Silverfleet's Aesica receives £30m for site expansion

The investment was funded with retained cash from the company as well as additional bank facilities provided by existing lenders.

The new high-capacity manufacturing facility in Queenborough, Kent, has been constructed for the production of solid dose medication used for treating type-2 diabetes. Production at the 10,000m² site will begin in November.

The expansion enables Aesica to almost double its solid dose manufacturing capacity. The facility will employ 55 dedicated technicians.

The investment is part of the company's growth strategy to triple its annual revenues to more than £500m by the end of 2016 through both organic and acquisitive growth.

Silverfleet invested in Aesica in September 2011, acquiring a majority stake from LDC.

Aesica supplies contract development and contract manufacturing services for formulated products and active pharmaceutical ingredients to pharmaceutical companies and biotechnology organisations.

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• Topics
• Portfolio management
• UK / Ireland
• Silverfleet Capital
• LDC