19 September 2013
Silverfleet backed Aesica announces £30 million expansion at Queenborough manufacturing site
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 Contract Development and Manufacturing Organisation’s (“CDMO”) 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 of 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.”