Tega Industries Completes Acquisition of Molycop in Collaboration with Apollo Funds
KOLKATA / NEW YORK, June 1, 2026: Tega Industries Limited, in consortium with funds managed by affiliates of Apollo (the Apollo Funds), has successfully completed the acquisition of Molycop. The transaction saw Tega acquire the leading global supplier of grinding media for the mining industry from an affiliate of American Industrial Partners (AIP) at an enterprise value of approximately USD 1.5 billion.The acquisition marks a significant milestone for Tega, positioning the combined business as one of the world's foremost designers and manufacturers of 'critical-to-operate' consumables. These products are vital for various stages in the mining, minerals processing, and material handling sectors, backed by an innovative and diversified product portfolio.
Mr. Mehul Mohanka, Managing Director and Group CEO of Tega Industries, commented on the deal, stating that completing the acquisition in Tega's 50th anniversary year is both symbolic and strategic. He added that Molycop's scale, technology offering, and deep customer relationships complement Tega's existing culture of innovation and product portfolio breadth.
Gaurav Pant, Partner at Apollo, stated that the combined entities of Tega and Molycop represent a scaled, global platform with a strong position across critical mining consumables and services. Mr. Pant noted that the investment demonstrates Apollo's ability to deliver tailored hybrid solutions that enable transformative change at scale.
American Industrial Partners, through Mr. Alex Schukin, congratulated Tega and Apollo on the successful closing of the transaction. Mr. Schukin highlighted that Molycop remains at the forefront of innovation due to its specialized expertise.
Mr. Jim Anderson, CEO of Molycop, noted that partnering with Tega and Apollo Funds positions the company for its next phase of value creation. He stated that the aligned values and complementary capabilities will create a stronger, more integrated platform, enabling the accelerated delivery of superior outcomes for global customers.
Combined Operational Strength
With the transaction now closed, Tega Industries is established as the controlling shareholder of Molycop, while the Apollo Funds hold a significant minority equity interest.Tega plans to focus on operational and business integration during the first eight quarters. The combination creates substantial synergy:
| Area | Tega's Strength | Molycop's Strength | Combined Advantage |
|---|---|---|---|
| Market Presence | Established in Europe, Middle East, Commonwealth of Independent States, Latin America, and Africa. | Active in the US, Canada, Latin America, and Australia. | Global coverage and optimized service reach. |
| Manufacturing Base | N/A | 13 manufacturing facilities, 3 active joint ventures, and 1 potential joint venture. | Combined presence across 26 global manufacturing sites. |
| Service Offering | Expertise in diverse industrial sectors. | Focus on grinding media and chemicals for SAG and ball mills (Copper and Gold). | Comprehensive mill optimization solution across the milling value chain. |
This acquisition reinforces Tega Industries' ambition to drive long-term growth. The integrated platform allows Tega to offer a comprehensive mill optimization solution, addressing a larger share of its customer needs through complementary product baskets.
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Disclaimer: Tega Industries is headquartered in Kolkata. Apollo is a global alternative asset manager with approximately USD 1.03 trillion of assets under management as of March 31, 2026.
TEGA Stock Price Movement
On Monday, Tega Industries Limited shares gained momentum, settling at ₹1811.4, climbing 2.10% for the session. The equity finished the day on a total traded volume of 1.24 million shares, marking a solid performance in its sector.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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