Friday, February 15, 2013

New private equity partners to Aesica Pharmaceuticals

AESICA Pharmaceuticals Limited (Aesica) is a pharmaceutical contract manufacturing organization (CMO), headquartered in Newcastle. The company was originally founded in 2004 following a management buyout backed LDC (MBO) BASF production facility in Cramlington, Northumberland. MBO led by current CEO, Dr. Robert Hardy. Since the MBO Aesica has grown through a combination of organic growth and acquisitions in its current position as a provider of integrated services including CMO (active pharmaceutical ingredients) developing and manufacturing APIs and formulations (finished dosage) the development and manufacture of various pharmaceutical companies globally. The company now operates from six locations in the UK, Germany and Italy. The trend for big pharmaceutical companies to move away from a model of integrated, to focus on their core competencies of R & D and brand development, increase their reliance on third-party suppliers, such as Aesica, the entire value chain while also increasing the number of pharmaceutical manufacturing facility for sale. During the first quarter of 2011 Aesica completed the acquisition of three manufacturing sites in Germany and Italy from the Belgian pharmaceutical company UCB Sat acquisition allows Aesica to expand the network of sites in the UK for the first time, to make a step change in the formulation and its ability to establish a strategic partnership with UCB. Corporate finance team, led by Paul Mankin, assigned to the bank to secure the equipment needed to finance the transaction. In a separate interaction with the corporate finance team also retained to advise the company in recognition of a new private equity partners and to manage the process to manage the exit LDC. PwC's transaction services team, led by Nigel Ward, also assigned to conduct financial services vendor due diligence. Silverfleet Capital Private Equity was chosen as a new investor and the transaction successfully exchanged contracts in late September pending regulatory clearance obtained in Germany in October. Dr Robert Hardy, CEO of Aesica, said: "Aesica was founded more than 30 years in manufacturing. Recent acquisition of manufacturing sites in Germany and Italy demonstrates our commitment to improve services Aesica offers global pharmaceutical and biotechnology industry. Our long-term strategic plan to establish a manufacturing presence in the U.S. and Asia in 2012 and with the support of Capital Silverfleet we can continue to expand into new markets, changing and growing faster. ' Paul Mankin, PwC corporate finance partner said "This is a great business and we are stuck in part contribute to future growth."

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