이 기사는 2022년 02월 08일 08시11분 thebell에 표출된 기사입니다

Hahn & Company, one of the biggest clients in South Korea’s acquisition financing space, is working with NH Investment & Securities and Hana Bank, the Seoul-based private equity firm’s longtime partners, to recapitalize its portfolio companies.

Hana Bank and NH Investment & Securities represent Hahn & Co in arranging recapitalizations of K Car, the country’s top used car retailer, and biofuel manufacturer SK Eco Prime, respectively, according to sources.

It’s the first recapitalization of K Car since the company went public on the Kospi in October last year. A 500 billion won ($416.7 million) recapitalization will be solely arranged by Hana Bank.

The lender led an effort to finance the takeover of the used car seller, formerly SK Encar’s offline division, by Hahn & Co in 2018. It also arranged an 80 billion won debt financing for the buyout firm’s acquisition of Joy Rent a Car, CJ Group’s car rental unit, which later merged into K Car.

Hahn & Co is recapitalizing SK Eco Prime for the first time since it bought the company, formerly SK Group’s biofuel business, in May 2020 for 382.5 billion won. Of the acquisition costs, 230 billion won was funded through debt financing, which was at the time jointly arranged by NH Investment & Securities and Hana Bank.

SK Eco Prime’s recapitalization, worth 350 billion won, will be solely arranged by NH Investment & Securities, likely helping the brokerage firm rank towards the top of league tables.

Hahn & Co, which focuses on buyouts and corporate restructurings in South Korea, has longstanding relationships with the two financial services firms, working with them on several deals in the past years.

Last year, the two firms helped Hanon Systems and SK Shipping refinance their debt, worth 1.92 trillion won and 1.2 trillion won respectively, with NH Investment & Securities taking a leading role. Both high-profile industrial companies are owned by Hahn & Co.

Hana Bank also helped Hahn & Co replace investors in H-Line Shipping with new ones in 2020, with the lender itself committing capital to a fund investing in the company. (Reporting by Hyo-jung Lim)