Plastic products manufacturer AptarGroup is set to take on Germany-based Mega Airless for $218m in a move that will push the group further in Latin and Asian markets.

The Crystal Lake manufacturer will take control of the company, which makes airless dispensary technology for products aimed primarily at the beauty market.

AptarGroup CEO Steve Hagge said, “The beauty of Mega [Airless] from Aptar’s standpoint is we are able to significantly shorten the amount of time it will take us to get to market, and it also eliminates capital expenditures that we were going to need to spend to be able to compete in this market.
“We can leverage our extensive regulatory experience across different countries as we help grow the pharmaceutical part of this business.”

Mega Airless has two factories in the US and Germany and a wealth of knowledge in packaging following 30 years’ experience. The company has projected revenue for 2015 of $66 million and achieved earning margins over 30 percent before interest, taxes, depreciation and amortization over the past three years.

Using similar technology the synergy will no doubt boost both company’s foothold in the market. AptarGroup is said to use cash from its European operation and additional borrowing to acquire the company, however, the deal can’t be confirmed until it has gone through regulatory approval.

Hagge said, “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.”