AptarGroup to Acquire Stelmi Group for $207M
AptarGroup is to acquire the Stelmi Group, a maker of elastomer primary packaging components for injectable drug delivery.
AptarGroup has agreed to purchase the Stelmi Group, a maker of elastomer primary packaging components for injectable drug delivery, for €165m (US$207m) in cash, expanding its portfolio of solutions for the pharmaceutical industry. The transaction is expected to close in the third quarter of this year.
Established in 1964, Stelmi operates two manufacturing plants in the Normandy region of France near Aptar’s existing pharma facilities and also has an r&d centre near Paris.
Stelmi had revenues of approximately €83m ($104m) in 2011 and has achieved EBITDA (earnings before interest, taxes, depreciation and amortisation) margins of 21–25% over the past three years.
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