LOWENCO announces another record year, with continued strong growth!
In the twelve months ended December 31, 2021, the Danish pioneer in large scale modular and highly energy efficient ultra-low temperature (“ULT”) storage solutions for commercial biopharma, saw revenue soar by c. 32% and operating profit increase from c. DKK 63 million in 2020 to c. DKK 80 million in 2021. Lowenco continues to gain significant commercial traction and is today a preferred supplier of sustainable large scale modular ULT storage solutions to several of the largest biotech and pharmaceuticals companies across the globe.
“LOWENCO’s annual report for 2021 reflects continued success in our efforts to further expand and penetrate the Company’s customer base and strengthen its position globally, in an industry where sustainable and premium quality solutions are rightfully gaining increased attention. In particular, the successful momentum within our existing customer base shows that not only the products, but also the way we manage projects and perform installations at customer sites, is highly appreciated and recognized by our customers. Furthermore, we believe we are well positioned to continue addressing the increasing demand for large scale ULT storage solutions, underpinned by the strong underlying growth in biopharma volumes, leveraging our unique customer value proposition that is centered around superior quality, performance and service, leading energy efficiency, and significantly lower cost of ownership”, says Mikael Hoier, CEO of Lowenco A/S.
Change in ownership paves the way for accelerated growth
In February 2022, LOWENCO was acquired by Impilo, together with SHS Capital, two healthcare focused investment companies.
“Impilo’s and SHS Capital’s combined experience in healthcare makes them ideal partners to take Lowenco to the next level of success, and we look forward to continuing to work closely together to remain in the forefront of delivering innovative ULT storage solutions to our growing customer base. By partnering with Impilo and SHS Capital, we can focus on driving our strategy and expanding our global presence at an accelerated pace, to the benefit of our existing and new customers. Efforts to ramp up commercial activities, including expanding the sales force as well as the after sales and service staff to get even closer to our global customers, are already in motion. Furthermore, given the positive pipeline development, we also invest in expanding our production capacity to meet the steadily increasing demand for our innovative solutions”, says Mikael Hoier.
For further information, please contact:
Mikael Hoier, CEO of Lowenco, +45 25 80 80 10, email@example.com
LOWENCO is a leading manufacturer of sustainable large scale modular ultra-low temperature (“ULT”) storage solutions for the pharma and biotech industries. The Company serves a growing global customer base and its unique ULT storage solutions, developed in accordance with GMP guidelines, offer superior quality and technical performance, as well as lower cost of ownership. Lowenco’s motto, “Creating a better world — one unit at a time,” is the foundation of every action the Company takes. Quality and order are at the core of its processes. The business is located in Vamdrup, near Kolding, Denmark.