AeroSafe Global Announces $31.5 Million New Investment
Peloton Equity partners with Hamilton Lane, Flexstone Partners, and existing investors to accelerate the growth of a leading provider of cold chain packaging and logistics solutions
ROCHESTER, New York (July 24, 2019) – AeroSafe Global (AeroSafe) announced today that Peloton Equity, LLC (Peloton), accounts managed by Hamilton Lane, and certain existing investors including Flexstone Partners, have invested an aggregate of $31.5 million of growth capital in the company. AeroSafe will use the funding to accelerate its sales and marketing efforts, launch additional value-added services and technologies, and expand into new geographies.
With more than 30 Fortune 500 pharmaceutical and healthcare customers, AeroSafe is the principal provider of outsourced cold-chain-as-a-service (CCaaS) solutions for the pharmaceutical, biopharmaceutical and medical device industries. AeroSafe’s innovative packaging technology, cost- efficient re-use business model, and data tracking and analytics ensure the safe, efficient and sustainable delivery of temperature-sensitive drugs and devices, while providing customers with a streamlined solution for the entire cold chain from manufacturer to end-user.
"Peloton’s expertise and network in the healthcare segment will bring additional resources, insights and business development opportunities to accelerate industry adoption of AeroSafe’s innovative products and technologies," said Jay McHarg, Chief Executive Officer of AeroSafe. "This new financing round
expands our team of blue-chip investors who enthusiastically support AeroSafe’s growth plans."
The global biopharmaceutical cold chain logistics market, currently estimated at $15 billion, is growing rapidly due to advancements in biologics, vaccines, cell therapy products, and other drugs and devices that are manufactured to temperature specificity and require maintenance of that temperature range throughout the supply chain. These drugs and devices are often for the treatment of chronic conditions and/or life-threatening illnesses and in many cases represent pharmaceutical and device manufacturers’ most critical products. AeroSafe’s track record of temperature reliability across a range of shipping situations is prized by its customers.
"Our transformation from a product company to a leading-edge, technology-based service company has enabled us to become a partner, rather than a vendor, to our customers," added McHarg. "This investment will allow AeroSafe to continue to innovate to meet the market’s evolving cold chain needs. We see a bright future for our customers, investors and team members."
Ted Lundberg, Co-Founding Partner at Peloton, and Justin Yang will join the AeroSafe Board of Directors.
"The market AeroSafe serves is massive and is becoming an increasingly important component of the global pharma supply chain. Peloton has been looking for differentiated growth companies in this space for a long time, and we are particularly impressed with AeroSafe’s re-use business model, product technology and customer service performance," said Justin Yang, Partner at Peloton Equity. “We are very excited to partner with Jay and his team in supporting AeroSafe’s next phase of growth.”
About AeroSafe Global
Based in Rochester, New York, AeroSafe Global pioneered cold-chain-as-a-service (CCaaS), which includes proprietary technologies and turnkey solutions that biopharmaceutical, pharmaceutical and device manufacturers rely on for shipping temperature-sensitive products. With its patented technology and sophisticated logistics platform, AeroSafe provides simple, reliable, flexible and sustainable cold chain logistics alongside a guarantee of zero temperature excursions. For more information, visit https://www.aerosafeglobal.com/.
About Peloton Equity
Peloton Equity, LLC (http://www.pelotonequity.com) is a Connecticut-based private equity firm focusing exclusively on growth capital investments in the healthcare industry. Peloton is the successor firm to Ferrer Freeman & Company (FFC), and the team has over 60 years of combined healthcare investing experience, including investments in companies across many major healthcare subsectors. Peloton seeks companies with between $20 and $200 million of revenue and the management team, market opportunity and business model to grow revenues meaningfully over the life of its investment. While at FFC and Peloton, the Peloton investment team has been responsible for over 30 portfolio company investments across the healthcare industry representing over $735 million of invested capital, of which 14 have been realized through company sales and five have been realized through IPOs. Recent investments include AeroCare Holdings, Arcadia Solutions, ClearSky Health, HPOne and ID Experts.