M&A

Global temperature-sensitive packing and digital solutions provider Cold Chain Technologies (CCT) has acquired Australia's Global Cold Chain Solutions (GCCS) to expand its Asia Pacific presence and capabilities.

GCCS operates passive cold chain solutions, primarily in Australia and India, designing and manufacturing thermal assurance for a range of life sciences applications that allow reliable transportation of life-saving drugs.

Ranjeet Banerjee, chief executive officer of the US-headquartered CCT, said: “GCCS has established itself as a regional market leader over the last two decades by leveraging its differentiated technologies and broad-ranging portfolio of products and services.

“GCCS’ rapid expansion in India and other global markets are further testament to the quality of its products, operations and customer service. We are thrilled to partner with Andrew and the entire GCCS team to further expand CCT’s footprint in Asia Pacific, which continues to see rapid investment across all life sciences verticals.”

Andrew Meyers, founder and chief executive officer of GCCS, said: “We are excited to leverage CCT’s diversified product portfolio, thermal engineering expertise and proprietary digital track-and-trace software to accelerate our worldwide growth.

“We have long admired CCT as a leader in our industry and believe it is the ideal partner to support GCCS’s next chapter of growth. We look forward to working with Ranjeet and his team to better serve our customers, our employees and the entire life sciences community.”

The agreement with GCCS marks CCT’s fifth acquisition since partnering in 2019 with the US private equity firm Aurora Capital Partners.