Simon Dixon, associate director in the acquisition finance team at Lloyds Bank Corporate Markets, said: “The acquisition of UCB’s sites creates Aesica’s first manufacturing presence outside the UK.

“The deal will help the company extend its global sales coverage and will boost the firm’s already strong reputation in the market.

“Aesica is a hugely experienced, well-invested customer with strong visibility of revenues, supported by key partnerships.

“This transaction is a crucial step in Aesica’s strategic development and a real success story for Yorkshire and the North East’s corporate finance community.

“The company’s European expansion and ongoing development ambitions mark it out as one of the North East’s leading corporates and highlight the potential for similar mid-market manufacturing businesses in the region to grow through private equity investment.”

Tony Leech, HSBC senior corporate banking manager, North East, said: “These are transformational acquisitions for Aesica, reshaping its footprint across Europe and broadening the opportunities open to the company.

“This latest strategic move highlights the quality of management behind this global business, and we look forward to supporting their enhanced European presence.”

Dr Robert Hardy, chief executive, Aesica, said: “The acquisition of the three UCB manufacturing sites is strategically crucial for our business as we extend and enhance our current offering and establish a presence in Europe.

“We believe Europe will be a key market for us in 2011 and to have secured such high profile sites as well as agreeing a long-term strategic partnership to supply UCB, is testament to our commitment to being recognised as a leader in the industry.

“By acquiring the sites in Europe we have not only almost doubled our workforce but we have gained new technological capability, which will further enhance and strengthen our unique service proposition.”