India’s Tega Industries Ltd, best known as a major supplier of screening consumables, conveyor components and mill liners to the mining sector, has announced that it has entered into a definitive agreement with an affiliate of funds managed by American Industrial Partners (AIP) to acquire Molycop, the leading global supplier of grinding media for the mining industry, alongside funds managed by affiliates of Apollo Global Management, Inc. The company has also announced the successful completion of its fundraise by way of a preferential issue of equity shares.
On September 10, 2025, Tega, in consortium with funds managed by affiliates of Apollo, entered into a term sheet to acquire Molycop at an enterprise value of approximately US$1.48 billion. The parties have executed a definitive agreement to acquire Molycop with an enterprise value of approximately US$1.45 billion.
Tega says it will become a leading player in the sector at a time when mineral demand is poised to grow
exponentially, upon completion of the acquisition. The completion of the transaction is subject to
customary closing conditions, including receipt of required regulatory approvals. Upon closing of the transaction, Tega “will operate an extensive manufacturing platform comprising 26 manufacturing facilities across the globe, gain access to an expanded customer base, and be able to offer a comprehensive bouquet of solutions to its customers.”
It adds: “This acquisition will mark a significant milestone in Tega’s corporate journey, transitioning from an Indian enterprise with a robust international footprint into one of India’s leading innovation-driven MNC and a significant global player.”
Tega designs and manufacturers, ‘critical-to-operate’ consumables for the mining, mineral processing and material handling industries with an innovative and differentiated product portfolio. Established in 1976 and headquartered in Kolkata, the company has presence in over 92 countries.
Molycop is a supplier of grinding media to the mining industry, with a focus on the manufacture and sale of grinding media and chemicals for use in both semi-autogenous grinding (SAG) mills and ball mills. These products are critical to mineral extraction/processing of multiple minerals, but more specifically copper and gold. The company’s client network covers 400+ mines in 40 countries.
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