“The company approached us earlier this year to secure working capital to fund further growth,” explained managing director Paul Goodman.
“We discussed their needs and what they were now looking to achieve, as well as why their current funding wasn’t working for them.”
EM Pharma had previously won a place on the Sunday Times Fast Track 100 after increasing turnover from £1.8m in 2008 to £6.5m in 2011.
“As specialists in providing flexible asset based finance solutions, we were able to develop a range of options and take them to our panel of potential funders. We came up with the best deal through commercial finance provider GE Capital,” added Paul.
EM Pharma will now use the new asset-based facility to free up liquidity and help with further sales growth.
Finance director Peter Newbold said: “GE Capital’s ability to provide an inventory funding line alongside a receivables facility gives us the working capital we need to really start our next phase of growth.”
EM Pharma provides consumer healthcare products, working closely with customers including Tesco, Sainsbury’s, Asda, Boots and Superdrug. They sell its eye care, hay fever and pregnancy testing products, among others, under their own brands.
GE Capital UK regional director Barry Lee added: “EM Pharma’s growth in recent years has been impressive, and we’re pleased to be able to help contribute to continued growth. We look forward to working closely with the team to open up new opportunities and take the company to the next level.”
“With our simple application process and market expertise in tailoring finance solutions for individual business needs, Goodman can work with all small and medium sized enterprises,” said Paul.
“That may be through asset finance, commercial mortgages, investment mortgages, development finance, invoice finance, short term finance, the enterprise finance guarantee scheme and all status lending products.”