November 29, 2024

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Hahn & Co. CEO Hahn Sang-won

Hahn & Company, a South Korean private equity firm, said Friday it acquired the industrial film business of SKC, an affiliate of South Korea’s SK Group, in a deal worth 1.6 trillion won ($1.2 billion). The deal is the largest merger and acquisition transaction closed in the country this year.

SKC's industrial film business posted revenue of 1.2 trillion won in 2021, making it the largest domestically and the fourth largest globally in its sector.

In June, Hahn & Co. and the SK Group signed agreements in June for the Seoul-based private equity firm to acquire 100 percent of the industrial film business.

“This transaction represents an important milestone in what has been highly volatile M&A markets globally and within Korea. We are excited to further expand SKC’s industrial film business globally and catapult the business to the next level of technological excellence and competitiveness,” said Hahn & Co. CEO Hahn Sang-won.

The deal represents Hahn & Co.’s fourth acquisition in Korea since the outbreak of the COVID-19 pandemic, meanwhile M&A activity in Korea has markedly slowed during this period and grinded to a halt in the second half of this year.

The transaction also represents Hahn & Co.’s 33rd acquisition total in Korea with over $27 billion invested, making it the largest private equity buyout firm within Korea since the company was established in 2010.

By Jie Ye-eun (yeeun@heraldcorp.com)