US-based AptarGroup has completed the acquisition of CSP Technologies, a material science specialist delivering active packaging solutions to protect products.
Headquartered in Auburn, Alabama, CSP provides active packaging technology based on material science expertise. The company pioneers new technologies and customized designs to ensure product protection for sensitive products.
AptarGroup made a binding offer last month to acquire CSP Technologies, a unit of global investment firm Wendel, for an enterprise value of $555m.
CSP is engaged in offering integrated, active desiccant and product protection technologies for the pharma and food service markets.
With six worldwide locations, the company serves a single source for customers for custom product design, development, and manufacturing.
CSP provides moisture protection and gas scavenging solutions, as well as offers advanced technologies to protect sensitive products.
The firm offers its products under four categories, including vials, films and blisters, molded components, and specialized packaging solutions.
CSP has developed active solutions and services to protect sensitive products in different industries, including pharmaceuticals, drug delivery systems/medical devices, diagnostics, food, and sensitive electronic components.
Some products of the company include Activ-Film materials, Activ-Blister solutions, Activ-Vial portfolio, Pharmapuck scavenging devices, effervescent tablet packaging and aseptic sampling solutions.
Aptar intends to expand CSP’s existing business in the pharma and food safety markets, as well as planning to apply its active packaging and material science expertise in other end markets.
AptarGroup president and CEO Stephan Tanda said: , “As anticipated, the closing of the CSP Technologies acquisition went smoothly and we welcome CSP Technologies’ experienced team to Aptar.
“We will begin to integrate CSP Technologies into our global network and together we will continue to develop value-creating, differentiated solutions as a global leader in packaging solutions.”
Aptar provides a range of advanced dispensing solutions to the customers in the beauty, personal care, home care, prescription drug, consumer health care, injectables, food and beverage markets.
Based in Crystal Lake of Illinois, the company has manufacturing facilities in North America, Europe, Asia and South America.