Bain Capital acquires 43.66% of Echo Marketing for KRW 216.6bn
- Deal value
- $149m
- Stake
- 43.66%
- Implied 100%
- $342m
- Revenue
- $310m
- Op. income
- $31m
- Multiples
- EQV/EBIT 10.9xPSR 1.1x
Deal value ÷ stake (structure unconfirmed)
2025 연결 · DART-verified
2025 연결 · DART-verified
On implied equity value
DART 20260323001601
- Target
- Echo Marketing · Digital advertising & athleisure (Andar)
- Buyer
- Bain Capital · FI
- Seller
- CEO Kim Cheol-woong; AI Marketing Group
- Structure
- —
- Announced
- Dec 31, 2025
- Closed
- Mar 9, 2026
- Stage
- Closed
Target
KOSDAQ-listed online advertising agency (performance marketing) that also acquires and grows brands, including Daily&Co (Klug massagers, Mongje mattresses, 2017) and the athleisure brand Andar (56.93% stake, acquired 2021).
Deal rationale
Bain Capital, via SPC BCPE Avid Co One, agreed to buy 43.66% from CEO Kim Chul-woong and his wholly owned AI Marketing Group at KRW 16,000 per share (KRW 216.6bn) and launched a tender offer for the remaining 56.4% at the same price to pursue a voluntary delisting, saying the pricing gave minority shareholders the same control premium. At Bain's request Kim stays as CEO or adviser for a year after closing. Money Today reported Bain reached 95% in May 2026 after three tender offers and market purchases, with total investment reported at about KRW 500bn.
| Revenue | $310m |
| Operating income | $31m |
| EBITDA | — |
| Net income | — |
2025 연결 · DART-verified · 20260323001601
Press coverage
- 한국경제 (2026-01-01): “주당 1만6000원에 인수하는 내용의 계약을 체결했다”
- 딜사이트 (2026-01-14): “매매가격은 공개매수와 같은 주당 1만6000원으로 총 2166억원 규모다.”
- 머니투데이 (2026-08-13): “전체 투입 금액은 약 5000억원 규모로 알려졌다.”
- 아시아경제 (2026-02-28): “베인캐피탈이 확보한 에코마케팅 지분은 약 91% 수준이다.”
- DealStreetAsia(Reuters) (2026-01-02): “Bain Capital buying S Korean activewear firm Echo Marketing in $344m deal”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.