BDA advises Hyosung on the sale of Hyosung Capital to ST Leaders

BDA Partners is pleased to announce that its client, Hyosung Corporation (“Hyosung”), has sold Hyosung Capital to ST Leaders Private Equity, an emerging Korean financial sponsor.  

Hyosung Capital is the specialized credit finance unit of Hyosung, focused on leasing and rental businesses across multiple sectors. Hyosung Capital offers a diversified portfolio of traditional lease and rental services to alternative investments, based on best-in-class risk management and core competence in new market development.

Hyosung Capital achieved a record profit in Q3 2020, notwithstanding the COVID-19 pandemic, driven by a well-balanced portfolio and outstanding credit management.

The sale was valued at greater than US$340m for 97.5% in Hyosung Capital, after strong competition from several bidders. The final price is equivalent to more than 1.0x book value at the closing date.

BDA Partners was the exclusive financial advisor to Hyosung on the transaction.

Charlie Maynard, Senior Managing Director and co-founder of BDA Partners, commented, “We’re very pleased to have worked for Hyosung to help consummate this transaction, and to secure attractive terms for a key client. We are pleased that BDA has added real value for Hyosung by achieving a strong outcome. We will continue to do so, going forward.”

Howard Lee, Managing Director and Head of Seoul at BDA Partners, commented, “We’re proud to have advised Hyosung Corporation on its successful divestment. The transaction continues the strong momentum for our FIG practice, and demonstrates the depth of our relationships and experience in the Korean M&A market, connecting blue chip corporates with the most ambitious private equity firms. BDA Partners has successfully driven this transaction to close in a tight timeframe, under strict parameters. This highlights BDA’s strengths in optimising the sale process and achieving a premium result.”