Founder Park Sang-jin acquires 51.03% of Starvision (OLENS) for KRW 420bn
- Deal value
- $290m
- Stake
- 51.03%
- Implied 100%
- $568m
- Revenue
- $63m
- Op. income
- $16m
- Multiples
- EQV/EBIT 36.4xPSR 9.1x
Deal value ÷ stake (structure unconfirmed)
2021 연결 · DART-verified
2021 연결 · DART-verified
On implied equity value
DART 20220330000059
- Target
- Starvision (OLENS) · Contact lens retail and manufacturing
- Buyer
- Founder Park Sang-jin · 기타
- Seller
- VIG Partners
- Structure
- —
- Announced
- Jul 4, 2022
- Closed
- —
- Stage
- Closed
Target
Starvision is a Korean contact lens company operating the OLENS brand, founded by Vice Chairman Park Sang-jin. VIG Partners acquired control in July 2018 through its Fund III.
Deal rationale
Reports said VIG Partners signed an SPA in January 2022 to sell its 51.03% controlling stake to founder and second-largest shareholder Park Sang-jin, with the price to be finalized after confirmatory due diligence on 2021 results. VIG CEO Lee Chul-min was reported as saying VIG agreed to sell in recognition that the founder's return was needed. Asia Economy (Aug 2026) reported VIG bought the stake from Park in 2018 for KRW 104.5 billion and exited at KRW 420 billion, the highest multiple (4.02x) in its Fund III.
| Revenue | $63m |
| Operating income | $16m |
| EBITDA | — |
| Net income | — |
2021 연결 · DART-verified · 20220330000059
Press coverage
- 아시아경제 (2026-08-07): “스타비젼 딜은 최종 4200억원에 매각되며 배수기준 최고 수익률(4.02배)을 기록했다.”
- 한국경제 (2022-07-04): “VIG파트너스의 스타비젼 인수(2300억원)”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.