KPG Partners, Corstone Asia mull takeover of JKC Corp.

[THE INVESTOR] Local investment firm KPG Partners and private equity fund Corstone Asia are planning on acquiring JKC Corp., a Korean manufacturer of adhesive film and other industrial materials.

According to industry sources, KPG Partners and Corstone Asia signed a memorandum of understanding for the right to exclusively negotiate with JKC Corp. to purchase the company. After conducting a due diligence and further negotiations, the takeover deal will be completed by next month.

Lee Jang-won, the founder and CEO of JKC Corp., is looking for potential buyers with a strong global network for the company’s long-term growth. After the takeover, Lee is planning on managing the company.

JKC Corp. manufactures aluminum sheets that are widely used in home appliances. The company supplies materials to major household manufacturers, including Samsung Electronics, Whirlpool, BSH -- which operates Bosch and Siemens -- and Haier.

Last year, the company posted 8.1 billion won (US$7.06 million) in operating profit and 19.1 billion won in sales, a yearly increase of 10 percent average for the past five years.

By Ahn Sung-mi (sahn@heraldcorp.com)