Apollo Funds Acquire Majority Interest In Composite Advanced Technologies; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Apollo Funds has acquired a majority interest in Composite Advanced Technologies (CATEC), a Houston-based company that manufactures large format Type IV cylinders for natural gas and hydrogen applications. The financial terms of the deal were not disclosed.
August 22, 2023 | 12:05 pm
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Apollo Funds, represented by the ticker APO, has acquired a majority stake in CATEC. This could potentially expand Apollo's portfolio and diversify its investments.
Acquisitions often lead to an increase in the stock price of the acquiring company due to potential synergies and increased market share. In this case, Apollo Funds' acquisition of CATEC could potentially expand its portfolio and diversify its investments, which could be seen as a positive move by investors.
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