Mega Airless, which provides airless dispensing systems for the beauty, personal care and pharmaceutical markets will add complementary products and market coverage to AptarGroup’s existing diversified portfolio of business.
The purchase will be funded with available cash on hand in Europe and an existing revolving credit facility, and is subject to customary regulatory approvals and is expected to close in the first quarter of this year.
“We are very pleased to announce this strategic acquisition which aligns with our disciplined approach of acquiring well-managed, profitable businesses with innovative technology,” says Steve Hagge, AptarGroup President and CEO.
“[Mega Airless’] products and the markets they serve are complementary to our own and we see significant opportunities to leverage AptarGroup’s global network to grow this business.”
Mega Airless has over 30 years of experience and has grown to become a leader in airless dispensing technology with two manufacturing facilities in Germany and one in the United States.
The Germany –headquartered firm’s projected annual revenues for 2015 are approximately €61 million and the company has achieved EBITDA (earnings before interest, taxes, depreciation and amortization) margins in excess of 30% over the past three years.
AptarGroup, which is headquartered in Crystal Lake, Illinois, operates manufacturing plants in Asia, Europe, North America and South America, supplying plastic dispensing products in markets such as beauty and health care.
It is in these two markets that this deal will have the biggest influence and Aptar believes this will have a big impact on its future.
“Today, dermal applications are growing and evolving,” adds Hagge.
“Regulatory agencies in the prescription and over-the-counter pharmaceutical markets, and customers in the beauty and personal care markets, are seeking better ways to control dosing and preserve formulations across a variety of products. This transaction will enable us to shape the future of airless solutions.”