AeroSafe Global Secures $31.5M Private Equity Funding to Expand Cold Chain-as-a-Service for Biopharma

On July 24, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that cold chain logistics provider AeroSafe Global announced the completion of a $31.5 million private equity financing round. The round was led by Peloton Equity, with participation from Hamilton Lane and Flexstone Capital. The proceeds will be used to accelerate the company’s sales and marketing efforts, launch additional value-added services and technologies, and expand its business into new regions. Ted Lundberg and Justin Yang, Co-Founding Partners of Peloton Equity, will join the Board of Directors of AeroSafe.

AeroSafe Global, headquartered in Rochester, New York, USA, is a leading provider of cold chain outsourcing as a service (CCaaS) solutions for the biopharmaceutical and medical device industries, serving more than 30 Fortune 500 pharmaceutical and healthcare clients. The company is a pioneer in the cold chain logistics industry.

AeroSafe leverages patented technologies and an advanced logistics platform to provide biopharmaceutical companies with simple, reliable, flexible, and sustainable cold chain logistics services. With its innovative packaging technology, logistics, and operational services, AeroSafe ensures the safe delivery of temperature-sensitive products while offering customers streamlined solutions for the entire cold chain from manufacturer to end user.

Biologics, vaccines, cell therapy products, and other pharmaceuticals and medical equipment sectors are experiencing rapid growth. Currently, the global market size for cold chain logistics in biopharmaceuticals has reached $15 billion. The drugs and equipment transported via cold chain logistics are typically the most critical products for pharmaceutical manufacturers, with the majority used to treat chronic or life-threatening conditions. These products must be maintained within specific temperature ranges during transportation. Leveraging its extensive experience in cold chain logistics, AeroSafe has become highly favored by customers.

“Peloton’s expertise and sales network in the healthcare sector will bring additional resources, insights, and business development opportunities to the company, accelerating the sales of AeroSafe’s innovative products and technologies,” said Jay McHarg, CEO of AeroSafe. “This financing round has expanded our investor team, who are enthusiastically supporting AeroSafe’s growth plans.”

“The cold chain logistics market is vast and is becoming an increasingly critical component of the global pharmaceutical supply chain. For a long time, Peloton has been seeking differentiated growth companies in this sector, and we are particularly impressed by AeroSafe’s business model, product technology, and customer service performance,” said Justin Yang, Partner at Peloton Equity. “We are delighted to partner with Jay McHarg and his team, and we will provide strong support for AeroSafe’s next phase of development.”

Peloton Equity, established in 2014, is a private equity firm headquartered in Connecticut, USA, specializing in growth capital investments in the healthcare sector. Peloton is a subsidiary of Ferrer Freeman & Company (FFC), whose team boasts over 60 years of comprehensive healthcare investment experience, including investments across numerous healthcare subsectors. Peloton targets companies with annual revenues between $20 million and $200 million for investment. The Peloton investment team manages investments in more than 30 portfolio companies across the healthcare industry, with committed capital exceeding $735 million.

Hamilton Lane, founded in 1991 and headquartered in Pennsylvania, USA, is a firm providing private equity investment management services. The company operates nine offices across Europe, North America, and Asia.

Flexstone Capital, a private equity firm founded in 2005 and headquartered in New York, USA, manages over $670 million in investment capital. The firm’s team comprises more than 40 professionals with diverse backgrounds, experience, and expertise in private markets, focusing on investment opportunities in North America, Europe, and Asia.

(Compiled by Cheng Tao)