Deal Marks Apollo’s First Private Equity Investment in Japan as Firm Expands Investment Activity in the Region
Transaction Leverages Apollo’s Global Metals and Packaging Expertise and Carve-out Experience
TOKYO and HONG KONG and NEW YORK, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Funds managed by affiliates of Apollo Global Management, Inc. (together with its consolidated subsidiaries, “Apollo” or the “Firm”) (NYSE: APO), a leading global alternative investment manager, today announced that they have entered into a definitive agreement to acquire the Aluminum Can and Aluminum Rolling Businesses (the “Business”) from Showa Denko K.K. (“Showa Denko”), a Japanese leading producer of functional chemicals and industrial materials. The deal marks the first Private Equity investment in Japan for Apollo after the Firm opened its dedicated office there last year to facilitate more investment in the region.
The transaction with Showa Denko presents an opportunity to invest in high-quality assets with multi-pronged growth opportunities in Japan as well as in the broader Asia market. Apollo will leverage its global expertise in both the metals and packaging industries to help unlock value amid a complex market environment, as well as apply its corporate carve-out experience to position the proforma independent business for future growth.
Steve Martinez, Senior Partner and Head of Asia Pacific at Apollo, said, “Through this transaction, we are pleased not only to access highly attractive assets on behalf of our investors, but also to have worked with Showa Denko to structure a carve-out conducive to their long-term strategy. This investment demonstrates the flexibility and value that Apollo can bring to Japan and surrounding markets, where we are committed to expanding our presence.”
“Showa Denko’s Aluminum Cans and Aluminum Rolling Businesses have established positions in the Japan market, where we expect to see increased demand for their products, and are well positioned to capture significant growth in the greater Asia region as well. We are excited to leverage our experience and resources to support the Business and its management team in this next phase of growth,” said Tetsuji Okamoto, Partner and Head of Japan at Apollo.
Subject to satisfaction of customary closing conditions including regulatory approvals, the transaction is expected to be completed by August 2021.
Bank of America acted as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP alongside Anderson Mori & Tomotsune as legal advisors to Apollo Funds.
About Apollo
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. Apollo had assets under management of approximately $433 billion as of September 30, 2020 in credit, private equity 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.apollo.com.
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