Apollo Funds Agree to Sell MAFTEC to Advantage Partners

Rhea-AI Summary

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.

Positive

• 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

Negative

• None.

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 $785 billion of assets under management. To learn more, please visit www.apollo.com.

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?

Apollo Funds have agreed to sell their interest in MAFTEC Group Co., Ltd., a Japanese heat insulating solutions company, to Advantage Partners. The deal is expected to close in H2 2025.

When did Apollo acquire MAFTEC from Mitsubishi Chemical?

Apollo Funds acquired MAFTEC through the separation of Mitsubishi Chemical's Thermal and Emission Control Materials business in March 2022.

How has MAFTEC performed under Apollo's ownership?

Under Apollo's ownership, MAFTEC achieved significant EBITDA expansion, developed leading new products, and delivered strong growth and profitability despite challenging global conditions.

What other investments does Apollo have in Japan?

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

What is MAFTEC's main business focus?

MAFTEC is a global leader in ultra-high temperature heat insulating solutions serving the automotive and industrial end-markets.