SG Private Equity acquires 100% of Korea Special Gases for KRW 145bn
- Deal value
- $100m
- Stake
- 100%
- Implied 100%
- $100m
- Revenue
- $28m
- Op. income
- $5m
- Multiples
- EQV/EBIT 20.1xPSR 3.6x
Deal value ÷ stake (structure unconfirmed)
2022 별도 · DART-verified
2022 별도 · DART-verified
On implied equity value
DART 20230406002083
- Target
- Korea Special Gases · Industrial gases and liquefied CO2
- Buyer
- SG Private Equity · FI
- Seller
- CEO Seo Heung-nam (97%) and other shareholders (3%)
- Structure
- —
- Announced
- Apr 25, 2023
- Closed
- —
- Stage
- Closed
Target
Korea Special Gases, founded in 1994 and based in Jeonbuk, manufactures and fills industrial gases, operating two high-pressure filling stations in Iksan, liquefied CO2 plants in Boryeong and Gunsan, a Gwangyang plant and a gas inspection agency, and converts captured CO2 into liquid carbonic acid (CCUS).
Deal rationale
Herald Economy reported SG PE saw room for higher profitability by adding CO2 manufacturing to a stable industrial-gas distribution cash flow, and that the deal marks its expansion from minority/mezzanine into buyouts. Gas News said improved earnings at the carbonic-acid-equipped company drew PE interest. The seller is founder and largest shareholder Seo Heung-nam (97%); exclusive talks began in September 2022.
| Revenue | $28m |
| Operating income | $5m |
| EBITDA | — |
| Net income | — |
2022 별도 · DART-verified · 20230406002083
Press coverage
- 헤럴드경제 (2023-04-25): “SG PE, 1500억원에 한국특수가스 경영권 인수 완료”
- 가스신문 (2023): “사모펀드운용사, 가스회사 또 품었다”
- 헤럴드경제 (2023-04-25): “SG PE는 한국특수가스 인수를 위해 지난해 9월부터 단독으로 협상을 진행해 왔다.”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.