Apollo Funds Agree to Sell MAFTEC to Advantage Partners
Apollo (NYSE: APO) has announced that its managed funds will sell MAFTEC Group Co., Ltd. to Advantage Partners. MAFTEC, a Japanese leader in ultra-high temperature heat insulating solutions for automotive and industrial markets, was originally acquired from Mitsubishi Chemical in March 2022.
Under Apollo's ownership, MAFTEC achieved significant EBITDA expansion through the successful launch of the MAFTEC™ product suite. The company's growth was driven by innovative material processing technology and strong management execution despite challenging global conditions.
The transaction is expected to close in H2 2025, subject to closing conditions. This deal adds to Apollo's track record in Japan, where its investments include Panasonic Automotive Systems and Altemira.
Apollo (NYSE: APO) ha annunciato che i suoi fondi gestiti venderanno MAFTEC Group Co., Ltd. ad Advantage Partners. MAFTEC, leader giapponese nelle soluzioni di isolamento termico a temperature ultraalte per i mercati automobilistico e industriale, era stata acquisita originariamente da Mitsubishi Chemical nel marzo 2022.
Sotto la proprietà di Apollo, MAFTEC ha registrato una significativa espansione dell'EBITDA grazie al lancio di successo della gamma di prodotti MAFTEC™. La crescita dell'azienda è stata guidata da una tecnologia innovativa di lavorazione dei materiali e da una solida esecuzione gestionale, nonostante le difficili condizioni globali.
La transazione dovrebbe concludersi nella seconda metà del 2025, soggetta a condizioni di chiusura. Questo accordo si aggiunge al track record di Apollo in Giappone, dove i suoi investimenti includono Panasonic Automotive Systems e Altemira.
Apollo (NYSE: APO) ha anunciado que sus fondos gestionados venderán a MAFTEC Group Co., Ltd. a Advantage Partners. MAFTEC, líder japonés en soluciones de aislamiento térmico a temperaturas ultraaltas para los mercados automotriz e industrial, fue adquirido originalmente de Mitsubishi Chemical en marzo de 2022.
Bajo la propiedad de Apollo, MAFTEC logró una significativa expansión del EBITDA mediante el exitoso lanzamiento de la línea de productos MAFTEC™. El crecimiento de la empresa fue impulsado por una tecnología innovadora de procesamiento de materiales y una sólida ejecución gerencial, a pesar de las condiciones globales desafiantes.
Se espera que la transacción se cierre en la segunda mitad de 2025, sujeta a condiciones de cierre. Este acuerdo se suma al historial de Apollo en Japón, donde sus inversiones incluyen Panasonic Automotive Systems y Altemira.
Apollo (NYSE: APO)가 관리하는 펀드가 MAFTEC Group Co., Ltd.를 Advantage Partners에 매각할 것이라고 발표했습니다. MAFTEC는 자동차 및 산업 시장을 위한 초고온 단열 솔루션 분야의 일본 선두 기업으로, 2022년 3월 Mitsubishi Chemical로부터 인수되었습니다.
Apollo의 소유 하에 MAFTEC는 MAFTEC™ 제품군의 성공적인 출시를 통해 EBITDA 크게 확장하는 성과를 거두었습니다. 회사의 성장은 혁신적인 소재 가공 기술과 강력한 경영 실행력에 힘입었으며, 어려운 글로벌 환경 속에서도 성장했습니다.
이번 거래는 2025년 하반기에 마무리될 예정이며, 거래 종료 조건에 따릅니다. 이 거래는 Panasonic Automotive Systems와 Altemira를 포함한 Apollo의 일본 내 투자 실적에 추가됩니다.
Apollo (NYSE : APO) a annoncé que ses fonds gérés allaient céder MAFTEC Group Co., Ltd. à Advantage Partners. MAFTEC, leader japonais des solutions d'isolation thermique à très haute température pour les marchés automobile et industriel, avait été initialement acquis auprès de Mitsubishi Chemical en mars 2022.
Sous la propriété d'Apollo, MAFTEC a réalisé une importante croissance de l'EBITDA grâce au lancement réussi de la gamme de produits MAFTEC™. La croissance de l'entreprise a été portée par une technologie innovante de traitement des matériaux et une gestion efficace malgré un contexte mondial difficile.
La transaction devrait être finalisée au second semestre 2025, sous réserve des conditions de clôture. Cet accord vient s'ajouter au portefeuille d'investissements d'Apollo au Japon, qui comprend Panasonic Automotive Systems et Altemira.
Apollo (NYSE: APO) hat angekündigt, dass seine verwalteten Fonds MAFTEC Group Co., Ltd. an Advantage Partners verkaufen werden. MAFTEC, ein japanischer Marktführer für ultrahochtemperatur-Wärmedämmungslösungen für den Automobil- und Industriemarkt, wurde ursprünglich im März 2022 von Mitsubishi Chemical übernommen.
Unter der Eigentümerschaft von Apollo erzielte MAFTEC eine signifikante EBITDA-Steigerung durch die erfolgreiche Einführung der MAFTEC™-Produktreihe. Das Wachstum des Unternehmens wurde durch innovative Materialverarbeitungstechnologien und eine starke Managementleistung trotz herausfordernder globaler Bedingungen vorangetrieben.
Die Transaktion soll im zweiten Halbjahr 2025 abgeschlossen werden, vorbehaltlich der Erfüllung der Abschlussbedingungen. Dieser Deal ergänzt Apollos Erfolgsbilanz in Japan, wo zu den Investitionen Panasonic Automotive Systems und Altemira gehören.
- Successful EBITDA expansion over three years under Apollo's ownership
- Development of innovative products and technology solutions
- Strategic separation and successful standalone operation establishment
- Transaction represents successful exit for Apollo Funds
- None.
Insights
Apollo's strategic sale of MAFTEC demonstrates successful private equity value creation through carve-out transformation and operational improvements.
Apollo Funds' announced sale of MAFTEC to Advantage Partners marks the successful completion of a classic private equity value creation cycle. Apollo acquired the business in March 2022 through a carve-out from Mitsubishi Chemical, operated it for approximately three years, and is now exiting via sale to another private equity firm.
The transaction highlights Apollo's expertise in complex corporate carve-outs, particularly in the Japanese market. Under Apollo's ownership, MAFTEC underwent a successful transformation from a business unit within a larger conglomerate to a standalone entity with its own product suite and market identity. The press release specifically notes "significant EBITDA expansion" during Apollo's ownership period, indicating strong operational performance improvement.
Apollo's investment strategy in Japan shows a pattern of partnering with major Japanese conglomerates to acquire non-core assets, as evidenced by their portfolio including Panasonic Automotive Systems and Altemira. This transaction represents their ability to execute the full investment lifecycle in that market - from acquisition through operational improvement to successful exit.
For Apollo investors, this exit, expected to close in H2 2025, represents the culmination of their value creation strategy for this asset. While financial terms weren't disclosed, the mention of significant EBITDA growth suggests a potentially profitable exit that would benefit Apollo's funds and ultimately its investors. This transaction reinforces Apollo's track record in private equity, particularly in executing complex cross-border transactions and corporate carve-outs in the Japanese market.
TOKYO and NEW YORK, June 26, 2025 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that funds managed by its affiliates (the “Apollo Funds”) have agreed to sell their interest in MAFTEC Group Co., Ltd. (“MAFTEC” or the “Company”), a Japan based global leader in ultra-high temperature heat insulating solutions serving the automotive and industrial end-markets, to funds managed by Advantage Partners.
MAFTEC was formed through the separation of Mitsubishi Chemical’s Thermal and Emission Control Materials business, which was acquired by the Apollo Funds in March 2022. As a strategic partner, the Apollo team played a pivotal role in supporting the design and launch of the MAFTEC™ product suite, which helped to form the Company’s foundation in the marketplace and drove significant EBITDA expansion over the past three years.
“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. We are confident that MAFTEC is well-positioned for long-term growth, and we wish the entire team continued success in its next chapter,” said Tetsuji Okamoto, Lead Partner, Japan, and Head of Private Equity – Asia Pacific at Apollo.
Kosuke Matsuzaki, Representative Director and CEO of MAFTEC, said, “Apollo’s industry and operational expertise were instrumental to successfully executing MAFTEC’s separation from Mitsubishi Chemical and its standalone strategy, and we thank the Apollo team for their unfailing support and world-class partnership. I look forward to working with the Advantage Partners team to continue building our business in a way that benefits our customers, our employees and our investors.”
The Apollo Funds’ investment in MAFTEC showcases Apollo’s track record as a solution provider and strategic partner of choice to some of Japan’s leading conglomerates. 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.
The transaction is expected to close in the second half of 2025, subject to satisfaction of closing conditions.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2025, Apollo had approximately
Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com
FAQ
What is the deal between Apollo (NYSE: APO) and Advantage Partners regarding MAFTEC?
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