Converse Pharmaceuticals

Converse Pharma Group secures £60m combined facility

RBS and Secure Trust Bank Commercial Finance have provided a £60m combined facility to pharmaceutical wholesaler Converse Pharma Group.

The firm employs 980 members of staff across its 12 sites in the UK and Ireland and will use the funding to invest in new, larger depots which will increase the depth and range of its stock holding.

Converse Pharma Group also plans to open more satellite distribution centres across the country and recently revealed plans to open a new depot in Runcorn, Cheshire.

“Our aim is to be in close proximity to all our customers across the country, and the key to that is expanding geographically,” said David Horry, CEO at Converse Pharmaceuticals (pictured above, left).

“Secure Trust Bank and RBS shared our vision and enthusiasm for the Converse Pharma group, and with their support, we are capable of executing our ambitious expansion plans.”

Paul Goodchild, director at Secure Trust Bank Commercial Finance, added: “We have been aware of the success and sustained growth trajectory of Converse for some time.

“Working alongside RBS, we are able to provide a facility that will enable the next stage of the company’s development.”

Andrew Barraclough, head of asset-based lending in the North and Scotland at RBS (right), described Converse Pharma Group as a “terrific business with key community focus” and believed the firm was making “great strides” in delivering medicines in the UK.

Also pictured (l-r): Mark Guildford and Andy Wilson of Converse Pharmaceuticals

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