Tega-Apollo consortium to acquire Molycop for $1.5 bn
ECONOMY & POLICY

Tega-Apollo consortium to acquire Molycop for $1.5 bn

Tega Industries, in consortium with funds managed by affiliates of Apollo, entered into a term sheet on September 10 to acquire Molycop, a leading global supplier of grinding media for the mining industry. The deal, valued at $1.5 billion, will be executed with American Industrial Partners (AIP) as the seller.

According to a stock exchange filing, the company noted, “This strategic, complementary acquisition will establish Tega Industries as one of the world’s leading designers and manufacturers of ‘critical-to-operate’ consumables for certain production steps in the mining, mineral processing and material handling industries with an innovative and differentiated product portfolio.”

The combined strength of Tega Industries and Molycop is reflected in their most recent audited financial results. Together, the two entities reported $1.73 billion (₹15,207 crore) in revenue and $217 million (₹1,906 crore) in EBITDA, prior to adjustments for minority interests.

Commenting on the transaction, Mehul Mohanka, Managing Director and Group CEO of Tega Industries, said, “With this strategic acquisition, and in partnership with Apollo Funds, we will accelerate innovation, greatly expand market reach and create significant value for our customers.”

Gaurav Pant, Partner at Apollo, added, “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.”

News source: Money Control
Image source: https://scanx.trade/

Tega Industries, in consortium with funds managed by affiliates of Apollo, entered into a term sheet on September 10 to acquire Molycop, a leading global supplier of grinding media for the mining industry. The deal, valued at $1.5 billion, will be executed with American Industrial Partners (AIP) as the seller.According to a stock exchange filing, the company noted, “This strategic, complementary acquisition will establish Tega Industries as one of the world’s leading designers and manufacturers of ‘critical-to-operate’ consumables for certain production steps in the mining, mineral processing and material handling industries with an innovative and differentiated product portfolio.”The combined strength of Tega Industries and Molycop is reflected in their most recent audited financial results. Together, the two entities reported $1.73 billion (₹15,207 crore) in revenue and $217 million (₹1,906 crore) in EBITDA, prior to adjustments for minority interests.Commenting on the transaction, Mehul Mohanka, Managing Director and Group CEO of Tega Industries, said, “With this strategic acquisition, and in partnership with Apollo Funds, we will accelerate innovation, greatly expand market reach and create significant value for our customers.”Gaurav Pant, Partner at Apollo, added, “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.”News source: Money ControlImage source: https://scanx.trade/

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code