Newspaper article The Journal (Newcastle, England)

Expansion of Pharmacy Group; FINANCE

Newspaper article The Journal (Newcastle, England)

Expansion of Pharmacy Group; FINANCE

Article excerpt


MIDDLESBROUGH-BASED pharmacy group Knightingales Ltd has expanded with the acquisition of a third outlet.

Dealmakers from Tait Walker's corporate finance team and Teesside's Archers Law helped the business' joint owners David Jarvis and Kevin Simpson to secure funding from Lloyds Bank for the purchase of A C Moule and Co on Middlesbrough's Parliament Road.

Tait Walker's Steve Plaskitt led the team who provided a business plan for the funders and prepared forecasts, while David Adams and the business team at Archers Law handled legal proceedings.

Mr Plaskitt, a corporate finance partner at Tait Walker said: "We're really pleased with how this deal went.

"Following detailed analysis of the pharmacy and financials, the deal was completed on schedule, the final valuation was as expected and all legal processes went smoothly.

"We're really happy this has gone so well for David and Kevin. This will mean that Knightingales can continue with their expansion plans.

"We regularly work with SME's and we're proud of the support we give them in the North East, it's a sector we will continue to back."

Kevin Simpson, co-owner of the pharmacy business, said: "Knightingale's has had a long-standing business relationship with Tait Walker. …

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