Sauflon Pharmaceuticals, a UK manufacturer of contact lenses and aftercare products, has negotiated a £55m borrowing facility with Barclays and RBS.
The two banks restructured existing borrowings from other financial institutions to provide the five year facility to support Saulfon’s growth.
The move will enable the Twickenham-based company to expand its manufacturing facility in Budapest, Hungary, which operates alongside its two UK plants in Hampshire and Kent.
John Maynard, group finance director at, Sauflon Pharmaceuticals, said the facility will open up a new range of possibilities for the company.
“The facility will enable us to drive forward our strategy of investing in our manufacturing site in Budapest and support continued leading edge research and development in the field of contact lenses and aftercare products,” he said.
“I would like to express my grateful thanks to both teams at Barclays and RBS for their knowledge of our sector and for putting this facility in place.”
Richard Bacon, relationship director at Barclays, added: “Sauflon is a fast growing UK privately owned business that focuses on leading technology.
“We originally supported the shareholders in the management buy-out of the business in 1985 and since then have seen the company grow significantly to the worldwide innovator, manufacturer and employer it is today.”