Consort Medica, a UK-based manufacturer of disposable medical devices for drug delivery, has announced it will acquire all shares of German-based Aesica Pharmaceuticals from private equity investor Silverfleet Capital for £230 million.

The deal is expected to be finalized in November, subject to approval by Consort shareholders and German competition authorities.

Aesica provides contract development and manufacturing services for finished dose and Active Pharmaceutical Ingredients, APIs, to the global pharmaceutical industry. Since its founding in 2004, the company has grown both organically and through acquisitions and has established key strategic relationships with major global blue-chip pharmaceutical companies.

Jon Glenn, CEO of Consort Medical, said Aesica is a "very strong fit" with the UK firm's strategy of diversifying into adjacent markets and technologies to capture additional value in the drug/device supply chain.

The German company also is "highly complementary" to the existing business of Consort's Bespak's drug delivery operating division and provides a number of clear strategic, competitive and value-enhancing benefits for the enlarged group, Glenn added.