ST. LOUIS /PRNewswire/ — As previously announced, Vectra Co. (Vectra), a portfolio company of certain funds managed by affiliates of Apollo Global Management, has signed a definitive agreement to sell its EaglePicher business. The transaction is structured as a sale of Vectra Co., the parent company of EaglePicher. Vacuumschmelze, Vectra’s magnetic technologies business, will be separated immediately prior to closing and will continue to be owned by affiliates of Apollo Global Management going forward. Substantially concurrently with the sale, Vectra intends to repay its existing corporate indebtedness.
About Vectra Co.
VECTRA is a technology-driven diversified industrial company serving attractive global markets, including automotive systems, electronic devices, aerospace and defense, industrial and medical. Its business platforms use technology to address customers’ complex applications and demanding requirements. For more information, visit Vectra’s website at www.vectraco.com
About Apollo Global Management
APOLLO is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management (AUM) of approximately $242 billion as of September 30, 2017 in private equity, credit and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.
VAC, a VECTRA company, develops, manufactures and distributes differentiated, highly-specialized magnetic alloys, materials and components with exceptional magnetic and/or physical properties for a wide array of end markets and applications, including automotive systems, electrical installation technology, energy conversion and distribution, industrial automation/robotics, retail and renewable energy. For more information, visit VAC’s website at http://www.vacuumschmelze.com/