FW Capital investment and Let’s Grow grant is the right funding formula for Rokshaw’s growth
A Sunderland-based specialist pharmaceutical company is
expanding with the backing of a £350,000 mezzanine debt investment
from the North East Growth Plus Fund managed by FW Capital and a
£75,000 Let’s Grow grant.
Rokshaw, which was founded in 2012 by two brothers, Richard and
Jonathan Hodgson, supplies specially formulated medicines
(specials) to doctors, hospital trusts, pharmacies and
pharmaceutical wholesalers throughout the United Kingdom.
The company has built up an impressive customer base in the UK
since 2012 and is now one of the largest providers of specials to
independent pharmacies in the North East, the UK region with the
highest demand for prescriptions of specials.
With the backing of the funding package, Rokshaw will increase
control of its manufacturing, setting up its own 6,000 Sq.ft.
laboratory and production facility and the funding will help with
the costs of the additional Home Office and Medicines and
Healthcare Products Regulatory Agency licences it will need before
it can start manufacturing.
It will also enable the company to recruit at least 9 additional
qualified staff, including a production manager, pharmacists, a
quality control manager and technicians. Future sales success
is likely to see Rokshaw take on additional staff.
“Advances in medical science coupled with more personalised
medical care are increasing the demand for specially formulated
drugs or specials and there are no signs of demand slowing
down. Today drugs can be formulated to cope with patients’
allergies and other individual needs as well as for non-standard
“We’ve established a strong presence in the UK market, which is
our principal market. This funding package will enable us to
increase our control over our manufacturing and scale up our
business. We’ll then be able to focus on improving our
service and product quality and also increasing our market share by
securing more business from hospital trusts and independent
pharmacies,” explained Jonathan Hodgson, Business Development
Rokshaw operates in a competitive market where its customer
services and ethical pricing policy are key differentiators.
The company’s investment in manufacturing will also improve its
Commenting on FW Capital’s investment, Senior Investment
Executive, Michael Vassallo said: “Jonathan and Richard have
combined their sales and business management skills with their
considerable experience in the pharmaceutical sector to start up a
sustainable business with long-term potential. They’ve
impressed their many loyal customers by paying attention to key
aspects of their business, such as customer service and reliability
as well as product quality and patient safety.
“Rokshaw has a strong market position and is at a crucial point
in its development. FW Capital’s funding together with the
Let’s Grow grant has provided the funding boost they now need to
accelerate the company’s growth and extend its national