In a strategic move, private equity firm NorthEdge has infused capital into Torbay Pharmaceuticals (Torbay), a leading sterile injectable contract manufacturer and license holder. This investment comes as Torbay transitions into its next phase of international growth, following its acquisition from Torbay and Devon NHS Foundation Trust.
Over the past six years, Torbay has experienced rapid growth, marked by a surge in demand for its commercial-scale sterile injectable fill/finish capabilities. Serving healthcare organizations and pharmaceutical companies in the UK and abroad, Torbay has become a key player in the industry.
NorthEdge's investment aims to empower Torbay, not only to fortify its capabilities but also to significantly expand its presence in North America. Simultaneously, Torbay remains committed to nurturing its 250-strong team at its UK headquarters in Paignton, Devon.
The North American market represents a strategic avenue for Torbay's commercial growth. The investment will support Torbay in expanding its team, automating inspection and packaging processes, and enhancing its plastic vial capabilities. These measures ensure Torbay's preparedness to meet evolving regulatory standards in both the US and Europe. Additionally, Torbay has made strides by investing in a new high-speed filling line, a move geared toward accommodating the growth of its customer base.
CEO Emma Rooth, along with a seasoned management team, receives NorthEdge's vote of confidence as they embark on an ambitious growth plan. NorthEdge, a prominent regional private equity firm, known for its commitment to responsible investing, has a history of fostering the potential of national and international businesses in the UK regions.
The investment, spearheaded by NorthEdge Fund III and led by key figures such as Ray Stenton, Andrew Skinner, Allan Dunn, Mani Minhas, Mike Craven, and Alex Griffiths, brings Ray Stenton and Allan Dunn onto Torbay's board. To further enhance governance, Jonathan Glenn and Guy Topping have been appointed as Non-Executive Chair and Non-Executive Director, respectively. Their wealth of experience positions them well to support Torbay Pharmaceuticals in achieving sustainable and long-term growth within the contract manufacturing landscape.
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