DTR Automotive (via GMT Holdings) acquires 100% of Doosan Machine Tools for KRW 2.4tn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $1.7bn
- Stake
- 100%
- Implied 100%
- $1.7bn
- Revenue
- —
- Op. income
- —
- Multiples
- —
Deal value ÷ stake (structure unconfirmed)
- Target
- Doosan Machine Tools · Machine tool manufacturing
- Buyer
- DTR Automotive (via GMT Holdings) · SI
- Seller
- MBK Partners
- Structure
- —
- Announced
- Aug 13, 2021
- Closed
- —
- Stage
- Closed
Target
Doosan Machine Tools, formed in 2016 when MBK Partners bought Doosan Infracore's machine-tool division, manufactures machining and turning centers; it was renamed DN Solutions after the acquisition.
Deal rationale
KED Global reported DTR Automotive bought the company to diversify its portfolio and broaden its customer base beyond auto parts (40% of sales), projecting over KRW 3tn in sales and KRW 400bn EBITDA post-deal. Seller MBK had bought the unit from Doosan Infracore in 2016 for KRW 1.13tn, withdrew an IPO in 2018 and failed to sell in 2019; DTR beat Sae-A with a higher bid in 2021. The deal ran through SPC GMT Holdings (KRW 120.2bn equity), and NICE flagged leverage concerns.
Press coverage
- KED Global(한국경제) (2021-08-13): “MBK Partners signed a share purchase agreement (SPA) with DTR Automotive”
- 매일경제(Pulse) (2022-01-14): “to buy a 100-percent stake in Doosan Machine Tools for 2.4 trillion won”
- 딜사이트 (2022-04-14): “디티알오토모티브에 두산공작기계 지분 100%를 약 2조4000억원에 매각하는 계약을 체결했다”
- 딜사이트 (2021-08-27): “디티알오토모티브가 2조4000억원에 달하는 두산공작기계 인수자금 확보에 착수했다.”
- 딜사이트 (2021-08-18): “두산공작기계가 보유한 순차입금을 차감하고 순운전자본을 가감한 후 최종 인수대금을 지급할 예정”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.