Gambit Corporate Finance has acted as lead financial advisor to Creo Medical Group Plc (AIM: CREO) (“the Company” or “Creo”) in securing a multi-million pound commercial mortgage from Barclays for its Chepstow HQ.
Creo is a medical device company focused on the development and commercialisation of minimally invasive electrosurgical devices, bringing advanced energy to endoscopy. The Company’s vision is to improve patient outcomes through a suite of electrosurgical medical devices, each enabled by its CROMA Advanced Energy Platform, powered by Kamaptive. Creo’s leading device, Speedboat Inject, is being used by clinicians around to the world to treat a number of conditions in the GI tract, with further devices at various stages of development and commercialisation.
The funding will be used to expand the Company’s current operating facilities, following the multi-million pound acquisition of Creo House and its adjacent site in July 2021. The additional space will accommodate a rising number of employees, increased commercial activity and manufacturing capacity, underpinned by the two acquisitions undertaken in 2020 and general corporate purposes.
The Gambit team was lead by Jason Evans, (Partner & Head of Debt Advisory), Sam Forman (Director), Nick Gallagher (Executive) and Harrie Thorrington (Executive). Gambit were responsible for identifying and approaching selected funders, negotiating the terms and project managing the transaction through to completion.
Jason Evans commented:
“We are delighted to have advised the Creo team on the funding package. The business is expecting significant growth in the coming years and we are excited to witness Creo’s continued innovation and development of alternative clinical technologies.”
Creo Medical CFO, Richard Rees said:
“It was a pleasure to work alongside Jason and the Gambit team on this package – which will allow us to ensure we have a Chepstow HQ which is fit for the global business we have quickly become and support future growth.”
The Barclays Bank team was led by Simon Vittle