IMM PE bolsters presence with major buyout exits Homegrown PE firm fully exit five investments of 10 buyout deals since its inception
Translated by Ryu Ho-joung 공개 2021-04-06 07:54:18
이 기사는 2021년 04월 06일 07:49 thebell 에 표출된 기사입니다.
IMM Private Equity (IMM PE) is bolstering its presence in the buyout space after striking a deal to sell its majority stake in online fashion platform W Concept to Shinsegae Group’s SSG.com for about 200 billion won ($177.3 million).The deal, which is expected to complete later this month, will generate a 30% internal rate of return for IMM PE. With the sale, the homegrown private equity firm has fully exited five of the 10 buyout deals in which it has invested since its inception.
The acquisition of auto parts supplier CAP Corp in 2010 was the Seoul-based firm’s first buyout deal. It was one of the investments from IMM PE’s first flagship fund, IMM RoseGold I, which closed at 312.5 billion won in 2008. Seven years later, CAP was sold to a consortium led by smartphone parts maker NPD.
IMM PE started to focus on buyout deals in 2012, when its second fund closed at 755.6 billion won, more than double its predecessor. Major buyout investments made from the fund included Hollys Coffee, Hyundai LNG Shipping, cable maker Taihan Electric Wire and Tailim Packaging.
Hollys Coffee and Tailim Packaging were fully exited last year, with each sold to KG Group and Sae-A Trading. IMM PE also announced last week that it agreed to sell its entire 40% stake in Taihan Electric Wire to Hoban E&C in a 251.8 billion won deal that is expected to close in May.
The firm’s third fund, which closed in 2015 with 1.25 trillion won in commitments, invested in buyout transactions involving cosmetics maker Able C&C and W Concept. The third fund also bought industrial gas supplier AirFirst – formerly known as Linde Korea – in 2019 for 1.3 trillion won, IMM PE’s first deal worth more than the 1 trillion won mark.
IMM PE last year completed two buyout investments in travel agency HanaTour and Kolmar Korea’s pharmaceutical business through its 2 trillion won fourth flagship fund despite the Covid-19 pandemic that affected dealmaking.
The investment firm also launched a private debt business, IMM Credit Solutions, last year to separate buyout deals from minority stake investments. IMM Credit Solutions seeks mid-risk, mid-return by investing in various debt securities such as asset-backed securities and collateralized loan obligations, as well as direct lending and mezzanine debt. (Reporting by Si-eun Park)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
best clicks
최신뉴스 in 전체기사
-
- 빗썸, 격변 대신 '현상유지' 선택…경영효율화 '초점'
- [모태 2024 1차 정시출자]키움인베·위벤처스, 스케일업·중견도약 GP 확정
- [SK그룹 리밸런싱 스토리]그린 밸류체인 '각개전투', 철수와 유지 사이
- [기후테크 스타트업 돋보기]'폐기물 로봇' 에이트테크, IPO 나선다…주관사 KB증권
- [대성창투는 지금]모태·성장금융 잇단 GP 반납, '주홍글씨' 여파는
- [코스닥 주총 돋보기]파두, 신규 데이터센터 2곳 확보 '사정권'
- [코스닥 주총 돋보기]파두 "유증 당분간 없다"…흑자전환 '총력'
- 앱솔루트운용, 부산신항펀드 4년째 환매 지연 '어쩌나'
- 타이거운용, 목표달성형 펀드 청산 릴레이
- 한투운용, 'MyFolio'로 고객 기반 확대 잰걸음