LDC backs TMC Pharma Services with growth investment

• TMC has more than doubled its revenues in the past five years to £11.8 million in 2021
• LDC’s investment is aimed to let TMC expand further in the US and Asia
• TMC plans to double the number of its full-time employees over the next five years as well as opening new offices in key international markets

LDC has invested £18 million in TMC Pharma Services, a global pharmaceutical development organisation that specialises in innovative treatments for rare diseases and oncology.

TMC is headquartered in Hook, England and was founded in 2001. It operates globally across four offices and hubs in the UK, Ireland, Japan and the US. The business has more than doubled its revenues over the past five years to £11.8 million (€13.9 million, $13.9 million) in 2021. TMC aims to utilise LDC’s investment to expand into the US and Asian markets and in the next five years plans to double its number of full-time employees.

“TMC has built a market-leading reputation in the healthcare sector,” said Stefan Gunn, investment director in LDC’s South West team. ”We’re looking forward to helping the team to build on this momentum in the UK and overseas.”

“Our unique business model has worked outstandingly well over the last 20 years, including navigating a challenging covid period successfully,” said Julie Matthews, CEO at TMC Pharma Services. “We have been delighted to help many clients to bring valuable treatments to patients, especially those with rare and orphan diseases with few therapy options. Now, with LDC’s support we are entering an exciting next phase, where we will further strengthen our team, and expand our global reach, for the benefit of patients with unmet medical needs, our clients and for our staff and associates.”

LDC is the private equity arm of Lloyds Banking Group and is based in London. It has a portfolio of 90 businesses across the UK and invests across sectors including construction and property, financial services, industrials, retail and consumer, financial services, TMT, travel and leisure, and support services. It has pledged to back at least 100 new mid-market companies over the next five years.

LDC’s investment in TMC follows its investment in Bristol-based cake manufacturer Cakesmith in March. It also exited from Bristol-based documentary maker Plimsoll Productions in a £131 million deal with London-based ITV in June.