Tega Industries and Apollo to acquire Molycop from American Industrial Partners for $1.5bn.

Tega Industries, an industrial supplies company, and Apollo, an American asset management firm, agreed to acquire Molycop, a manufacturer and supplier of grinding media to mining operations, from American Industrial Partners, a private equity firm, for $1.5bn. “This transaction will position the Molycop and Tega organisations to invest in additional technology and capabilities, and to continue their commitments to deliver reliable, high-quality products and solutions to industrial customers. For Apollo, this is a great example of pairing strategic equity and debt within a flexible, hybrid solution, and we look forward to partnering with the talented management team of Molycop and Tega to accelerate growth and drive value creation,” Mr. Gaurav Pant, Apollo Partner.