Hoban Industrial (Hoban Group) to acquire 40% of Taihan Electric Wire for KRW 251.8bn

SI Industrials Wire and cable manufacturing

Deal value: $174m
Stake: 40%
Implied 100%: $434m
Revenue: $1.1bn
Op. income: $39m
Multiples: EQV/EBIT 11.1xPSR 0.4x

DART 20210318001288

Target: Taihan Electric Wire · Wire and cable manufacturing
Buyer: Hoban Industrial (Hoban Group) · SI
Seller: IMM Private Equity (via Nike SPC)
Structure: —
Announced: Mar 29, 2021
Closed: —
Stage: Signed

Target

Taihan Electric Wire, founded in 1955 as Korea's first integrated cable maker and the industry's No.2, came under creditor management in 2009 after over-expansion into non-core businesses; IMM PE took control in 2015 via a KRW 300 billion rights issue. It posted consolidated 2020 revenue of KRW 1.5968 trillion and operating profit of KRW 56.6 billion.

Deal rationale

IMM PE described Hoban as a strategic investor with proven management capability in the domestic construction market and said Hoban's financial strength would let Taihan enter high-growth businesses such as HVDC and submarine cables. Hoban Group said it had been diversifying for years and expected synergies between cables and construction (FN News). Reports said IMM PE bought 71.51% in 2015 for about KRW 300 billion, normalized the company over roughly five to six years, and recouped its investment through this sale; Hoban reportedly pledged five years of job security and to keep the company name. The SPA (29 March 2021) covers about 342.59 million shares (40%) held via SPC Nike at KRW 735 per share, KRW 251.8 billion in total.

PE 회수(펀드 만기)신사업 진출

Revenue	$1.1bn
Operating income	$39m
EBITDA	—
Net income	—

2020 연결 · DART-verified · 20210318001288

Press coverage

비즈니스워치 (2021-03-30): “경영권을 포함한 보유 지분 전체를 2518억원에 매각하는 주식매매계약(SPA)를 호반그룹과 체결했다”
파이낸셜뉴스 (2021-03-29): “지분 40%에 대한 인수 금액은 약 2518억원 규모다.”

This is a data entry summarising filings and press reports. Please check the original sources for the figures.