ChargePoint Acquires Assets of Forac
ChargePoint Technology, a UK-based manufacturer that supplies precision containment valves to some of the world’s largest pharmaceutical and chemicals businesses, has acquired the assets of Forac Ltd, a key business in its supply chain.
The deal sees ChargePoint secure access to a market leading component — a compact but powerful pneumatic actuator. It is used to open and close the isolation valves that feature in production processes used by the pharma, food and fuel industries.
The financial terms were not disclosed but Forac, whose customers include Honeywell, Bosch and GEA Group, will relocate its plant and stock from a base in Shoreham-by-Sea, West Sussex to ChargePoint’s manufacturing plant in Speke, Merseyside.
Forac’s founder and Managing Director Adam Bunyard has joined ChargePoint as part of the deal.
Chris Eccles, Managing Director at ChargePoint Technology, commented: “The Forac deal is strategically important for our business and will keep us on track for our ambitious growth targets in global markets. Forac’s actuators are a key component in our containment valves and we know well the quality of the product. It’s only a small component — in terms of what we produce — but it’s best-in-class.”
ChargePoint’s customers are the big pharma manufacturing companies, producing medicines in the US, Europe and Asia. Its containment valves enable the safe and sterile handling of any powders used in the manufacturing process; for example, when making drugs in tablet form. The valves allow for a safe means of transferring powders from one vessel to another during the production process. By minimising dust emissions, they are specified to prevent cross-contamination and protect operators from exposure to potent substances.
Originally developed in 1996 in conjunction with GlaxoSmithKline, ChargePoint valves are now used by almost every major pharmaceutical manufacturer globally and increasingly in other industries such as chemical, bio-pharmaceutical, food manufacture and consumer goods. Customers include GSK, Pfizer, Henkel, DuPont, INEOS, Johnson & Johnson, Eli Lilly and Sanofi Aventis. It has offices in New Jersey, US and Hong Kong .
Chris Eccles, Managing Director, added: “We are on course to push our turnover beyond the £10 million mark and to have a corresponding increase in the size of our team. It’s not going to happen overnight but the Forac deal and other plans we have in progress are steps along the road.”
Related News
-
News Patients vs Pharma – who will the Inflation Reduction Act affect the most?
The Inflation Reduction Act brought in by the Biden administration in 2022 aims to give better and more equitable access to healthcare in the USA. However, pharma companies are now concerned about the other potential costs of such legislation. -
News CPHI Podcast Series: What does the changing US Pharma market mean for industry and patients alike?
In this week's episode of the CPHI Podcast Series Lucy Chard, Digital Editor for CPHI Online is joined by James Manser to discuss the political and market changes in the US pharma field. -
News CPHI Barcelona Annual Report illuminates industry trends for 2024
The CPHI Annual Survey comes into it’s 7th year to report on the predicted trends for 2024. Over 250 pharma executives were asked 35 questions, with their answers informing the industry landscape for the next year, spanning all major pharma marke... -
News Which 10 drugs are open to price negotiation with Medicare in the USA?
The Centres for Medicare & Medicaid Services, under the Biden administration in the USA, has released a list of the 10 drugs that will be open to price negotiations as part of the new legislation under the Inflation Reduction Act (IRA). -
News EU Medical Devices Regulation causes unintended disappearances of medical devices for children, doctors state
Doctor groups and associations have appealed to the EU to correct the EU Medical Devices Regulation law that may cause unintended shortages of essential drug and medical devices for children and rare disease patients. -
News 10 Major Drug Approvals So Far in 2023
Last year, 37 novel drugs were approved by the FDA, this was a high number for such a category, and covered many fields including oncology, demonstrating how promising further research is, and how it is only continuing to build. To date, there are alre... -
News Detecting Alzheimer's disease with a simple lateral flow test
A novel rapid diagnostic test for early-stage Alzheimer's disease has been developed using a biomarker binder from Aptamer Group along with technology from Neuro-Bio, the neurodegenerative disease experts. -
News CPHI Podcast Series: outsourcing and manufacturing trends
Listen to the CPHI Podcast Series this June to hear Gil Roth of the PBOA speak with Digital Editor Lucy Chard about the biggest trends and topics to watch in pharma outsourcing and manufacturing at the minute.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance