Clearwater International has advised the owners of ChargePoint Technology Holdings Limited (ChargePoint), the high growth designer, manufacturer, and innovator of specialist high containment and sterile transfer valves, on securing a multi-million-pound investment from private equity firm LDC to drive further international expansion.
The investment by LDC, supporting Managing Director Chris Eccles and Sales Director Tony O’Sullivan in the buyout, will see LDC become a minority shareholder.
The business, which is headquartered in Speke, Liverpool, manufactures and supplies high-performance containment and sterile transfer valves to the largest global pharmaceutical, bio-pharmaceutical and chemicals companies. Operating across Europe, Asia and North America, its patented technology is used in the development and manufacture of medicines and vaccines by the top 50 global pharmaceutical manufacturers, facilitating the safe transfer of highly-potent and sterile powders.
ChargePoint has achieved significant growth over the past three years, including 100% increase in revenue and achieving record EBITDA in 2016.
Following LDC’s investment, the business plans to capitalise on the strong and increasing demand for its solutions internationally, in particular in North America, whilst accelerating sales of its innovative AseptiSafe® Bio product and investing in the development of new products, particularly in the aftercare market.
The investment from LDC will also enable management to embark on a targeted acquisition strategy to help it expand into adjacent sectors requiring containment and sterile transfer solutions.
As part of the deal, Richard Yarwood has been appointed as Non-Executive Chairman. Richard has more than 30 years’ experience in the pharmaceutical sector, both in the UK and USA, and was previously CEO of Penn Pharma.
Clearwater International Industrial’s Partner Paul Jones, Director Michael Loudon and Associate Director Chiara Pettinicchio advised the shareholders of ChargePoint on the transaction. Clearwater’s Debt Advisory team led by Partner Mark Taylor, arranged debt financing from Crescent Capital for the transaction. Handelsbanken continue to provide banking facilities to the business.
Chris Eccles, Managing Director at ChargePoint, said: “Over the past 12 months we have continued to invest in both the infrastructure of our business and our product portfolio. We have created a strong platform for future growth and bringing LDC on board as an investment partner is a clear statement of intent regarding our future ambitions. With the team’s track record in the sector and its in-depth experience of delivering international growth, we’re confident we have the right people in place to help us take our market-leading technology even further afield.”
Chris Wright, Investment Director at LDC, added: “Operating in an industry that is growing at an average of 12% every year, ChargePoint now has an opportunity to expand on this even further. New drugs are coming to market at a record pace, and with companies operating against a backdrop of increased regulation and stringent health and safety measures the demand for ChargePoint’s products is only going to increase. We’re looking forward to supporting Chris and the team to deliver the next stage of the organisation’s growth and evolution.”
Paul Jones, Partner, Clearwater International commented: “ChargePoint is an exceptional business with a fantastic management team. The investment from LDC will enable the company to continue its successful international growth strategy and build upon its strong market position and leading technology. We wish ChargePoint and its management team continued success for the future.”