Tega Industries Ltd. has completed its acquisition of Molycop, expanding its ‘critical to operate’ consumables offering with what it says is an innovative portfolio.
The mining consumables designer and manufacturer announced the planned acquisition, in consortium with funds managed by affiliates of Apollo, towards the end of 2025. The parties executed a definitive agreement to acquire Molycop with an enterprise value of approximately $1.45 billion.
The acquisition coincides with Tega’s 50th anniversary year and positions the combined business as a leading supplier to the mining, mineral processing and materials handling industries, it says. Together, the businesses bring a broader portfolio and stronger global reach to their customers, strengthening the combined business as a global provider of critical mining consumables, technology and process optimisation solutions.
Mehul Mohanka, Managing Director and Group CEO of Tega Industries, said: “Today we recognise the beginning of an exciting new chapter for Tega. Completing this acquisition in our 50th anniversary year is both symbolic and strategic. Molycop’s scale, technology offering and deep customer relationships complement Tega’s culture of innovation and product portfolio breadth.”
Tega’s established presence across Europe, the Middle East, the CIS, Latin America and Africa will be strengthened by Molycop’s operations in the US, Canada, Latin America and Australia. With Molycop’s 13 manufacturing facilities and three joint ventures, the combined business will have 26 manufacturing sites globally, helping it stay closer to customers around the world.
Jim Anderson, CEO of Molycop, said: “Closing this transaction represents a pivotal milestone for Molycop. Partnering with Tega and Apollo Funds positions the company for its next phase of value creation.
“The strategic rationale is compelling. Our aligned values and complementary capabilities create a stronger, more integrated platform. Together, we are well positioned to accelerate execution, deepen innovation and deliver superior outcomes for customers globally.
“This acquisition only reinforces the ambition and commitment of Tega Industries to driver long-term growth and create value for all stakeholders.”
