A Liverpool-based specialist manufacturer has secured new backing from a US private equity firm in a deal which provides an exit for LDC.
ChargePoint Technology has received new investment from Arcline Investment Management in an undisclosed deal.
The move follows a four-year partnership with LDC that saw ChargePoint develop new products and pursue a successful international expansion strategy, accelerating global sales.
Over that time, its revenue increased approximately 30%.
ChargePoint, which also has a US base in New Jersey, manufactures and delivers enhanced sterile and contained process solutions to companies across Europe, Asia and North America.
LDC first backed ChargePoint chief executive Chris Eccles in 2017, providing investment to help the business to capitalise on growing international demand for its products.
Working with Arcline, ChargePoint will be able to further accelerate its product development pipeline.
Mr Eccles 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.
Adam Sivner, director at GCA Altium, said: "We are delighted to have advised Arcline on the acquisition of ChargePoint.
"This is the second time GCA Altium has advised on the acquisition of the business, having previously advised LDC in 2016.
"ChargePoint is a world leader in containment solutions for the pharma and biopharma sectors and they have found an excellent partner in Arcline.
"Utilising the private equity relationships of our US offices, this transaction is indicative of the power of GCA Altium’s global platform."
