CSP Technologies is a profitable, well-managed business with annual revenues of approximately $140 million (unaudited). Commenting on the transaction, Stephan Tanda said, “We are pleased to announce that we have submitted a binding offer to acquire CSP Technologies.
This strategic transaction meets our disciplined criteria for acquiring companies with strong positions in attractive markets, proprietary technologies, solid margins and robust growth fundamentals. Similar to Aptar, CSP Technologies has an innovative culture with intellectual property that drives product development and enables highly engineered solutions, including their three-phase polymer technology.
They are also experienced in navigating the relevant regulatory environments and have highly automated visual inspection and quality control systems, and analytical performance testing of individual products.
We plan to welcome CSP Technologies’ experienced team to Aptar and we look forward to growing the existing business in the Pharma and Food Safety markets, and leveraging their active packaging and material science knowhow in other end markets. Together we will continue to develop value-creating, differentiated solutions as a global leader in packaging solutions.”
Wells Fargo Securities acted as the exclusive financial advisor to Aptar in connection with the transaction and Sidley Austin LLP acted as legal counsel.