Homegrown IMM PE grabs eyeballs The PE firm successfully exits Tailim Packaging with IRR of 22.3 percent
Translated by Kim So-in 공개 2019-10-22 08:00:00
이 기사는 2019년 10월 22일 08:00 thebell 에 표출된 기사입니다.
South Korea's homegrown private equity (PE) firm, IMM Private Equity has drawn a lot of attention from investors in the nation's mergers and acquisition (M&A) market lately as the PE firm successfully exits Tailim Packaging.According to industry sources on October 16, South Korean clothing maker Sae-A Trading and IMM PE signed a share purchase agreement (SPA) on October 15. The deal price reportedly is 730 billion won and the transaction is expected to be completed by January, 2020.
The latest deal involves all shares of Tailim Packaging that IMM PE owns and a 100% stake in Tailim Paper. Considering the acquisition loans and dividends, it is said that IMM PE generated a 2.3x return on capital invested in Tailim Packaging.
In July 2015, IMM PE purchased some 41.7 million shares of Tailim Packaging and some 13.7 million shares of Tailim Paper for a total of 349 billion won.
Back then, IMM PE's two blind funds, RoseGold II and RoseGold III invested 160 billion won and 120 billion won, respectively in the Trinity One, a special purpose company that IMM PE established. The remaining 70 billion won was financed through an acquisition loan. It is said the balance left on the acquisition loan is 120 billion won.
Since its investment in Tailim Packaging in 2015, IMM PE has collected a total of 100 billion won in dividends. Once the seller, IMM PE, receives 730 billion won from Sae-A Trading, the PE firm's internal rate of return (IRR) on the Tailim Packaging investment will be equal to 22.3 percent.
The industry experts say the PE firm's exit from Tailim Packaging is quite meaningful due to its size. Although a sale of domestic windshield wiper maker CAP in 2017 was IMM PE's first exit of buyout investment, the latest deal is considered to be more important, as the deal size of CAP was only 42 billion won.
IMM PE currently is working on creating a two trillion won worth new blind fund.
(By reporter Rho Arrum)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
best clicks
최신뉴스 in 전체기사
-
- 우리금융 "롯데손보 M&A, 과도한 가격 부담 안한다"
- 신한캐피탈, 지속성장 포트폴리오 리밸런싱 체계 강화
- 하나금융, ELS 악재에도 실적 선방…확고한 수익 기반
- 하나금융, 자본비율 하락에도 주주환원 강화 의지
- 국민연금, '역대 최대 1.5조' 출자사업 닻 올렸다
- [도전 직면한 하이브 멀티레이블]하이브, 강한 자율성 보장 '양날의 검' 됐나
- [퍼포먼스&스톡]꺾여버린 기세에…포스코홀딩스, '자사주 소각' 카드 재소환
- [퍼포먼스&스톡]LG엔솔 예견된 실적·주가 하락, 비용 절감 '집중'
- [퍼포먼스&스톡]포스코인터, 컨센서스 웃돌았지만 주가는 '주춤'
- 신한금융, ‘리딩금융’ 재탈환에 주주환원 강화 자신감