Enterprise Ventures backs ChargePoint with £1.625m

The deal comprises both equity and debt with a £725,000 commitment from the Coalfields Funds and the remainder provided in mezzanine debt from The North West Fund for Mezzanine.

The mezzanine vehicle launched earlier this year and invests £750,000-2m in established businesses. It is part of the £155m North West Fund, funded by the European Regional Development Fund and the European Investment Bank.

ChargePoint is to create more than 15 new jobs following the investment.

Company
Founded in 1996 and based in Merseyside, ChargePoint manufactures precision containment valves to the pharmaceutical and chemical sectors. Customers include GlaxoSmithKline, Pfizer and Johnson & Johnson.

The comapny manufactures precision split butterfly valves, which enable the accurate and safe transfer of powders from one vessel to another during the production process. The valves are designed to minimise dust emissions to prevent cross-contamination and protect users from exposure to potent substances.

The valves were originally developed in 1996 in conjunction with global corporate GlaxoSmithKline, and are now used widely across the pharmaceutical sector.

ChargePoint employs 45 staff at its manufacturing facility in Speke, Liverpool. The firm exports around 80% of its products.

People
Stewart McCombe manages the North West Fund for Mezzanine at Enterprise Ventures.

Advisers
Management – Clearwater Corporate Finance, Paul Jones, Constantine Biller, John Davies (Corporate finance); Linder Myers Solicitors (Legal); Grant Thornton (Tax).
Equity – Ward Hadaway (Legal); Langtons Corporate Finance (Financial due diligence).

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