubarak describing it as “Mubadala’s strongest financial year in its 20-year history”. The 2021 result for so-called total comprehensive income was up 69.4 percent on the 72 billion dirhams achieved in 2020. Mubadala’s assets under management rose to 1,045 billion dirhams, from 894 billion in 2020, it said.
