Tyrone brothers invest in online pharmacy firm
Two Cookstown brothers and businessmen are investing a seven figure sum in an a fast growing online pharmacy business based in England.
Brothers Brian and Kieran McCracken run the award winning BA Components at Derryloran Industrial Estate in Cookstown.
HannawayCA Corporate Finance facilitated the Cookstown firm’s multimillion pound investment in Assured Pharmacy Ltd which specialises in treatments for men’s “embararrassing health” conditions, such as erectile dysfunction and hair loss.
In just four years Assured has grown from a start-up to an established company with annual pre-tax profits of circa £2m by concentrating on digital marketing and customer retention.
The business is poised to sustain growth under the passionate direction of managing director Robbie Toan, coincidentally also from Cookstown, and aims to become the UK market leader in the online pharmacy sector.
At the centre of the investment is HannawayCA Corporate Finance, with John Hannaway bringing both parties together last week to complete the deal.
Mr Hannaway, previously a PwC partner for 25 years and a former President of the Institute of Chartered Accountants in Ireland, has worked closely with Brian and Kieran and with Assured Pharmacy MD, Robbie Toan, for the last 10 years - making him the perfect liaison for this lucrative investment opportunity. Besides Mr Hannaway’s well-established professional friendship with Robbie Toan and the McCracken brothers, HCA Corporate Finance has had a star-studded last 18 months.
The company won Northern Ireland’s dealmaker of the year in 2018 in the largest deal category, while its managing director, Iain Lees, was individually shortlisted for dealmaker of the year, in 2017.
The company’s long-standing success made the decision by Robbie Toan to engage HCA as the broker for this deal a no brainer.
Mr Toan said: “We wish to thank John Hannaway and Iain Lees for their creativity and energy to bring together this deal and stamina to see it through to the end; without their contacts in the business community in Northern Ireland this investment deal would not have been possible.”