Ennogen Healthcare, an international pharmaceutical and healthcare manufacturer and distributor, has secured a £150 million syndicated loan facility to support its further international expansion and innovation strategy.
The facility, agreed with a syndicate of high street banks comprising Santander UK, Barclays and HSBC UK, runs for a three-year term and consists of a £50 million term loan facility and a £100 million revolving credit facility. The agreement includes an option to extend for a further year.
Commercial law firm Hill Dickinson advised Ennogen throughout the transaction, led by partner and head of the firm’s banking team, Richard Capper, supported by legal director Rebecca Layton and associate, Belle Cottle.
We’re thrilled to have supported Ennogen on this milestone transaction. It’s been a remarkable journey watching their impressive growth over the past five years and we’re grateful to have played a part in it. Huge congratulations to John, Jason and the entire Ennogen team, we’re looking forward to seeing what the next five years will bring.Richard Capper
Head of Banking
Richard Capper, head of banking at Hill Dickinson LLP, said: “We’re thrilled to have supported Ennogen on this milestone transaction. It’s been a remarkable journey watching their impressive growth over the past five years and we’re grateful to have played a part in it. Huge congratulations to John, Jason and the entire Ennogen team, we’re looking forward to seeing what the next five years will bring.”
Established in 2011 Ennogen Healthcare reinvigorates heritage brands to meet underserved clinical need and currently has operations in the UK, Europe and the Middle East. The company operates across five key therapeutic areas: dermatology, respiratory, otology, blood pressure and pain relief - predominantly supporting patients with chronic conditions.
Through strategic acquisitions, Ennogen has built an extensive portfolio of products and now employs more than 70 members of staff. The new loan facility will enable it to invest in the further acquisition of pharmaceutical products in complementary therapeutic areas, expanding internationally and developing its innovation pipeline further.
Under the terms of the loan facility:
Santander UK will continue to support with Ennogen’s primary banking operations in the UK and Europe.
Barclays will act as facility and security agent while also continuing to support local banking operations in Dubai and Ireland.
HSBC brings additional expertise, particularly in managing larger foreign exchange transactions.