Aesica plans growth in Asia backed by equity investment
New equity investor Silverfleet Capital replaces LDC as the firm’s long-term partner
Aesica, a UK supplier of APIs, formulated products and custom synthesis solutions, has announced plans for further growth and expansion following ‘significant’ investment from Silverfleet Capital, a European private equity firm.
Further financial details have not been revealed.
Subject to regulatory clearance from the German authorities, which is expected within the next month, Silverfleet Capital has agreed to invest in the Newcastle, UK-based firm and members of the Aesica executive have reinvested for a ‘large minority stake’ in the company.
Aesica says the investment will enable it to continue its expansion into new markets and achieve its vision of becoming a leading supplier to the global pharmaceutical industry. With six manufacturing sites across Europe and sales representation across the US, Europe and Asia, Aesica plans to build on the success of 2011, which has resulted in forecasted turnover of €180m and extend its current capabilities and global manufacturing facilities.
Silverfleet replaces LDC as Aesica's long-term partner. Since its original investment in 2004 LDC has provided management with financial and strategic support to implement its expansion plan, which has focused on enhancing Aesica's manufacturing capabilities, developing new services, adding new products and increasing its presence in international growth markets.
Dr Robert Hardy, chief executive of Aesica says: ‘We have known the team at Silverfleet Capital for a number of years and chose them as our financial partner because of their deep knowledge of our market and their experience and successful track record of building global businesses of scale through buy and build strategies.’
‘Our long term strategic plan was to establish a manufacturing presence in the US and Asia in 2012, and with the support from Silverfleet Capital we can continue to expand into new markets, evolve and grow more swiftly.’
