SUCCESSFUL Newcastle drugs firm Aesica Pharmaceuticals has completed the acquisition of three manufacturing sites from biopharma company, UCB using debt facilities sourced from the regional offices of Lloyds and HSBC.
Aesica was formed in September 2004 through a management buyout of a former BASF site in Cramlington, backed by LDC, (Lloyds Development Capital) which took a significant stake in the business and has continued to provide strategic and financial support.
Last year Aesica announced it was buying three new plants in Germany and Italy from UCB and this has now been completed.
To fund the acquisitions of the facilities in Monheim, Zwickau and Pianezza, additional debt was provided by the acquisition finance team at Lloyds Bank Corporate Markets, which took the lead in a two bank club alongside HSBC Corporate Banking. This, and LDC’s continued backing, has given Aesica access to the capital required to support its ongoing programme of organic growth and complementary bolt-ons.
Steve Harrison, director at LDC, said: “Over the years, with our ongoing support, Aesica has become a key performer in our portfolio, increasing its footprint with site acquisitions, extending its capabilities and capacity, and adding new products and customers to its portfolio.
“The business is now a global supplier to pharmaceutical and drug companies and we look forward to continuing our relationship with the experienced management team.”