LDC has divested ChargePoint, a provider of sterile and contained process solutions, to Arcline Investment Management. No financial terms were disclosed.
Leading mid-market private equity firm LDC has exited specialist manufacturer ChargePoint Technology (ChargePoint) to US private equity firm Arcline Investment Management (Arcline).
The deal follows a four-year partnership that saw Liverpool-headquartered ChargePoint develop new products and pursue a successful international expansion strategy, accelerating global sales of its highly technical and innovative containment solutions. During its four-year partnership with LDC, ChargePoint increased revenues approximately 30 per cent.
ChargePoint manufactures and delivers enhanced sterile & contained process solutions to companies across Europe, Asia and North America. 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.
LDC first backed ChargePoint CEO Chris Eccles in 2017, providing investment to help the business to capitalise on growing international demand for its products.
The partnership also gave Chris the financial firepower to increase investment in new product development, allowing ChargePoint to expand its market share by manufacturing complementary, single use products alongside continuing improvement of its core range.
Over the last four years, ChargePoint successfully launched a series of new solutions including its VERIFi™ platform, a smart monitoring technology that provides information an equipment usage allowing preventative maintenance, and AseptiSafe® Bio, a specialist valve for customers working with toxic and sensitive substances.
Working with Arcline, ChargePoint will be able to further accelerate its product development pipeline, to empower it to deliver enhanced sterile & contained process solutions, as well as new innovations and technology platforms, to market faster than ever before.
Chris Eccles, CEO 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, said: “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.
About LDC www.ldc.co.uk/pressrelease
1. LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.
2. LDC has committed to invest £1.2bn in UK mid-market businesses over the next three years.
3. LDC has a portfolio of 90 businesses across the UK, across a broad range of sectors including Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
4. LDC has a nationwide network of regional offices to provide a local presence to the businesses and communities it supports.