Genesis PE acquires 81.29% of AJ Daewon for KRW 22.5bn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $16m
- Stake
- 81.29%
- Implied 100%
- $19m
- Revenue
- —
- Op. income
- —
- Multiples
- —
Deal value ÷ stake (structure unconfirmed)
- Target
- AJ Daewon · Residential property management
- Buyer
- Genesis PE · FI
- Seller
- AJ Networks
- Structure
- —
- Announced
- Jul 4, 2025
- Closed
- —
- Stage
- Closed
Target
AJ Daewon is a housing-management company servicing apartments, mixed-use complexes, officetels and buildings — about 740 complexes and 490,000 households nationwide, ranked second in the sector per reports. AJ Networks bought the former Daewon Comprehensive Management in November 2019 and renamed it; after the sale it became Daewon Estate Service.
Deal rationale
According to The Fact, Genesis PE bought control of AJ Daewon for KRW 22.5bn as an extension of a bolt-on strategy in construction and real estate services, after acquiring GS Elevator and Xi Energy Operation in late 2024 and pursuing Xi S&D's housing-management unit. Hankyung (July 2026) reported Genesis PE combined AJ Daewon with Xi S&D's housing unit, Gwangin Total Management and Pureun Housing Management into a roll-up that is now No. 1 in the Seoul metro area, aiming to maximize synergies. AJ Networks' reason for selling was not stated.
Press coverage
- 더팩트 (2025-07-12): “인수금액은 225억원이다.”
- 한국경제 (2026-07-01): “제네시스PE는 같은해 AJ네트웍스의 자회사 AJ대원도 약 225억원에 인수했다.”
- 아시아경제 (2025-11-19): “지난해 8월 AJ메인터넌스파트너스, 지난 7월 AJ대원 등 매각에 따른 매출 감소에도 불구하고 성장세를 보였다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.