Apollo Funds To Sell Stake In MAFTEC To Advantage Partners For Undislosed Terms

(RTTNews) - Apollo Global Management Inc. (APO) announced Thursday that funds managed by its affiliates, the Apollo Funds, have agreed to sell their interest in MAFTEC Group Co., Ltd., a Japanese provider of ultra-high temperature heat insulating solutions, to funds managed by Advantage Partners. The financial terms of the deal were not disclosed.

The sale is expected to close in the second half of 2025, subject to satisfaction of closing conditions.

MAFTEC was formed through the separation of Mitsubishi Chemicals Thermal and Emission Control Materials business, which was acquired by the Apollo Funds in March 2022.

The alternative asset manager noted that the Apollo Funds' investment in MAFTEC showcases its track record as a solution provider and strategic partner of choice to certain Japanese companies.

Apollo Funds' private equity investments in Japan include Panasonic Automotive Systems and Altemira, the holding company for Resonac and Mitsubishi Materials aluminum beverage can business.

Tetsuji Okamoto, Lead Partner, Japan, and Head of Private Equity Asia Pacific at Apollo, said, "We are proud to have supported MAFTEC's launch as a standalone company and of the strong results the management team has achieved during our funds ownership. Driven by innovative material processing technology, the Company has developed leading new products and delivered significant growth and profitability in a challenging global business environment."

In the pre-market activity on the NYSE, Apollo shares were gaining around 0.2 percent to trade at $138.01.