Ara Partners, a private equity firm, completed the acquisition of Vacuumschmelze, an advanced magnetic materials producer, from Apollo, an investment company. Financial terms were not disclosed. "We are excited to partner with Ara Partners, which has a strong track record of working closely with management teams across the industrial economy to create value while achieving meaningful decarbonization benefits. Ara and VAC will capitalize on significant growth opportunities for soft and hard magnetic solutions alongside our loyal partners and customers. In addition, we will accelerate work towards building our rare earths value chain, pursuing a range of strategic growth opportunities to establish a robust supply chain for EV manufacturing in the Western World," Erik Eschen, Vacuumschmelze CEO.