Sally Beauty Holdings Inc. bought Aerial Co. Inc. for $70 million as the professional beauty supplier looks to expand its footprint in the Midwest.

The Marinette, Wisc.-based Aerial sells professional beauty supplies such as hair and skin-care products to salons and spas. It had about $100 million in revenue last year.

“This acquisition is consistent with our strategy to extend our reach in U.S. geographies where we do not already have a strong presence,” said John Golliher, president of Sally unit Beauty Systems Group.

Beauty Systems will fund the purchase with $78 million of loans it entered into Monday and $1 million in cash. As much as $7 million is set aside to assume certain liabilities.

The deal is expected to add to Sally Beauty’s earnings. The company — whose main business is selling supplies to consumers through its thousands of stores–has seen results improve the past several quarters. In July, it said its fiscal third-quarter profit jumped 31 percent as revenue rose 10 percent.

Shares closed at $11.31 Friday and didn’t trade premarket. The stock has risen 48 percent this year.