US-based AptarGroup (ATR) has agreed to acquire Stelmi Group, a manufacturer of elastomer primary packaging components for injectable drug delivery, in a deal worth about €165m ($207m).
According to the dispensing systems supplier, the deal is expected to close in the third quarter of 2012 and will expand its offerings for the pharmaceutical industry.
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ATR president and CEO Steve Hagge said the acquisition fits with the company’s long-term strategy to enter new markets and applications and to seek out opportunities in the pharmaceutical and biotech industries.
“With this transaction, we are entering a new area which is primary packaging components used in the injectable drug delivery market. There is proprietary know-how in the formulation and manufacturing process surrounding elastomer primary packaging components for pharmaceutical applications,” Hagge added.
Stelmi, which reported 2011 revenues of about €83m ($104m), operates two manufacturing plants in the Normandy region of France near Aptar’s existing pharma facilities, and has a research and development centre near Paris.
The company has achieved earnings before interest, taxes, depreciation and amortisation (EBITDA) margins in the range of 21%-25% over the past three years.
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By GlobalDataAptarGroup manufactures pump dispensers for perfumes, cosmetics and pharmaceuticals, and dispensing systems for food and drinks.
