Frazier Healthcare invests in CSafe Global purchasing 50% share
CSafe Global, a global provider of cold chain shipping solutions to global pharmaceutical and life sciences companies, and portfolio company of Thomas H. Lee Partners, L.P. (THL), has completed the sale of a 50 per cent stake to Frazier Healthcare Partners (Frazier).
Headquartered in Dayton, Ohio, CSafe offers a full suite of cold chain shipping solutions and is a leading provider of active air cargo solutions as well as passive parcel and cell and gene solutions. In addition to key acquisitions, CSafe has expanded operations to more than 40 service centres and countless hubs worldwide to ensure product availability and to continue to fulfill its mission to provide patients around the world with access to viable, life-enhancing pharmaceuticals.
“When we invested in CSafe in 2016, we believed in both the quality of CSafe’s offering and the demand for cold chain shipping solutions. Over the past few years, we have worked with management to drive organic growth and operational initiatives, further positioning CSafe for continued success,” said Josh Nelson, managing director at THL.
“During the global pandemic, there has been an increased focus on the pharmaceutical supply chain and CSafe has been ready and able to serve its customers despite a challenging operating environment. The company’s customer-first approach has positioned it well for what we believe to be a critical period for pharmaceutical companies,” said Megan Preiner, managing director at THL.
“Over the past few years, THL has been a great partner of ours by helping us further define our business strategy and commercial offering,” said Patrick Schafer, CEO of CSafe. He added, “By adding Frazier as an investor alongside THL, we look forward to the next chapter of value creation for CSafe.”
Together, THL and Frazier will partner with CSafe on the next phase of the company’s growth. They have a successful history of working together, particularly in pharma services. They will work closely with CSafe to continue to provide best-in-class service to the company’s growing and valued pharma customers.
“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,” said Ben Magnano, managing partner at Frazier. He added, “This investment is exemplary of Frazier’s longstanding pharma services thesis, as we partner with Frazier executive in residence Bill Mitchell, in his role as executive chairman of the Board of CSafe following his successful tenure as CEO of former Frazier portfolio Company PCI Pharma Services.”
Specific terms of the transaction have not been disclosed.