South Korea’s largest private equity firm Hahn & Company announced that it has signed definitive agreements with Mr. Haelyung Hwang, Founder and CEO of Lutronic, to jointly launch a tender offer for all remaining shares of the Company for a total consideration of ₩957.0bn ($735.9m).
Established in 1997, Lutronic is a global maker of aesthetic medical devices with revenues of over ₩264bn in 2022. The Company has a rapidly growing global presence with 40% of revenues from the United States and 35% from Europe and the Middle East.
This transaction further builds on Hahn & Co.’s track record of investing in Korean businesses that can transform globally. Hahn & Co. is the largest private equity firm in Korea with over $27bn invested to date. Lutronic will represent Hahn & Co.’s thirty-fourth investment in the country.
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Mr. Hwang said, “Partnering with Hahn & Co. paves the way for Lutronic’s brighter future. I am confident that this partnership will accelerate Lutronic’s ascension as the leading and dominant player in the aesthetics space.”
“Hahn & Co. is excited to partner with Mr. Hwang and his team to propel Lutronic to the next stage of its development. Lutronic is one of Korea’s hidden champions with the potential to become a global leader in its market,” said Scott Sang-Won Hahn, CEO of Hahn & Co.
Source: PR Newswire
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