The Korea Technology Guarantee Fund announced on August 21 that it has facilitated a merger and acquisition (M&A) deal worth 24.5 billion won (approximately $245 million).
The M&A platform, developed by the fund in collaboration with investment institutions, aims to support small and medium-sized enterprises (SMEs) in their M&A endeavors. APS Innovation, a company specializing in secondary battery equipment, signed a contract earlier this month to acquire 100% of the shares of IRE Engineering for 24.5 billion won, with assistance from the Korea Technology Guarantee Fund and Intercapital Partners.
APS Innovation registered as a potential buyer on the M&A platform to expand into new business areas, leveraging its technological expertise accumulated in the secondary battery and display equipment sectors. The Korea Technology Guarantee Fund connected APS Innovation with Intercapital Partners, which provided brokerage and specialized advisory services for the M&A.
Through this acquisition, APS Innovation aims to diversify its business by combining IRE's automated equipment technology for cosmetics filling and packaging with its own precision machinery control and manufacturing capabilities. The company also expects to enhance its sales network and global competitiveness by utilizing the overseas business infrastructure it has established in the United States, Canada, and China.
Previously, the Korea Technology Guarantee Fund established a comprehensive support system for M&A based on public-private cooperation in March of last year.
“This M&A demonstrates that our platform is making a tangible contribution to the growth and innovation ecosystem of technology-based SMEs,” said Kwon Hyung-taek, chairman of the Korea Technology Guarantee Fund. “We will continue to expand our collaboration with private institutions to actively discover and support technology-driven M&As.”
* This article has been translated by AI.
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