US investor injects millions into Liverpool firm

Based in south Liverpool ChargePoint Technology manufacturers and supplies sterile handing devices for the world’s top 50 global pharmaceutical manufacturers. Tony McDonough reports 

Chris Eccles
Chris Eccles, chief executive of ChargePoint Technology

 

Specialist Liverpool manufacturer ChargePoint Technology has secured a multi-million pound investment from US-based private equity firm Arcline.

In a deal announced on Monday, UK private equity outfit LDC has sold its stake in the firm which employs more than 80 people producing sterile and contained transfer handing devices for the pharmaceutical, biotech, chemical and other process industries.

During the four-year relationship with LDC, ChargePoint used pursued a successful international expansion strategy, pushing up sales across Europe, Asia and North America sales and growing revenues by around 30%. According to its latest accounts the business is turning over £12.7m a year with pre-tax profits of more than £3m.

Its patented technology is used by the world’s top 50 global pharmaceutical manufacturers. It helps transfer highly potent and sterile powders reliably and safely within advanced manufacturing facilities.

Working with Arcline, ChargePoint will be able to further accelerate its product development pipeline. Its says the relationship will “empower” the firm to deliver enhanced sterile and contained process products, as well as new innovations and technology platforms, to market faster than ever before.

Chris Eccles, chief executive of ChargePoint, said: “We partnered with LDC to help us expand our product range and accelerate our international expansions plans. Today, we’re a growing international business that serves most of the world’s leading pharmaceutical businesses.

“Partnering with Arcline is an incredible opportunity for us to further strengthen our commitment to delivering high-quality world class process solutions for our customers.”

John Clarke, investment director at LDC in Manchester, added: “During our partnership with the business, Chris has led ChargePoint to become a leading international player in its market. We’re excited to watch ChargePoint continue its impressive expansion under Chris’ leadership and wish the team the best with their future growth plan.”

LDC was advised by Clearwater International and Addleshaw Goddard. Arcline was advised by GCA Altium and Eversheds.

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