Partner Article

APCER agrees £6m facility with Clydesdale Bank

Leading clinical safety operator APCER Life Sciences has agreed a new £6 million facility with Clydesdale Bank which will support the firm’s plans for further expansion.

The London-based company, which employs over 400 people globally and has subsidiaries in the US, India and Hong Kong, specialises in outsourced pharmacovigilance, medical affairs and regulatory services. Its clients include leading multi-national pharmaceutical companies.

Clydesdale Bank has provided a £6.3 million funding package including term debt and invoice finance facilities which will be used to fund future growth and working capital.

The transaction was supported by Conor McNamara, Director, Specialist & Acquisition Finance, at the Bank’s London Business and Private Banking Centre.

T. Gopal Menon, Vice Chairman of APC Group, APCER’s parent, said: “Our intention in APCER in the coming year is to invest in our platform particularly in technology, to deepen and widen the presence we have in our existing markets, and to grow the base that we have established in Asia.

“That objective will be assisted by the support which Clydesdale Bank is providing. The Bank were able to structure a facilities package which was in line with some quite specific requirements that we had.articulated at the outset. It has been a very positive experience dealing with their team, who have demonstrated a real understanding of our sector and our business strategy.”

Conor McNamara, Director, Specialist & Acquisition Finance at Clydesdale Bank, said: “We have been able to deliver a flexible package of support for Gopal and his management team which fully integrates our senior debt and invoice finance offering and which meets the needs of the business at this important phase in its development.”

This was posted in Bdaily's Members' News section by Gregor Cunningham .