Apollo Funds sold their interest in ALTEMIRA Holdings to MBK Partners, highlighting successful industry consolidation and innovative aluminum recycling.
Quiver AI Summary
Apollo announced the successful sale of its interest in ALTEMIRA Holdings Co., Ltd., a pan-Asian aluminum packaging company, to MBK Partners. Established in 2022 through a merger of Showa Denko's aluminum business and Mitsubishi Materials' products division, ALTEMIRA showcases Apollo's capability to manage complex carve-outs and facilitate industry consolidation. The company has developed a unique, vertically integrated aluminum recycling ecosystem. This investment underlines Apollo’s position as a key partner for major Japanese corporations in industries traditionally resistant to foreign capital. The transaction follows Apollo Funds' previous successful exit from MAFTEC and is part of its broader investment strategy in Japan, which includes stakes in Panasonic Automotive and Nippon Sheet Glass.
Potential Positives
- Completion of the sale of ALTEMIRA Holdings Co., Ltd. demonstrates Apollo's capability in managing complex carve-out transactions and industry consolidations.
- The formation of ALTEMIRA reflects successful collaboration with leading Japanese corporations, showcasing Apollo's reputation as a trusted partner in challenging market sectors.
- ALTEMIRA's establishment of a vertically integrated aluminum recycling ecosystem positions the company as a leader in sustainable practices, enhancing its market differentiation.
- The exit from ALTEMIRA follows a successful exit from MAFTEC, indicating a strong track record of profitable divestitures for Apollo's managed funds.
Potential Negatives
- The press release does not specify the financial details or performance metrics related to the sale of ALTEMIRA, which may raise questions about the profitability or strategic rationale behind the transaction.
- There is no mention of how the sale could impact Apollo's future investments or strategies in the Japanese market, which might create uncertainty for stakeholders regarding the company’s long-term plans in that region.
- The announcement follows a similar exit (MAFTEC) and could suggest a pattern of divestiture, potentially implying challenges in retaining or growing investments within specific sectors of the Japanese market.
FAQ
What is ALTEMIRA Holdings Co., Ltd.?
ALTEMIRA Holdings Co., Ltd. is a pan-Asian aluminum packaging company formed in 2022 through a combination of two major aluminum businesses.
Who completed the sale of ALTEMIRA?
The sale of ALTEMIRA was completed by Apollo-managed funds to funds managed by MBK Partners.
What does ALTEMIRA specialize in?
ALTEMIRA specializes in vertically integrated aluminum recycling ecosystems, including beverage can collection and processing.
How does Apollo support business transformations?
Apollo supports business transformations through complex carve-outs and the execution of strategic M&A to drive industry consolidation.
What significant transactions has Apollo Funds recently completed?
Apollo Funds recently completed the successful exit of MAFTEC and have ongoing investments in Panasonic Automotive Systems and Nippon Sheet Glass.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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- Michael Cyprys from Morgan Stanley set a target price of $165.0 on 04/21/2026
Full Release
TOKYO and NEW YORK, June 03, 2026 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) announced that Apollo-managed funds (the “Apollo Funds”) completed the sale of their interest in ALTEMIRA Holdings Co., Ltd. (“ALTEMIRA” or the “Company”), a leading pan-Asian aluminum packaging company, to funds managed by MBK Partners.
ALTEMIRA was established in April 2022, through the combination of the aluminum can and foil business formerly operated by Showa Denko K.K. (now named Resonac Holdings Corporation) and the aluminum can and rolled and extruded products business of Mitsubishi Materials Corporation. ALTEMIRA is one of the first successful examples of sponsor-led industry consolidation in the Japanese industrials sector, demonstrating Apollo’s ability to execute a complex carve-out and support the subsequent transition to a fully independent, standalone enterprise and drive broader transformation and industry consolidation through M&A.
As a result, ALTEMIRA has emerged as a differentiated platform with scale, operating one of the world’s only vertically integrated, closed-loop aluminum recycling ecosystems—spanning used beverage can collection, processing, slab casting, rolling into coils and fabrication into beverage cans. Apollo Fund’s investment in ALTEMIRA also highlights its role as a trusted partner to Japan’s leading corporations, offering differentiated solutions to help businesses execute their strategic priorities in sectors that have historically been difficult for outside capital to access.
The transaction follows Apollo Funds’ successful exit of MAFTEC announced in June 2025. Apollo Funds’ private equity investments in Japan include Panasonic Automotive Systems and Nippon Sheet Glass (pending closing).
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, 2026, Apollo had approximately $1.03 trillion of assets under management. To learn more, please visit
www.apollo.com
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Contacts
Noah Gunn
Global Head of Investor Relations
(212) 822-0540
[email protected]
Joanna Rose
Global Head of Corporate Communications
(212) 822-0491
[email protected]
