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What is the story about?
Shares of Tega Industries
Ltd. will be in focus on Tuesday, June 2, after the company announced the completion of its acquisition of Molycop, a leading global supplier of grinding media for the mining industry.
Tega Industries, in partnership with funds managed by affiliates of Apollo Global Management, has acquired Molycop from an affiliate of American Industrial Partners in a transaction valued at approximately $1.5 billion.
The acquisition creates one of the world's largest providers of critical consumables used in mining, mineral processing and material handling operations, combining the strengths of both companies across products, technology and customer relationships.
Managing Director and Group CEO Mehul Mohanka said that Molycop's scale, technology capabilities and customer base complement Tega's innovation-driven culture and broad product portfolio, creating opportunities to accelerate growth and enhance customer offerings globally.
Apollo's Partner Gaurav Pant said the combined entity will have a strong position across key mining consumables and services markets. He said that the transaction highlights Apollo's ability to provide flexible capital solutions while supporting transformational growth alongside management teams.
American Industrial Partners' Partner Alex Schukin said Molycop has established itself as an innovative leader in the mineral processing consumables market and expressed confidence that the business is well-positioned to continue creating value under Tega's ownership.
Molycop CEO Jim Anderson described the transaction as a pivotal moment for the company, saying the partnership with Tega and Apollo Funds will support the next phase of growth through complementary capabilities, shared values and a stronger global platform.
Following the completion of the transaction, Tega Industries has become the controlling shareholder of Molycop, while Apollo Funds will retain a significant minority stake.
The company said its immediate focus over the next two years will be on operational integration and business synergies.
The combination is expected to strengthen Tega's ability to offer end-to-end mill optimisation solutions across the mining value chain.
It will also significantly expand the group's geographic footprint, combining Tega's presence across Europe, the Middle East, CIS, Latin America and Africa with Molycop's operations in the US, Canada, Latin America and Australia.
The deal will increase the combined manufacturing network to 26 facilities worldwide, including Molycop's 13 manufacturing plants, three active joint ventures and one potential joint venture, bringing the company closer to customers across key mining markets.
Shares of Tega Industries ended Monday's session 2.1% higher at ₹1,803. The stock remains down about 8% so far in 2026.
Tega Industries, in partnership with funds managed by affiliates of Apollo Global Management, has acquired Molycop from an affiliate of American Industrial Partners in a transaction valued at approximately $1.5 billion.
The acquisition creates one of the world's largest providers of critical consumables used in mining, mineral processing and material handling operations, combining the strengths of both companies across products, technology and customer relationships.
Managing Director and Group CEO Mehul Mohanka said that Molycop's scale, technology capabilities and customer base complement Tega's innovation-driven culture and broad product portfolio, creating opportunities to accelerate growth and enhance customer offerings globally.
Apollo's Partner Gaurav Pant said the combined entity will have a strong position across key mining consumables and services markets. He said that the transaction highlights Apollo's ability to provide flexible capital solutions while supporting transformational growth alongside management teams.
American Industrial Partners' Partner Alex Schukin said Molycop has established itself as an innovative leader in the mineral processing consumables market and expressed confidence that the business is well-positioned to continue creating value under Tega's ownership.
Molycop CEO Jim Anderson described the transaction as a pivotal moment for the company, saying the partnership with Tega and Apollo Funds will support the next phase of growth through complementary capabilities, shared values and a stronger global platform.
Following the completion of the transaction, Tega Industries has become the controlling shareholder of Molycop, while Apollo Funds will retain a significant minority stake.
The company said its immediate focus over the next two years will be on operational integration and business synergies.
The combination is expected to strengthen Tega's ability to offer end-to-end mill optimisation solutions across the mining value chain.
It will also significantly expand the group's geographic footprint, combining Tega's presence across Europe, the Middle East, CIS, Latin America and Africa with Molycop's operations in the US, Canada, Latin America and Australia.
The deal will increase the combined manufacturing network to 26 facilities worldwide, including Molycop's 13 manufacturing plants, three active joint ventures and one potential joint venture, bringing the company closer to customers across key mining markets.
Shares of Tega Industries ended Monday's session 2.1% higher at ₹1,803. The stock remains down about 8% so far in 2026.
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