Yorkshire financiers back pharma firm with £20m

CORPORATE financiers in Yorkshire have supplied funding worth £20m to support the expansion of a specialist pharmaceuticals manufacturer.

The Yorkshire office of Lloyds TSB Corporate Markets acquisition finance is behind the package which will help Aesica continue growth which has seen the company increase turnover by 300% in the past six years.

Simon Dixon, associate director at Lloyds TSB Corporate Markets acquisition finance, said: “Aesica is a well-invested business with strong revenue streams and is ideally positioned to capitalise on increasing demand for outsourced manufacturing from the global pharmaceutical industry.

“The new flexible facilities will meet the company’s future working capital, capex and acquisition funding requirements and enable it to maintain its impressive rate of growth.  

“This deal demonstrates the bank’s appetite to support market-leading firms like Aesica which are operating in growing global markets and which boast top-class management teams backed by supportive private equity sponsors.”

Newcastle-based Aesica is a supplier of pharmaceutical ingredients to the global pharmaceutical and biotechnology industries.

It was formed in September 2004 after a management buyout and now employs 750 people.