M&A Deal Summary

HarbourVest Partners and Hahn & Company Acquire SK shipping

On October 10, 2018, private equity firms HarbourVest Partners and Hahn & Company acquired transportation company SK shipping for 3.7B USD

Acquisition Highlights
  • This is HarbourVest Partners’ 2nd and Hahn & Company’s 2nd transaction in the Transportation sector.
  • This is HarbourVest Partners’ 15th and Hahn & Company’s largest (disclosed) transaction.
  • This is HarbourVest Partners’ 1st and Hahn & Company’s 8th transaction in South Korea.

M&A Deal Summary

Date 2018-10-10
Target SK shipping
Sector Transportation
Buyer(s) HarbourVest Partners
Hahn & Company
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 3.7B USD

Target

SK shipping

Seoul, South Korea
SK shipping provides shipping services that includes transporting crude oil, gas carrier, dry bulk, ocean bunkering and ship management services. SK shipping was founded in 1982 and is based in Seoul, South Korea.

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Buyer(S) 2

Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 188 of 223
Sector (Transportation) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 41 of 41
Country (South Korea) 1 of 1
Year (2018) 21 of 25
Size (of disclosed) 15 of 68
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-10 Link Mobility

Oslo, Norway

Link Mobility is a provider of mobile communications, specializing in messaging, digital services and data intelligence. LINK offers a wide range of innovative and scalable solutions across industries and sectors, creating valuable digital convergence between businesses and customers, platforms and users. Link Mobility was founded in 2000 and is based in Oslo, Norway.

Buy €357M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-31 McLarens

Peachtree Corners, Georgia, United States

McLarens is a global insurance services provider with offices and operations strategically located around the world. With a focus on complex, commercial and niche markets, McLarens provides loss adjusting and claims management services, as well as auditing and pre-risk surveying. The company’s global footprint enables it to provide streamlined consistent service to global customers, while at the same time delivering local expertise and responsive service. McLarens was founded in 1931 and is based in Peachtree Corners, Georgia.

Buy -
Buyer

Hahn & Company

Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Hahn & Company is a South Korean private equity firm focused on acquiring majority positions in companies. The Firm does not have any sector preferences and looks to have direct and active involvement in the companies acquired. Hahn & Company was formed in 2010 and is based in Seoul.


DEAL STATS #
Overall 8 of 11
Sector (Transportation) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 2 of 3
Country (South Korea) 8 of 11
Year (2018) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-26 Hyundai Heavy Industries - Hotel Hyundai

South Korea

Hyundai Heavy Industries (HHI) - Hotel Hyundai Owns and/or manages four 5-star hotels in Gyeongju, Ulsan, Mokpo, and Gangneung. Hyundai Heavy Industries (HHI) - Hotel Hyundai is based in South Korea

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-31 Korean air Catering & Duty free

Seoul, South Korea

Korean air Catering & Duty free is an in-flight meal production company which has production facilities in Korea and is also engaged in in-flight duty free sales. Korean air Catering & Duty free is based in Seoul, South Korea.

Buy ₩990.6B