Molycop has been acquired by mining consumables designer and manufacturer Tega Industries Ltd, marking a significant milestone for both companies and opening a new chapter in their growth.
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. 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.
Delivering greater value to customers worldwide
Mehul Mohanka, Managing Director and Group CEO of Tega Industries, said: “Today we recognize 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.”
In partnership with Apollo Funds, we are committed to accelerating growth, enhancing our market offer, and delivering even greater value to our customers worldwide.
A broader mill optimisation solution
With the acquisition now complete, the two companies will offer customers enhanced solutions, supported by an expanded global footprint
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.
With the transaction now closed, Tega Industries Ltd. is the controlling shareholder of Molycop, with Apollo Funds owning a significant minority interest. This acquisition only reinforces the ambition and commitment of Tega Industries to driver long-term growth and create value for all stakeholders.
