KKR / TY Holdings (50:50) acquires 50% of Ecorbit (merger of TSK Corp. and KKR's Eco Solution Group)
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- —
- Stake
- 50%
- Implied 100%
- —
- Revenue
- —
- Op. income
- —
- Multiples
- —
- Target
- Ecorbit (merger of TSK Corp. and KKR's Eco Solution Group) · Waste management and water treatment
- Buyer
- KKR / TY Holdings (50:50) · FI
- Seller
- TY Holdings (TSK stake) / KKR (ESG stake)
- Structure
- —
- Announced
- Aug 23, 2021
- Closed
- —
- Stage
- Closed
Target
Ecorbit was formed in October 2021 by merging TSK Corporation (landfill and water treatment, a TY Holdings subsidiary) with KKR-owned Eco Solution Group (medical and industrial waste), creating Korea's largest comprehensive environmental company handling general and medical waste and wastewater.
Deal rationale
According to The Economist Korea, TY Holdings and KKR each held 50% of the merged entity, and Taeyoung Group reportedly planned to transform Ecorbit into a leading comprehensive environmental platform. Asiae reported that in 2024 TY Holdings sold its stake as part of Taeyoung E&C's workout self-rescue plan and repaid a KRW 400bn KKR loan at 13% interest. No official merger rationale quote from the parties was found.
Press coverage
- 아시아경제 (2024-08-26): “2021년 태영그룹의 TSK코퍼레이션과 글로벌 사모펀드 콜버그크래비스로버츠(KKR)의 에코솔루션그룹이 합병해 출범한”
- 딜사이트 (2021-08-23): “신설법인의 지분을 TSK코퍼레이션의 또 다른 주주인 태영그룹과 50대 50씩 나눠가질 예정이다”
- 이코노미스트 (2022-02-04): “㈜에코비트는 지난해 10월 티와이홀딩스 자회사인 매립‧수처리 전문업체 TSK코퍼레이션과 KKR이 인수한 … 에코솔루션그룹(ESG)을 합병한 회사다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.