Tega and Apollo Funds consortium - Molycop

The proposed acquisition involves a consortium comprised of Tega Industries Limited (Tega) and the Apollo funds indirectly and collectively acquiring all outstanding shares in the subsidiaries of AIP MC Holdings LLC that collectively form Molycop.

The Apollo Funds are managed by Apollo Global Management, Inc and indirect subsidiaries of it (Apollo).

The proposed acquisition will occur through a special purpose vehicle, Tega MC JV Holdings Pte. Ltd (JV Co.), which is indirectly and jointly controlled by Tega and the Apollo funds.  Tega indirectly holds 76.7% of JV Co., while Apollo indirectly hold the remaining 23.3%.

Tega is a global supplier of mining products such as mill and scrubber liners, trommels, screen media, hydrocyclones, slurry pumps and parts, conveyor components, chutes, and other rubber and composite wear parts. Tega also provides installation, condition monitoring, and maintenance services.

Apollo is an alternative asset management firm headquartered in New York. Examples of current investments include companies in natural resources, manufacturing and industrial, education, insurance, financial services, and leisure businesses.

Molycop is a global supplier of mining consumables, with a focus on the manufacture and sale of grinding media and flotation chemicals for use in both semi-autogenous grinding mills and ball mills. These products are used for mineral extraction and processing for copper, gold and iron ore. In Australia, Molycop also supplies engineered products for the Australian rail and manufacturing industries