Temperature-controlled container specialist, Tower Cold Chain, has secured a position in the Financial Times annual list of Europe’s’ 1000 fastest-growing companies.
Based on revenue growth of European companies between 2018 and 2021, the pharmaceutical cold chain expert ranked 525th place, achieving an absolute growth rate of over 300 per cent.
Tower’s strong placing in the Financial Times list reinforces the business as a leader in robust, reliable, and reusable cold chain solutions for the pharmaceutical, 3PL and airline industries, following a period of rapid and sustained growth.
This follows the company’s receipt of £13million investment since 2020 from Investec. This funding has helped Tower to grow its container stock exponentially, double its employee base and develop its global footprint via its network of strategically located hubs.
“We want to congratulate Tower Cold Chain on this fantastic achievement and are honored to be both a lender and investor in the business. It is heartening to see the company recognised at the highest levels of the European financial community. The FT Fastest Growing Companies is a bellwether for business excellence and Tower has rightly been rewarded for their exceptional performance. We look forward to working with the Tower team as the business grows from strength to strength,” said Arjun Chopra, Head of Private Capital at Investec Bank plc.
Niall Balfour, CEO of Tower Cold Chain, added: “This accolade is a testament to the efforts of our expert team and recognises our focus on meeting our customers’ global supply chain needs. Sharing the spotlight with Europe’s fastest growing companies underpins a future investment program unrivalled in the pharmaceutical logistics industry, as we strive to become the number one cold-chain shipping providing of choice, worldwide.”
The recognition by the Financial Times is not unique; Tower won six awards in the past year alone, including an Institute of Supply Chain Management Award, a Silver EcoVadis Sustainability Medal and, most notably, The Queen’s Award for Enterprise for outstanding growth in international trade.
The company also launched its latest passive container last year, the KTEvolution - which has since seen plenty of interest and success in the market. As Tower’s smallest and first manually handleable container, it is ideal for last-mile deliveries clinical trials and a solution designed for the Cell & Gene Therapy market. Much like the rest of Tower’s solutions, the KTEvolution upholds the Tower standard of being robust, reliable and reusable and can offer 120+ hours of thermal protection at temperatures from <-60°C to +20°C.
As well as the innovation and development of products, Tower has also continued to expand its hub network, which now spans across 15 countries - most recently, establishing facilities in Incheon, South Korea, Chicago and Milan.