New product launches drive sales growth at ChargePoint

Liverpool-headquartered pharmaceutical manufacturer ChargePoint Technology (“ChargePoint”) has reported strong sales growth after a year of new product launches and international success.

The business reported five per cent growth in sales to £12.9m (2017: £12.3m) for the year for December 2018, driven by strong trading results in its UK, European and Indian markets.

It has also achieved several new contract wins in Canada, strengthening its presence further in the North American region.

ChargePoint manufactures high-performance containment and sterile transfer vales, and its patented technology is used by clients ranging from the world’s top pharmaceutical companies through to smaller, independent manufacturers.

The business was backed by private equity firm LDC in January 2017 and since then has made significant investment in research and development, as well as increasing manufacturing capacity at its plant in Liverpool through new equipment and technology. Over the past year, it has also grown its UK headcount by 15 per cent, increasing from 74 to 85 people.

Now the firm is focusing on the roll-out of its Verifi Platform, a new solution that enables customers to track the usage of their valves and plan in preventative maintenance.

Chris Eccles, CEO at ChargePoint, said: “This has been a great year for ChargePoint, building on the success of our AseptiSafe biovalve launch in 2017 and accelerating growth even further through the launch of Verifi and other new products. We have bolstered our reputation as one of the top global providers of contained transfer valves, working with leading pharma companies and manufacturers to deliver the most innovative and high-quality products to our clients.

“The continued support we received from LDC has been instrumental in allowing us to maintain growth, champion R&D and realise our global expansion ambitions. We have a number of exciting product developments in the pipeline, and look forward to evolving our offering even further throughout 2019.”

Ged Gould, Senior Director at LDC North West, added: “These results are testament to the ambition and drive of Chris and the team to invest in their product offering, and achieve excellent sales both in the UK and internationally. We’re excited to support the team in delivering their next phase of growth.”