Pharma company sets sail for global markets with government-backed finance

GMP Manufacturing, a Hull-based pharmaceutical manufacturer, has secured over £500,000 in funding support from White Oak UK, a non-bank specialist in SME financing.

The funding was backed by UK Export Finance (UKEF) – the government’s export credit agency.

It has enabled the company to meet growing international demand, while continuing to expand its UK operations.

The financing from White Oak was supported by UKEF’s General Export Facility (GEF) – a finance guarantee designed to boost export capabilities for SMEs.

Established in 2018 on the former Seven Seas site in east Hull, GMPM’s workforce has grown by over 40 per cent in eight years, with roles ranging from apprenticeships to senior leadership.

The company manufactures a range of medical products on behalf of clients in the UK, Europe and Australia, while also developing and supplying items under its own brand, including Aseptic, an alcohol-free sanitiser effective against influenza and COVID-19.

Access to finance with support from White Oak and UKEF has been instrumental in accelerating GMPM’s growth.

Looking ahead, GMPM said it plans to increase its workforce by a further 20 per cent, as it seeks to expand into African markets.

The company is also extending its research and development capabilities and investing in new manufacturing technologies, including 3D printing platforms for personalised medicines.

Chris Bryant, Minister for Trade, said: “It’s fantastic to see a business like GMPM thrive, creating jobs and driving economic growth in Yorkshire as well as revitalising a local plant.

“We are a pro-business government and will continue to back businesses to scale-up, helping innovative firms like GMPM to export their products across the globe.”

Manuel Fantin, export finance manager for South Yorkshire at UKEF, said: “GMPM’s story should inspire many SMEs, who need the motivation to take the next step in their business.

“From taking an east Hull plant that closed after 80 years of history, bringing it back to life with 30 employees, and now, more than doubling in size in under a decade, GMPM’s trajectory of growth is only going up and we look forward to continuing to work with our partners at White Oak to see them succeed even further in both scale and global capability.”

Giby George, CEO at GMPM, said: “Support from UKEF and White Oak has played a pivotal role in accelerating our growth.

“We are proud to be investing in advanced manufacturing capacity in Hull, creating high-quality jobs and career opportunities at every level, from apprenticeships and technical training to senior leadership positions, while strengthening the UK’s pharmaceutical manufacturing capability.”

Andy Davies, managing director at White Oak UK, added: “Our support for GMP Manufacturing demonstrates our commitment to providing growth capital to innovative UK businesses, wherever they are based.

“GMPM’s story is a compelling example of what British SMEs can achieve with the right financial backing – from a single site in Hull to supplying markets across Europe and Australia.

“We’re proud to work alongside UK Export Finance to help businesses like GMP Manufacturing unlock their full export potential and create quality jobs across the UK.”