US firm AMG takes over Bogala Graphite’s owning company of German origin

Monday, 10 November 2025 03:33 - - {{hitsCtrl.values.hits}}

AMG Critical Materials N.V. (AMG) and Asbury Carbons Inc. (Asbury Carbons) have announced the signing of a definitive agreement for AMG to sell Graphit Kropfmühl GmbH (GK) to Asbury Carbons, a portfolio company of Mill Rock Capital.

The transaction reflects an enterprise value of $ 65 million.

GK operates its own graphite mine at its headquarters in Kropfmühl, Germany, and holds a majority stake in a graphite mine in Sri Lanka. Asbury Carbons will assume all GK operations, including approximately 350 employees. For the 12 months ended August 2025, GK generated $ 65 million in revenue.

With this transaction, AMG completes its exit from the natural graphite business. Graphit Kropfmühl GmbH owned 86/46% stake in Bogala Graphite Lanka PLC. The share price of Bogala Graphite Lanka PLC yesterday closed at Rs. 137, up by 25% or Rs. 27.25.

AMG Critical Materials CEO and Chairman of the Management Board Dr. Heinz Schimmelbusch said: “The sale of GK highlights AMG’s commitment to proactive portfolio management. Natural graphite remains an attractive business, but we have not been able to establish GK as a leading supplier to the battery anode market. We are confident that GK will find greater opportunities as part of Asbury Carbons’ graphite portfolio. Meanwhile, AMG will use the proceeds from this transaction to strengthen its balance sheet and focus on its core growth businesses.”

This transaction follows AMG’s repurchase of the remaining 40% interest in GK from Alterna Capital Partners on 12 March 2025. The terms of that transaction remain unchanged: the purchase price may be settled by AMG in cash at the end of a three-year period or in AMG shares at any time within those three years, at AMG’s discretion.

Headquartered in Asbury, New Jersey, Asbury Carbons is a global leader in carbon-based solutions serving industrial markets, employing more than 300 people across 10 production facilities in North America and Europe.

Asbury Carbons CEO and Chairman of the Board Gregg Jones said: “This combination unites two market leaders in carbon solutions, together representing more than 250 years of history and expertise in the industry. We look forward to expanding our service, strengthening supply chain security and delivering new technologies and solutions to our customers worldwide.”

The transaction is subject to customary regulatory approvals, and AMG and Asbury Carbons expect the sale to close by year-end 2025.