Sinclair IS Pharma wins funding for future growth
Agrees new £23.6m banking facility with Clydesdale Bank
Sinclair IS Pharma, a pan-European specialist pharmaceutical company formed in 2011 after the merger of Sinclair Pharma and IS Pharma, has agreed a new £23.6m banking facility with Clydesdale Bank, which will fund future growth.
The arrangement, which is made up of a £22.6m loan and £1m credit facility, will be used to refinance the company’s existing debt and provide additional capital of £9m to support future acquisitions.
Sinclair IS Pharma has corporate and operational headquarters in London and Paris as well as sales offices across Europe, and supplies dermatologists, pharmacies, hospitals and plastic surgeons in the UK, France, Italy, Germany and Spain. It also supplies customers globally through an international distributor network covering developed and emerging markets.
Alan Olby, chief financial officer at Sinclair IS Pharma, said: ‘Our growth strategy involves further acquisitions as well as organic growth in our key markets. The company has experienced significant growth recently and this new banking facility provides us with greater flexibility to pursue new opportunities as we drive forward the business’ growth agenda.’
