Founded in 2005, Packaging Technology Group designs, engineers, and manufactures sustainable, thermal shipping, and packaging solutions for the biopharmaceutical and life sciences sector
Cold Chain Technologies (CCT) has snapped up Packaging Technology Group (PTG), a provider of curbside-recyclable thermal packaging solutions for the life sciences industry, for an undisclosed sum.
Founded in 2005 and headquartered in Fall River, Massachusetts, PTG designs, engineers, and manufactures sustainable, thermal shipping, and packaging solutions for the biopharmaceutical and life sciences sector.
The product portfolio of PTG includes TRUEtemp Naturals, TRUEtemp Last Mile, TRUEtemp Virtus, TRUEtemp Endure and refrigerants/PCMS.
Introduced in 2018, PTG’s TRUEtemp Naturals line uses proprietary design and manufacturing technologies to offer pharmaceutical-grade, time-temperature performance in a 100% curbside recyclable solution.
Leveraging PTG’s products, customers can minimise landfill waste by millions of pounds per annum and reduce the overall carbon footprint of the life sciences industry, said CCT.
The acquisition of PTG will help CCT advance its commitment to eco-friendly and sustainable packaging solutions.
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.
“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.”
CCT, a portfolio company of Aurora Capital Partners, provides thermal packaging solutions for the transportation of temperature-sensitive products for the life sciences industry.
The latest deal represents CCT’s second add-on acquisition since collaborating with Aurora in 2019.
Packaging Technology Group founder and CEO Bill Blezardv said: “This exciting partnership will allow our combined company to invest further in critical sustainable technologies and deliver a broader suite of innovative solutions to our customers around the globe.
“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.”