Arsenal Capital Partners, a leading private equity investment firm with a focus on industrial growth and healthcare, has announced the completion of its acquisition of ThermoSafe from Sonoco Products Company.
Headquartered in Arlington Heights, Illinois, ThermoSafe is a global leader in temperature assurance packaging technologies, enabling the safe and efficient transport of pharmaceuticals, biologics, vaccines, and other healthcare products. The company’s comprehensive suite of solutions includes bio-based insulation materials and reusable technologies for refrigerated, frozen, and controlled-temperature applications. Its ISC Labs division provides customized design and testing services, advanced packaging innovation, and regulatory qualification and validation support.
The acquisition marks a significant expansion for Arsenal Capital Partners within the healthcare packaging and logistics sector. Arsenal’s expertise in industrial technology and materials innovation positions ThermoSafe to accelerate its growth trajectory, expand its technology portfolio, and enhance its service to a global customer base.
Arsenal has an established track record of investing in and scaling specialty packaging businesses, with current and prior portfolio companies that include Airnov Healthcare Packaging, Spartech, POLYWOOD, Revolution, and Chroma Color Corporation.
Support: Raymond James acted as lead financial advisor and Kirkland & Ellis served as legal counsel to Arsenal. Morgan Stanley acted as financial advisor to Sonoco, with Freshfields providing legal counsel.
KEY QUOTE:
“ThermoSafe’s leadership in cold chain solutions aligns with Arsenal’s focus on partnering with and helping to build businesses that deliver innovation and lasting value. With decades of domain and technical expertise in the technology-rich industrial growth sectors, Arsenal is looking forward to partnering with Jim Lassiter and his team to further strengthen ThermoSafe’s position as a value-added partner providing innovative solutions to its markets and customers.”
George Abd, Operating Partner, Arsenal Capital Partners
“This strategic partnership with Arsenal will further accelerate ThermoSafe’s growth, enabling us to continue to advance our technology and product portfolio to meet the evolving needs of our global customer base. The closing of this transaction is a testament to the caliber and commitment of the teams involved, who have ensured a smooth transition for colleagues and the customers that we serve.”
Jim Lassiter, Chief Executive Officer, ThermoSafe
“We are delighted to work alongside the entire ThermoSafe team as they enter this next chapter of growth, staying true to the mission of addressing cold chain challenges that improve lives. Together, we will build on ThermoSafe’s strong foundation and reinforce the company’s position as a globally trusted strategic supplier of temperature assurance technologies.”
Matthew Teller, Principal, Arsenal Capital Partners
