TOWER Cold Chain Solutions partners with Investec to serve growing market demand
06 / 05 / 2020
By Rachelle Harry
Cold chain container manufacturer TOWER has formed a partnership with Investec
TOWER Cold Chain Solutions has formed a partnership with Investec, which will enable it to expand the production of its stock containers by 400%.
For more than 20 years, TOWER has produced innovative solutions for the reusable controlled-temperature market.
Its portfolio, developed in response to market demand and with simplicity and agility in mind, includes go-to packaging for small difficult shipments, one of the first reusable solutions to use built-in loggers for containers in transit, and its KTM range which offers a variety of sizes for palletised loads.
KTM: Serving the market
TOWER’s KTM range is modular and can be built into six different versions from the same basic components to fit into a variety of transportation modes, including aircraft and lorry holds. The multi-use nature of the containers makes them an appealing end-to-end solution that reducing multiple operational risk factors.
Ultimately, containers in the KTM range are a cost-effective, powerful, versatile and offer market-leading life-expectancy.
TOWER containers are simple to load, ship, unpack and store. Combine that with on-site training from TOWER, the company’s global network and ease of rent process, it is easy to see why the KTM range is rapidly becoming a first choice across the 3PL market.
Currently, TOWER services and supplies 16 leading pharma companies across the globe and 14 global pharma 3PL companies. These players trust TOWER containers and the simplicity and reliability they bring.
Over the last 10,000 shipments (ignoring manual error) TOWER recorded fewer than 0.1% temperature excursions. This is perhaps why clients choose TOWER, valuing reliable performance over cosmetic appearance.
With the ability to cater for temperature ranges from –80°C to 25°C, TOWER’s containers offer a consistent and cost-effective solution that is simple yet reliable.
Partnership: A new dawn
TOWER’s desire to serve the market has always been there, however, as demand for more containers grew, cash has been the major constraint.
With Investec’s private capital team now working directly alongside the TOWER board as equity partners to inject new capital and fund a 400% expansion of TOWER’s stock of containers, the company is looking to the future with promise.
Niall Balfour, managing director of TOWER, commented: “We know that we are offering a uniquely effective product in this highly competitive and fast-moving marketplace. Our only problem has been how to make enough containers to satisfy demand.
“Now we can turn to our customer base, which already includes many of the world’s leading pharmaceutical manufacturers, with real confidence and present ourselves as serious strategic partners.”
The alignment between TOWER and Investec’s approach to entrepreneurialism, the shared values and culture running throughout both parties has created a harmony to build towards success.
Balfour explained: “The new growth capital with Investec’s backing delivers the investment we have been waiting for, and it is going to make a colossal difference to TOWER.
“The funding of this new container build programme gives us a critical mass that unlocks significant operating efficiencies that can offer our clients real confidence in TOWER as a serious strategic partner.
“This increase in size and scale allows us to better service our customers’ global needs by enabling us to build on current market demand and follow our customers into new markets where the combination of reliability, cost-effectiveness and proven sustainability are needed most.”
Jonathan Wynn at Investec, added: “This is the beginning of an exciting partnership, and we are proud to be standing alongside TOWER. This capital injection by Investec’s Private Capital team is not just a one-off transaction, but a first step in bringing Investec’s full toolkit to support TOWER on its growth journey.”