이 기사는 2021년 09월 15일 07:56 thebell 에 표출된 기사입니다.

Solus Advanced Materials, owned by SkyLake Equity Partners, is set to split off its biomaterials business as the Seoul-based private equity firm ramps up efforts to add value to the company.

The newly created entity will be named Solus Biotech, with the separation expected to be completed on October 1, according to industry sources.

Solus Advanced Materials, formerly known as Doosan Solus, consists of two divisions: the copper foil business and the advanced materials business which includes electronic materials and biomaterials. Revenue from the divisions accounted for 166 billion won ($142 million) and 124 billion won respectively of the company’s total revenue of 290 billion won in 2020. The company recorded revenue of 180 billion won in the first half of this year.

Revenue from the copper foil business represents about two thirds of total revenue. But the advanced materials business generates a high margin with the division recording an operating profit of 26.5 billion won last year, compared with the 4 billion won in operating profit generated by the copper foil division in the same period.

As investor interest in the biotech sector grows, SkyLake has been approached by investors interested in investing in the company’s biomaterials business. “The split-off will enhance the business’s growth potential by facilitating investments from external sources,” said the company.

The new entity will have total assets of 47.2 billion won, liabilities of 17.2 billion won and shareholders’ equity of 30 billion won. Revenue generated by the separated business in the latest fiscal year was 42.3 billion won.

Solus Advanced Materials holds a strong position in the market for natural emulsifiers for pharmaceutical purposes. The company has obtained global certifications such as EcoCert/COSMOS and ISO 16128.

With more than 30 years of expertise in raw cosmetics materials, the company also supplies cosmetics emulsifiers to domestic and overseas customers. Its cosmetics ingredient products include ceramide, phytosphingosine and hydrogenated phosphatidylcholine. (Reporting by Hee-yeon Han)