[Alpha Biz= Kim Jisun] SEOUL, August 11 — Private equity firm Hahn & Company has named TKG Taekwang as the preferred bidder for the sale of Solmix, a manufacturer of fine ceramics used in semiconductor and LCD production, according to investment banking industry sources. The two sides are currently in negotiations over the transaction value, which is estimated at between KRW 400 billion and KRW 500 billion.




Hahn & Company acquired Solmix in February 2023 for approximately KRW 330 billion, purchasing SK Enpulse’s fine ceramics division and subsequently rebranding it as Solmix. Since the acquisition, the company’s performance has improved significantly, with EBITDA more than doubling to over KRW 40 billion in 2023 and revenue rising from KRW 167 billion to KRW 188 billion.




The sale is reportedly aimed at managing semiconductor exposure within Hahn & Company’s fourth fund, which also invested KRW 2.63 trillion in SK Specialty and KRW 334.6 billion in SK Enpulse’s CMP pad business earlier this year.



Founded in 1980 by Chairman Park Yeon-cha, TKG Taekwang is an OEM and ODM manufacturer primarily focused on footwear, while also operating businesses in chemicals and materials. The company changed its name from Taekwang Industrial in December 2021.

 

 

 

 

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