UNW advises drug wholesaler in crucial finance raising
Dealexperts at business advisers and chartered accountants UNW
have assisted a Northumberland pharmaceutical wholesaler to secure
a six-figure funding boost to grow its business and create 25
UNW's corporate finance team advised the
highly experienced shareholders of Cramlington-based PMC
Pharmaceuticals Limited in securing the finance round from the
North East Growth Plus Fund managed by FW Capital.
PMC Pharmaceuticals, which is run by two equal
shareholders, will use the cash injection as working and growth
capital to allow it to begin wholesaling drugs from its warehousing
facilities on South Nelson Industrial Estate.
Paul McCourt and Paul Healey, who between them
have over 30 years' experience in the pharmaceutical sector,
approached UNW to help it secure the crucial investment following
the successful receipt of the necessary licences and permits.
UNW senior corporate finance manager Mark
Simpson, who worked on the deal with executive Leon Cassidy, said:
“This massively experienced management team has used UNW in the
past for various financing, acquisitions and tax advice in relation
to previous companies and they approached us to help them with this
recently established business.
“We produced a financial model and approached
various potential funders that we highlighted as relevant from our
extensive network. Once we had received offers of funding we
selected FW Capital as their team demonstrated a good knowledge of
the sector, which meant they understood this business really well
and they structured investment to facilitate our growths plans.
“We are delighted to have been able to
successfully advise the directors once again and look forward to
watching the business grow into a successful wholesaling
PMC Pharmaceuticals Sales Director Paul
McCourt said: “Securing this level of funding has enabled us to
commence trading with state-of-the-art software and distribution
“We expect to create 25 jobs in the next
couple of years and deliver a level of service to our customers
that will make us their automatic first choice regional
FW Capital senior investment executive Michael
Vassallo said: “The pharmaceutical sector is growing strongly
year-on-year and PMC Pharmaceuticals has set up its wholesale
business to capitalise on this.
“The company’s experienced management team has
a proven track record in the sector and FW Capital’s investment has
provided them with the working capital to set up the operation and
fund their stock costs. We were pleased to work with PMC
Pharmaceuticals and their advisers, UNW to complete this deal
within tight time scales.”