M&A Deal Summary

VIG Partners Acquires Eastar Jet

On January 6, 2023, private equity firm VIG Partners acquired airliner Eastar Jet for 35.0B KRW

Acquisition Highlights
  • This is VIG Partners’ 1st transaction in the Airlines sector.
  • This is VIG Partners’ 4th largest (disclosed) transaction.
  • This is VIG Partners’ 20th transaction in South Korea.

M&A Deal Summary
Date 2023-01-06
Target Eastar Jet
Sector Airlines
Buyer(s) VIG Partners
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 35.0B KRW

Target

Eastar Jet

Seoul, South Korea
Eastar Jet is a low-cost airline that operates services to regional destinations such as Cheongju(RKTU) and Gunsan(RKJK). Its main base is Gimpo International Airport, with a hub at Jeju International Airport, Seoul. Eastar Jet was founded in 2007 and is based in Seoul, South Korea.

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Buyer(S) 1

Buyer

VIG Partners

Seoul, South Korea

Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Vogo Investment is a Korean buyout fund focused on control and significant minority equity investments in a broad range of Korean companies. The Firm generally targets transactions requiring equity of $50 to $300 million and works closely with management to streamline operations and locate growth opportunities. Broad areas of interest include consumer products, financial services, electronics, mobile commerce, and insurance. VIG Partners was formerly known as Vogo Investment Group. VIG was formed in 2005 and is based in Seoul.

DEAL STATS #
Overall 20 of 21
Sector (Airlines) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 17 of 18
Country (South Korea) 20 of 21
Year (2023) 1 of 1
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-28 Bodyfriend

Seoul, South Korea

Bodyfriend is the dominant player in the Korean massage chair industry with the preeminent brand in the industry supported by unrivalled marketing and advertisement spending. Bodyfriend also launched premium latex mattress and non-electric water purifiers to drive additional growth. Bodyfriend is based in Seoul, South Korea.

Sell ₩417.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-01 Daewon Green Bio

North Chungcheong, South Korea

Daewon Green Bio is a food waste collecting and processing business based in the North Chungcheong Province, South Korea.

Buy ₩60.0B
Mergr

Product

Company

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