- Santander UK has provided Ennogen Healthcare International, a growing UK based pharmaceuticals manufacturer with a £30 million loan facility to support its international expansion plans
Santander UK is helping pharmaceuticals manufacturer Ennogen to build on its high growth international strategy with a £30 million approved funding facility.
Established in 2011, Ennogen is a pharmaceutical and healthcare company focused on three key therapeutic areas: dermatology, respiratory and pain relief, predominantly targeting those with chronic conditions.
The loan package provided by Santander will ensure that the company’s rapid growth is adequately supported as it will allow them to continue to invest in purchasing bolt-on pharmaceutical products in complementary therapeutic areas and target future acquisitions. The £30 million approved funding facility also has the capability to be extended to £50 million, subject to future approval, with Ennogen looking at international expansion opportunities.
Ennogen’s growth to date has been funded through cashflow and shareholder injections. The loan facility provided by Santander will provide the business a flexible approach to the company’s growth strategy.
Based in Dartford with a regional office in Northwich, Cheshire. The company has grown both organically and via acquisitions to build an extensive portfolio of products in recent years, now employing more than fifty members of staff.
Jason Tate, Chief Financial Officer at Ennogensaid: “Santander quickly understood our business and came up with an innovative and flexible approach to meet our acquisition and product development needs. With offices and specialism in key locations around the world, Santander are best placed to support our international expansion strategy.
“Working with both the team in Manchester and Liverpool, it is clear they have a strong knowledge of the pharmaceutical and healthcare industry.”
Sarah Laverty, Structured Finance Director at Santander UK, said: “We are delighted to support Ennogen with this new £30m facility, which will help deliver their acquisition plans. The business has a strong management team and clearly articulated strategy, which is exactly the type of business Santander looks to support.”
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For information about Ennogen, please visit: https://ennogen.com/