Cinven Mulls Options for $3.4 Billion Medical Freight Specialist
(Bloomberg) -- Cinven is weighing options for Swedish medical freight specialist Envirotainer AB, according to people familiar with the matter.
The private equity firm is working with Citigroup Inc. and JPMorgan Chase & Co. as it examines possibilities including an initial public offering of Envirotainer this year, according to the people, who asked not to be identified because the information is private. It could also consider a sale of the business, which is likely to be valued at about 3 billion euros ($3.4 billion) in any deal, the people said.
Deliberations are ongoing and there’s no certainty they’ll result in a deal, the people said. Representatives for Cinven, Citigroup, Envirotainer and JPMorgan declined to comment.
Envirotainer has about 300 employees and makes and leases temperature-controlled containers used by the pharmaceuticals industry to transport products. It has helped to ship hundreds of millions of doses of Covid-19 vaccines during the pandemic, according to its website.
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