DRUGS giant Aesica has won a majority investment from European private equity firm Silverfleet Capital which will boost its expansion plans.

The Newcastle-based company said it expects to see its turnover rise from around £90m last year to about £115m this year as it continues its global growth.

It is likely to focus on driving ahead sales and production in the US and Asia after the Silverfleet investment which replaces the investment from private equity firm LDC which backed its launch in a buy-out from BASF in 2004.

Members of Aesica’s executive team will reinvest a significant amount of money for a large minority stake in the company which has grown dramatically through a string of acquisitions in the last year.

Dr Robert Hardy, CEO of Aesica, said: “We have known the team at Silverfleet Capital for a number of years and chosen them as our financial partner because of their deep knowledge of our market and their experience and successful track record of building global businesses of scale though buy and build strategies.

“Aesica is founded on over 30 years of pharmaceutical manufacturing expertise. Most recently the three recent acquisitions of manufacturing sites in Germany and Italy demonstrate our commitment to enhancing Aesica’s service offering to the global pharmaceutical and biotechnology industries. The support from Silverfleet Capital will prove invaluable as we continue to expand into new markets, evolve and grow.”