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Great Point Partners-Backed Softbox Systems Completes Third Acquisition in The Last Year – Acquiring Cold Tech Systems in Panama
Introduction
GREENWICH, CT and LONG CRENDON, U.K. — Great Point Partners (“GPP”) today announced that Softbox Systems (“Softbox”), a GPP II portfolio company, has acquired Panama-based Cold Tech Systems (“Cold Tech”), the exclusive Softbox licensee in Latin America for several years. This establishes Softbox as the leading supplier of high-quality temperature control packaging systems for the region’s pharmaceutical cold chain industry.
The acquisition of Cold Tech Systems enhances Softbox’s ability to distribute its innovative temperature control packaging systems directly to the Latin American market and meet the increasing demand for local innovation as well as local production, inventory, and technical and quality assurance support.
Noah Rhodes, Managing Director at GPP, said “Softbox continues to grow rapidly, and revenue has more than tripled since our investment in 2014. The pharmaceutical industry today is global, and we are committed to building a matching geographic footprint to serve our customers. The acquisition of Cold Tech further expands our reach and augments our position as the global leader in the passive temperature-controlled packaging industry.”
Wayne Langlois, President of Softbox, commented “With the acquisition of Tempack in 2017 and now Cold Tech Systems, we have become an even stronger and simpler solution in Latin America, and I believe our combined companies, will provide the market’s best products, service and support to our customers.”
Alfredo N. Ratmiroff, President of Cold Tech Systems, added: “The integration with Softbox significantly strengthens Cold Tech’s ability to supply its customers in Latin America with the best-in-class cold chain solutions. Softbox’s acclaimed client-driven innovations and Cold Tech’s client-centric product and service customizations are combining to offer the most effective temperature protection with packaging that maximizes logistic efficiency.”
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $1.1 billion of equity capital under management and 28 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP II, which has closed on $215 million. Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million) and public (BioMedical Value Fund, approximately $675 million) equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, outsourcing and alternate site care, pharmaceutical infrastructure and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or www.gppfunds.com.
About Softbox Systems
Softbox Systems based in Long Crendon, U.K. is an award winning temperature control packaging innovator that has been designing and producing high performance passive temperature control packaging solutions for over 20 years. The Company offers consistent quality to our clients from our strategically located global manufacturing sites throughout Europe, North America, Latin America and Asia Pacific.
Softbox has formed long standing partnerships with the world’s leading biotech, pharmaceutical, clinical research and logistics companies, and apply innovative thinking to overcome the challenges that our clients face in managing the Cold Chain when shipping temperature sensitive clinical trial and commercialised products. For more information on Softbox please visit www.softboxsystems.com.