Tait Walker Corporate Finance have helped David Jarvis, an experienced entrepreneur and pharmacist, along with fellow pharmacist Kevin Simpson to create one of the larger pharmacy groups in the North East of England.
David started to build his pharmacy empire in Teesside with locations at Southbank, Eastbourne Road and Grangetown – Middlesbrough- in the early 90’s.
A strategic acquisitive growth phase first began in January 2010 with the acquisition of Frank Jones (Chemist) Limited which operated two pharmacies in Houghton-le-Spring, County Durham.
This acquisition allowed management to expand their operations and using their combined experience to introduce best practice across their pharmacies and leverage economies of scale through increased buying power.
This growth has continued with a further four transactions which has grown the combined turnover to over £9m.
In 2015 they acquired the trade and assets of A.C. Moule & Co, another Middlesbrough pharmacy, which due to its locality and regular customers specialises in substance misuse services.
In 2016 they acquired SKV Limited which operates a pharmacy at Whale Hill also in Middlesbrough.
In May 2017, Britton and Robson Limited was added to the group. This Pharmacy is located in Willington, Co Durham.
A further acquisition is planned for later this year.
Throughout all the transactions of recent years David Jarvis has been supported by Tait Walker, Archers Law LLP and Lloyds Bank plc.
Steve Plaskitt, Corporate Finance Partner at Tait Walker said “We have a great relationship with Kevin and David and a great team at Tait Walker that have helped structure all the deals, assist with negotiations and valuations and undertake detailed due diligence reviews to make sure the deals go smoothly. We have developed a deep relationship with David and Kevin, which is further strengthened by our understanding of their ambitions and the industry.”
Kevin Simpson agrees ” David Jarvis has a vision to see locally owned and operated independent Pharmacies prosper in a climate of ever increasing competition from national multiples and regional groups. We continue to rely on the support of our ‘acquisition team’ in translating this vision into reality.”