이 기사는 2022년 02월 04일 07시47분 thebell에 표출된 기사입니다

Macquarie Korea Asset Management is working to increase the value of Deokyang, South Korea’s biggest hydrogen producer acquired by the Australia-headquartered firm last December, further expanding its presence in the country’s industrial gas sector.

The private equity firm has recently appointed the hydrogen company’s leadership team and refreshed the board of directors as part of post-acquisition integration, according to industry sources.

The acquisition of Deokyang, based in Ulsan, marks Macquarie’s first buyout transaction in South Korea’s hydrogen sector and is a bet on the growing interest in hydrogen globally.

The deal was one of the most notable investments at the group level, with Peter Durante, managing director of Macquarie Infrastructure & Real Assets Europe, joining Deokyang’s board of directors.

Major industrial gas companies in the global market normally produce and supply all types of industrial gases like argon, carbon dioxide and hydrogen. However in South Korea, there are few such players, with many companies purchasing industrial gases they need from different suppliers.

Macquarie intends to transform the South Korean hydrogen producer into a comprehensive industrial gas supplier by creating synergies with its existing portfolio companies such as DIG Airgas, formerly known as Daesung Industrial Gases, and Seorabeol City Gas. This could help the company expand its customer base by enabling it to offer turnkey contracts.

As Macquarie puts an emphasis on environmental, social and governance (ESG) issues, Deokyang is also working to address the need for hydrogen in a more environmentally friendly way, with its plans to produce blue hydrogen, which captures the carbon dioxide emissions, and green hydrogen, which is derived from renewable sources.

Macquarie aims to complete post-acquisition integration of Deokyang as soon as the first half of this year. (Reporting by Seon-young Kim)