Liverpool’s OBG Pharmaceuticals targets acquisitive growth with £27.3m funding

Merseyside manufacturer OBG Pharmaceuticals has secured a multi-million pound funding deal with HSBC to unlock the next phase of its three-year growth plan.

The £27.3m refinance and acquisition funding package will support the Liverpool-based firm’s acquisition of Richard Baker Harrison, a distributer of minerals and chemicals based in Newcastle-under-Lyme, Staffordshire.

OBG Pharmaceuticals is a privately owned business operating subsidiaries that provide products and services to the pharma, chemical and industrial additives industries, both in the UK and overseas.

OBG Pharmaceuticals’ group finance director, Philip Didlick, commented: “Our philosophy is to unlock potential and profit through enabling entrepreneurial spirit in science-led markets.

“Our new partnership with HSBC provides us with the backing and confidence to move quickly to acquire similarly minded-businesses to help us achieve our growth plans.”

HSBC relationship director Mark Rowan, who works at the bank’s Liverpool Corporate Centre, led on the deal.

The head of corporate banking for HSBC in Liverpool and Cheshire, Tony Fulton, said: “This significant funding package provides OBG’s management team with the financial foundations they need to realise their strategic growth plans.

“OBG is an ambitious business led by an experienced team and we really are looking forward to seeing the business continue its rapid growth.”

HSBC was advised by law firm Addleshaw Goddard. Hill Dickinson and Mischon de Reya acted for Liverpool-based OBG.