Mega Airless has two manufacturing facilities in Germany and one in the United States. The company has over 30 years of experience and has grown to become a leader in airless dispensing technology with approximately EUR 61 million (about USD 66 million) projected annual revenues for 2015 and the company has achieved EBITDA (earnings before interest, taxes, depreciation and amortization) margins in excess of 30% over the past three years.
Under the terms of the agreement, AptarGroup will acquire Mega Airless for an enterprise value of approximately EUR 200 million (USD 218 million). The purchase will be funded with available cash on hand in Europe and an existing revolving credit facility. The transaction 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. Their 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. Today, dermal applications are growing and evolving. 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,” said Steve Hagge, AptarGroup President and CEO.
With over 50 years of experience, Aptar supplies a broad range of dispensing solutions for the beauty, personal care, home care, prescription drug, consumer health care, injectables, food, and beverage markets. The company is headquartered in Crystal Lake, Illinois, with manufacturing facilities in North America, Europe, Asia and South America and over 13,000 employees worldwide.
“Mega Airless is a perfect fit for Aptar as we have complementary products and markets. By joining Aptar, we have a great opportunity to leverage Aptar’s global network, including their regulatory expertise, and continue to grow the airless systems portfolio,” commented Mega Airless CEO, Lucyna Silberstein.