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-euro 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 and Director Karen Edwards arranged debt financing from Crescent Capital for the transaction. Handelsbanken continue to provide banking facilities to the business.