Liverpool-headquartered pharmaceutical manufacturer ChargePoint Technology (“ChargePoint”) has announced record financial results alongside plans for further international expansion.
The business reported a six per cent growth in revenue to £12.5m (2016: £11.7m) for the year to December 2017, citing a strong contribution from its US and India businesses.
ChargePoint manufactures high-performance containment and sterile transfer valves, and its patented technology is used by clients ranging from the world’s top pharmaceutical companies through to smaller, independent manufacturers.
The business was backed by private equity firm LDC in January 2017 and since then has made a significant investment in research and development, increased manufacturing capacity at its plant in Liverpool through new equipment and technology and grown its global headcount to almost 100 employees.
Growth to date has been driven by significant growth in aftercare products and targeted product launches, including the industry-leading AseptiSafe bio valve which was launched in 2017 to offer heightened sterility assurance for ingredient and small component transfers, and a continued focus on international expansion. In recent months ChargePoint has also reported triple-digit sales growth in China and Japan as a result of continued demand for its market-leading products.
Looking ahead, the business plans to target strategic expansion across North America, Europe, Asia and the Middle East, supported by a series of strategic senior appointments across the EMEA region.
Chris Eccles, CEO at ChargePoint, said: “This has been a ground-breaking year for ChargePoint as we accelerated our growth in multiple markets around the world, building a solid platform for future expansion in this rapidly-evolving market. We are now recognised as a major player globally for our contained transfer valves, offering industry-leading solutions to blue-chips and SME manufacturers alike.
“LDC’s investment and continuous support has turbocharged our growth and allowed us to set the wheels in motion on some exciting projects. We have lots of activity in the pipeline – almost too much! But we’re looking forward to kickstarting our next phase of growth and enhancing our offering even further.”
Ged Gould, senior director at LDC North West, added: “ChargePoint is demonstrating strong growth which is testament to the commitment of Chris and the team and a truly global ambition. The business has established itself as a global player offering world-leading contained transfer solutions and we’re excited to see it continue to go from strength-to-strength.”