Co-op Bank supports ChargePoint Technology mbo

ChargePoint Technology, the solids handling containment specialist based in Liverpool, UK, has been purchased from its previous owner Powder Systems Limited (PSL) in a management buyout.

ChargePoint Technology, the solids handling containment specialist based in Liverpool, UK, has been purchased from its previous owner Powder Systems Limited (PSL) in a management buyout.

The transaction was supported by a £1m loan from The Co-operative Bank, which will enable the new company, to be called ChargePoint Technology Ltd, to expand into new markets.

"This deal is the start of an exciting new chapter in the development of the company and we wish Chris and his team the best in all their future projects," said Dave Matthews, senior business development manager at The Co-operative Bank's Liverpool Corporate Banking Centre.

ChargePoint manufactures highly engineered valves used in the Pharma and biotech industries for the contained transfer of potent compounds. It will move this week to new offices at Venture Point West in Liverpool, next to Novartis, Eli Lilly and the National Biomanufacturing Centre.

Chris Eccles will continue as managing director of ChargePoint Technology, alongside sales director David Potter and engineering director Richard Barton.

The company employs 20 people, including two new recruits, Darren Garvey from Howorth Airtech and John Murphy from Oystar Manesty. Garvey will be responsible for setting up ChargePoint's new US office based in New Jersey.

"Since developing the ChargePoint valve the company has gone from strength to strength, and, despite the current financial crisis, we are continuing to grow and expand. We continue to export over 75% of our production in a competitive global market," said Eccles.

The company has seen sales growth in its DL range of valves and has an r&d programme in place that will see the product range expand over the next three years. Growth is expected to come from India, China and the US. The company also plans in the future to launch products to satisfy new aseptic applications.

Companies