UK-based pharmaceutical manufacturer Aesica has announced the creation of a new high capacity manufacturing facility following an investment at its Queenborough, Kent site. The company is backed by Silverfleet Capital.
Leading pharmaceutical manufacturer Aesica, backed by Silverfleet Capital, has today announced the creation of a new High Capacity Manufacturing Facility following a £30 million investment at its Queenborough, Kent site. The 10,000 sq. m expansion has been constructed for the production of a solid dose medication used in treating one of the world’s most common lifestyle diseases: Type 2 diabetes in adults. Following today’s official opening, commercial production at the facility will commence in November.
This latest milestone development will approximately double the site’s solid dose manufacturing capacity and represents a major investment in highly technical and specialist equipment. The facility will have a dedicated workforce of 55 technicians with the design of the facility allowing the current capacity to be more than doubled in the future, which would require a further additional 50 staff to be recruited.
As a result of the new facilities, Aesica – which was backed by Silverfleet Capital in 2011 – will establish its position as one of the top ten CDMOs in the world. The investment forms part of Aesica’s strategic plan to triple its annual revenues to more than £500 million by the end of 2016 through a mix of organic and acquisitive growth.
Aesica Pharmaceuticals is well established as a manufacturer and a major exporter of formulated products. This latest investment reflects the continued growth in export demand experienced by the Company. This specific product manufactured at the new facility has global sales and is set for worldwide export.
Dr Robert Hardy, CEO of Aesica Pharmaceuticals commented: “The expansion and opening of the High Capacity Manufacturing Facility marks another key milestone for our company and a further step towards achieving our vision to be the world’s number one supplier of APIs and formulated products to the pharmaceutical industry. This is a period of significant growth for our business. In 2011 we acquired three manufacturing sites in Europe, effectively doubling the size of our workforce and capabilities and since then we have continued to expand our business development team globally. We enjoy the support of our private equity partner, Silverfleet Capital, which has played a pivotal role in this expansion.”
He continued: “The formulation of critical pharmaceutical drugs, such as for the treatment of Type 2 diabetes, is a perfect example of the type high demand product that we manufacture for supply to the international market place.”
Adrian Yurkwich, partner at Silverfleet Capital and a non-executive director of Aesica commented: “This investment in expanded manufacturing facilities demonstrates Aesica’s commitment to its key strategic partners and its intention to achieve significant growth internationally.
“The company is fast establishing its position itself as one of the top ten CDMOs in the world and this is testament to its excellent management team.”
For further information please contact:
Emily Weston, Equity Dynamics – 07825 326 442
Notes to editors:
Silverfleet Capital has been an active European mid-market private equity investor for more than 25 years. Silverfleet Capital works with the management teams of their investee companies to realise “buy to build” strategies. This means working with companies to create value by accelerating their growth through investment for example in new products, production capacity or people, or rolling out successful retail formats or through making follow-on acquisitions also known as Buy & Build. Its portfolio has made approximately 110 follow-on acquisitions since 2000.
Silverfleet Capital has a consistently strong investment track record. Notable exits include TMF, the global independent administrators (6.1x cost), Phadia, the world’s leading allergy diagnostics company (4.8x cost), Histoire d’Or, the European jewellery retailer (3.0x cost), Sterigenics International Inc and European Dental Partners.
During 2013 Silverfleet Capital has completed the acquisitions of Ipes, the Guernsey based private equity fund administration business; and A/S Cimbria, a manufacturer of equipment and processing lines for handling and processing of seed and grain. Silverfleet Capital invested in La Fée Maraboutée, the French wholesaler and retailer of women’s fashion in December 2012; Aesica, the pharmaceutical contract manufacturing organisation in October 2011; Office, the UK footwear business in December 2010; creatrade(1), a leading German catalogue and on-line retailer of fashion, lifestyle and promotional products in October 2010; and Kalle, a leading global producer of artificial sausage casings, in September 2009.
Silverfleet Capital manages approximately €1 billion and has offices in London, Paris, Munich and Chicago. This office network enables Silverfleet Capital to execute complex, multi-jurisdictional investments as well as to support investee companies with both domestic and international buy and build strategies.
Aesica supplies contract development and contract manufacturing services for Formulated Products and Active Pharmaceutical Ingredients to a host of the world’s leading pharmaceutical companies and emerging biotechnology organisations.
The uniqueness of Aesica lies in its flexible and bespoke approach to service delivery, coupled with its ability to develop products from the initial clinical stage through to final commercial supply. It is this all-encompassing offering combined with its dedication to exceptional standards of service that truly sets Aesica apart from its counterparts.
Aesica is one of the UK’s most innovative and versatile drug contract development and manufacturing companies.
Aesica services its customers across the full product lifecycle from development to commercial supply and formulated products represents 75% of the company’s business.
As a young company celebrating its 10th anniversary in 2014, Aesica has achieved great success supporting many of the world’s top 20 pharmaceutical companies with six European facilities and a 1,300-strong international workforce.
Aesica develops long-term strategic partnerships with its clients to help them deliver value into the market place.