IMM Private Equity (IMM RoseGold IV; Lotte Shopping as strategic LP) to acquire 27.7% of Hanssem for KRW 1.45tn
- Deal value
- $1.0bn
- Stake
- 27.7%
- Implied 100%
- $3.6bn
- Revenue
- $1.4bn
- Op. income
- $64m
- Multiples
- EQV/EBIT 56.2xPSR 2.5x
Deal value ÷ stake (structure unconfirmed)
2020 연결 · DART-verified
2020 연결 · DART-verified
On implied equity value
DART 20210319001191
- Target
- Hanssem · Furniture and interior
- Buyer
- IMM Private Equity (IMM RoseGold IV; Lotte Shopping as strategic LP) · FI
- Seller
- Founder Cho Chang-geol and 7 related parties
- Structure
- —
- Announced
- Oct 25, 2021
- Closed
- —
- Stage
- Signed
Target
Hanssem, founded in 1970, is Korea's largest furniture and interior company, listed on KOSPI, with remodeling (Rehaus), home furnishing and online businesses.
Deal rationale
No reason for the sale by honorary chairman Cho Chang-gul was reported. Lotte Shopping invested KRW 299.5bn as strategic investor in IMM PE's fund, saying it expected growth as Hanssem expands into smart home, rental and brokerage platforms and saw group-level synergies with Hi-Mart and Lotte E&C. Per The Economist (Korea), Lotte holds a right of first refusal on IMM's exit. IMM signed an MOU (30.21%) in July 2021 and the SPA (27.7%, KRW 1.45tn) on Oct 25, 2021.
| Revenue | $1.4bn |
| Operating income | $64m |
| EBITDA | — |
| Net income | — |
2020 연결 · DART-verified · 20210319001191
Press coverage
- 뉴스토마토 (2021-10-25): “매매대금은 1조4500억원, 매수인은 아이엠엠로즈골드4 사모투자 합자회사다.”
- 더구루 (2021-10-26): “매각 주식은 전체 주식수의 27.7%에 해당하는 보통주 652만 주다.”
- 이코노미스트 (2021-09-14): “출자 금액은 2995억원… 한샘 지분 약 5%를 확보하게 됐다”
- 아이뉴스24 (2021-09-10): “한샘이 스마트홈, 렌탈사업, 중개플랫폼 등 다양한 사업 분야로 비즈니스 영역을 넓히고 있는 만큼 더 큰 성장이 기대된다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.