Arcline Buys First Fund II Platform

Arcline Investment Management has acquired ChargePoint Technology from UK mid-market private equity firm LDC.

ChargePoint manufactures and supplies containment and sterile transfer valves that are used to handle highly potent active pharmaceutical ingredients (HPAPIs) and sterile drug products by pharmaceutical and chemicals companies that manufacture medicines and vaccines.

ChargePoint’s products include multi-use and single-use split butterfly valves, charge bottles and bags, and spare parts that are sold under the brand names PharmaSafe, AseptiSafe, ChargeBag, and SingleUse.

Split butterfly valves, also known as containment valves, are used to safely transfer material from one container or process vessel to another while minimizing the levels of dust emitted into the operating environment before, during and after the material transfer.

ChargePoint is led by CEO Chris Eccles and is headquartered near Liverpool in Speke, United Kingdom.

“We are excited to partner with Arcline, a firm that shares our passion for providing our customers with safer containment and sterile transfer technologies, which are critical to the future of medicine,” said Mr. Eccles. “We look forward to expanding our critical role in pharmaceutical manufacturing and bioprocessing as we invest in our next phase of growth.”

Last month, Arcline closed its second fund, Arcline Capital Partners II LP, with total capital commitments of $2.75 billion. The buy of ChargePoint is Arcline’s first investment for its new fund and is expected to be the first of several acquisitions made by Arcline as it pursues a strategy to build a specialty process technologies platform focused on the pharmaceutical and biopharmaceutical markets.

“ChargePoint supports the production of life-saving therapies by providing best-in-class containment and aseptic transfer technologies to pharmaceutical and biopharmaceutical companies,” said Arcline in a released statement. “Specifically, the company’s products provide industry-leading solutions for handling highly potent active pharmaceutical ingredients and sterile drug products across the most demanding drug manufacturing applications in the areas of oncology, diabetes, and other highly toxic therapies.  We are committed to supporting ChargePoint in its next phase of growth through investments in product development, go-to-market capabilities, and add-on acquisitions.”

Arcline makes control investments in companies that have from $10 million to $100 million of EBITDA and enterprise values of up to $1 billion. Sectors of interest include defense and aerospace; infrastructure services; industrial and medical technology; life sciences and specialty materials. Arcline was founded in September 2018 and has offices in San Francisco and New York.

LDC (Lloyds Development Capital) acquired ChargePoint in January 2017. The firm invests up to £100 million of capital in companies that have at least £5 million of revenue and £1 million of EBITDA. LDC is a subsidiary of Lloyds Banking Group and is headquartered in London.

© 2021 Private Equity Professional | March 2, 2021

Print Friendly, PDF & Email