ChargePoint to accelerate international growth following LDC investment

ChargePoint Technology, the high growth manufacturer and innovator of specialist high containment and sterile transfer valves, has secured 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. The business employs over 60 people across the world. 

Following LDC’s investment, the business plans to capitalise on the strong and increasing demand for its solutions internationally, in particular 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. 

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.” 

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. LDC originally backed Penn Pharma in 2007, helping to increase revenues from £17m to £30m between 2007 and 2014, before management sold the business for £127m. 

The transaction was led by Ged Gould and Chris Wright at LDC in Manchester. Both will join the board as Non-Executive Directors. 

Chris Wright, Investment Director at LDC, added: “Chris and his team have built a truly fantastic business that has not only achieved significant market share but is continuing to create successful IP and develop products that deliver value for customers. 

“Operating in an industry that is growing at an average of 12 per cent 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.”

ChargePoint was advised by Clearwater International (Paul Jones, Michael Loudon), with legal advice from Ward Hadaway (Sean Fitzgerald). 

LDC was advised on its investment by GCA Altium (Simon Lord, Adam Sivner), with legal advice from Addleshaw Goddard (Paul Medlicott, Katie Simpson). 

Financial due diligence was undertaken by Deloitte, with commercial due diligence completed by PMSI.

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Notes to Editors

  1. LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.  
  2. LDC backs ambitious management teams from UK-based medium sized companies seeking up to £100m of investment to fund management buyouts or development capital transactions.
  3. LDC invests in a broad range of sectors and has particular experience in Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure, Support Services, Construction & Property and Financial Services.
  4. LDC has a UK regional network with locations in Aberdeen, Birmingham, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, Newcastle, London, Manchester, Nottingham and Reading.