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The sale supports Celanese’s strategic priorities, including deleveraging its balance sheet and focusing on core growth areas.

The Micromax portfolio comprises advanced electronic inks and pastes used in high performance electronics across applications such as navigation and defense, medical monitoring, and advanced circuit board components. The portfolio includes conductive, resistive, and dielectric thick film inks, as well as Low Temperature Co fired Ceramic (LTCC) materials for multilayer circuits.

The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions and required regulatory approvals.

“This transaction underscores our strength in executing complex, cross border divestitures,” said M&A partner, Romain Dambre. “We are pleased to support Celanese on a strategic portfolio action that advances its priorities and positions Micromax for continued success under new ownership.”

The A&O Shearman team that advised Celanese was led by M&A partner, Romain Dambre and associates Iqra Anees, Lucy Chen, and Becca Scher in New York.

Tax advice was provided by partner Ryan Bray in Dallas, and associate Brandon Fawbush in Washington D.C. Antitrust advice was provided by partner Noah Brumfield and associate Nick Putz in Washington D.C. Employment advice was provided by compensation, employment, pensions and governance (CEPG) partners Doreen Lilienfeld and Melisa Brower and associates Alexandra Sentner and Thomas Blecher in New York. Intellectual property advice was provided by partner JB Betker and associate Will Jackson in New York.

The multidisciplinary deal team was also supported by A&O Shearman teams across nine jurisdictions, including U.S., UK, China, France, Germany, Hong Kong, Japan, Netherlands, and Singapore.  

Crystal Lake, Illinois, October 30, 2025 — AptarGroup, Inc. (NYSE:ATR), a global leader in drug delivery and consumer product dosing, dispensing and protection technologies, today reported the following third quarter results for the period ended September 30, 2025, as compared to the corresponding period of the last fiscal year.

Third Quarter 2025 Highlights

(Compared to the prior year quarter; see Non-GAAP section for full definitions; see reconciliation for Non-GAAP measures)

• Reported sales increased 6% and core sales increased 1%
• Strong product volume growth in Closures and Pharma, especially in injectables
• Reported net income increased 28% to $128 million and reported earnings per share increased 30% to $1.92
• Adjusted earnings per share, which also excludes non-ordinary-course litigation costs (see Non-GAAP section for full definition), increased 4% to $1.62
• Adjusted EBITDA, which also excludes non-ordinary-course litigation costs, increased 7% to $223 million
• Adjusted EBITDA margin was 23.2% compared to 22.9% in the prior year
• Returned $70 million to shareholders through share repurchases and dividends

Nine Months Year-to-Date 2025 Highlights

(Compared to the prior year period; see Non-GAAP section for full definitions; see reconciliation for Non-GAAP measures)

• Reported sales increased 3% and core sales increased 1%
• Reported net income increased 16% to $318 million and reported earnings per share increased 17% to $4.75
• Adjusted earnings per share increased 7% to $4.48
• Adjusted EBITDA increased 8% to $624 million, and Adjusted EBITDA margin was 22.2% compared to 21.2% in the prior year
• Returned $279 million to shareholders through share repurchases and dividends

“Aptar delivered solid third quarter results with strong product volume growth in Pharma and Closures. As we anticipated, we are seeing the steady ramp in sales in our injectables division, which grew 18% in the third quarter, indicating an expected strong finish to the year for elastomeric components. Our continued focus on innovation, operational excellence and disciplined capital deployment, positions us well to deliver sustainable value for our customers and shareholders, while expanding our third quarter adjusted EBITDA margin,” said Stephan B. Tanda, Aptar President and CEO.

Download the full press release.