SHS Gesellschaft für Beteiligungsmanagement mbH
3. February 2022 - SHS News

Impilo and SHS acquire Lowenco

VAMDRUP, Denmark, February 3rd, 2022 – Impilo and SHS have acquired Lowenco A/S (“Lowenco” or the “Company”) from its founder and owners.

Lowenco was founded 2013 in Vamdrup, Denmark, and develops, manufactures, markets, and installs large scale modular and highly energy efficient ultra-low temperature (“ULT”) storage solutions for commercial biopharma, primarily targeting the drug substance market. Following an initial period of product refinement and establishment of go-to-market activities, Lowenco has over the past three years gained 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.

The Company is well positioned to continue addressing the increasing demand for large scale ULT storage solutions, underpinned by the strong underlying growth in biopharma volumes, leveraging its unique customer value proposition that is centred around superior quality, performance and service, leading energy efficiency, and significantly lower cost of ownership. Following the transaction, Lowenco’s management team will remain intact, led by CEO Mikael Hoier, who has been part of the management team since 2017.

Magnus Edlund, Partner at Impilo, and Manfred Ulmer-Weber, Partner at SHS, comment: “Lowenco provides a disruptive value proposition to an underserved and attractive niche market with strong structural tailwinds, where sustainable and premium quality solutions are rightfully gaining increased attention. As biopharma volumes continue to grow, Lowenco will be perfectly positioned to meet these growing demands and will continue its close cooperation with biopharma customers and CDMOs around the world to improve the quality and sustainability of ULT storage. Impilo and SHS are excited about working together with the management team to further expand and penetrate the Company’s customer base and strengthen its position globally”.

Mikael Hoier, CEO of Lowenco, comments: “We believe Impilo’s and SHS’ combined experience in healthcare makes them the 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 we will be able to develop the Company even faster to the great advantage for our existing and new customers. The entire Lowenco team are very much looking forward to this next exciting chapter in the great development of Lowenco”.

In connection with the transaction, Michael Berg, former CEO of Envirotainer, will be appointed Chairman of the Board of Lowenco.

“Lowenco’s novel large scale modular product approach allows for outstanding surface- and energy efficiency coupled with superior technical performance, resulting in by far the best sustainability and lifetime cost profile on the market. This disruptive technology will pave the way for an exciting future in the structurally growing and non-cyclical biopharmaceuticals markets. I look forward to contributing to the Company’s development”, says Michael Berg.

About Impilo

Impilo is a Nordic investment company focused on long-term investments in sustainable healthcare companies active in pharmaceuticals, medical technology, healthcare services and other health-related areas. The Company strives to increase value of its investments through long-term active ownership. Impilo has a well-diversified portfolio of investments and has raised more than SEK 9 billion in capital from leading Nordic and international investors since the start in 2017. The acquisition of Lowenco marks Impilo’s fourth investment in Denmark, together with Ferrosan Medical Devices, Scantox, and tandlæ Learn more about Impilo at

SHS Capital

“Building European Healthcare Champions” is the guiding principle of the Tübingen-based sector investor SHS. With this in mind, the investor specialising in healthcare investments finances and develops its portfolio companies. Since its foundation in 1993, the focus of its investments has been on expansion financing, shareholder changes and succession situations. In doing so, SHS takes both minority and majority stakes. Investors in SHS funds include pension funds, funds of funds, family offices, entrepreneurs, strategic investors and the SHS management team. The equity investment of the AIFM-registered company is up to EUR 20 million. Volumes exceeding this can be realised with a network of co-investors. SHS is currently investing from its fifth fund, which was launched in 2018. Learn more at

Lowenco A/S

Founded in 2013 and headquartered in Vamdrup, Denmark, Lowenco is a leading manufacturer of ultra-low temperature (“ULT”) storage solutions for the pharma and biotech industries. The Company serves a growing global customer base and its unique highly energy efficient and sustainable ULT storage solutions, developed under the brand names LSSU and CON20, offer superior quality and technical performance, and lower cost of ownership. Lowenco follows GMP guidelines and has a steadily increasing R&D pipeline. Learn more at