VIG Partners (Vienna SPC) acquires 34.76% of Viol for KRW 253.8bn
- Deal value
- $175m
- Stake
- 34.76%
- Implied 100%
- $504m
- Revenue
- $40m
- Op. income
- $25m
- Multiples
- EQV/EBIT 20.2xPSR 12.5x
Deal value ÷ stake (structure unconfirmed)
2024 별도 · DART-verified
2024 별도 · DART-verified
On implied equity value
DART 20250317000468
- Target
- Viol · Aesthetic medical devices (RF microneedling)
- Buyer
- VIG Partners (Vienna SPC) · FI
- Seller
- DMS and tendering shareholders
- Structure
- —
- Announced
- Jun 17, 2025
- Closed
- Jul 9, 2025
- Stage
- Closed
Target
KOSDAQ-listed aesthetic medical-device maker founded in 2009 that develops RF microneedling devices for skin lifting and wrinkle improvement (Sylfirm X, Scarlet) and consumables; listed in 2020 via a SPAC merger.
Deal rationale
VIG Partners said it would acquire DMS's 34.76% stake through SPC Vienna Investment Purpose Co. and tender for the remaining shares at KRW 12,500 to pursue a voluntary delisting (The Fact). DMS contributed its shares in kind to hold 46.09% of the SPC as second-largest shareholder; reports linked the sale to DMS's own delisting risk after an audit disclaimer on its 2024 report. Asiae reported LYFE Capital and Daishin PE as financial investors in the SPC's parent.
| Revenue | $40m |
| Operating income | $25m |
| EBITDA | — |
| Net income | — |
2024 별도 · DART-verified · 20250317000468
Press coverage
- 더팩트 (2025-06-21): “매수 규모는 1516억~4680억원이다.”
- 딜사이트 (2025-07-09): “VIG는 공개매수를 통해 비올 보통주 2848만8315주를 취득했다고 9일 밝혔다.”
- 스마트투데이 (2025-07-09): “공개매수 마감 결과 대상 지분의 76%만이 응모했고, VIG파트너스가 확보한 지분은 83.52%에 그치게 됐다.”
- 아시아경제 (2025-06-18): “소액주주에게도 경영권 프리미엄을 동일하게 제공하는 셈이다.”
- 아주경제 (2025-06-18): “주당 1만2500원… 전일 종가 1만1200원 대비 11.6% 프리미엄”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.