CSafe Global provides a full suite of cold chain shipping solutions to the pharmaceutical and life science companies across the world
Frazier Healthcare has purchased 50% stake in CSafe Global. (Credit: Gerd Altmann from Pixabay)
Frazier Healthcare Partners has completed the acquisition of a 50% stake in cold chain shipping solutions provider CSafe Global from Thomas H. Lee Partners (THL) for an undisclosed sum.
Based in Dayton, Ohio, CSafe provides a full suite of cold chain shipping solutions to the pharmaceutical and life science companies across the globe.
The company also offers active air cargo solutions, in addition to passive parcel and cell and gene solutions.
CSafe uses advanced and fully-integrated artificial intelligence (AI) capabilities to deliver containers as per the customer requirements.
It has also expanded its operations to over 40 service centres and multiple hubs across the world for better product availability and serve patients across the globe.
CSafe CEO Patrick Schafer said: “Over the past few years, THL has been a great partner of ours by helping us further define our business strategy and commercial offering.
“By adding Frazier as an investor alongside THL, we look forward to the next chapter of value creation for CSafe.”
Both THL and Frazier will collaborate with CSafe on the next phase of the firm’s growth. They will also work with CSafe to deliver better service to the company’s pharma customers.
Frazier managing partner Ben Magnano said: “Frazier has been tracking CSafe for several years as a very attractive, highly complementary asset to add to our portfolio. We are thrilled to partner with THL on this opportunity and to back an excellent management team.”
William Blair acted as a lead financial advisor, while Ropes & Gray acted as legal counsel to CSafe for the transaction. Goodwin Procter acted as legal counsel to Frazier.
In June 2020, CSafe Global announced that it is working with Genome, a high complexity, genetic testing lab based in South Florida, to ensure safe transport of Covid-19 test kits to the lab for analysis.