<article>ACE Equity Partners is acquiring Daeho Tech, a medium-sized optical equipment firm in South Korea, in a management buyout deal valued at 400 billion won ($356.8 million).</article>

ACE Equity Partners is acquiring Daeho Tech, a medium-sized optical equipment firm in South Korea, in a management buyout deal valued at 400 billion won ($356.8 million).
A share purchase agreement has been signed between the private equity firm and Daeho Tech CEO Jung Young-Hwa, and the transaction is expected to be completed soon, according to a report on local newswire The Bell.
Young-Hwa will continue to participate in the management team of the company.
ACE Equity Partners looks to increase the corporate value of Daeho Tech and realise investment return through IPO or trade sale.
The news report also said, Daeho Tech had attracted bids from a lot of foreign companies but it finally decided that ACE Equity Partners was the right investor for the company’s long-term growth.
The Seoul-headquartered private equity firm is understood to have established partnerships with major Chinese technology companies such as Foxconn, China Star Optoelectronics Technology and BOE Tech.
Daeho Tech, founded in 1989, is known for manufacturing the 3D cover glass for edge phone displays. Its technology is also applicable to other manufacturing fields such as medical equipment and automobile.
The company has sold its products to overseas markets including China.
Daeho Tech was said to have gained an average sales of 100 billion won and operating profit of 40 billion won over the past two years.
ACE Equity Partners was established last year to focus on investments in South Korea. Its portfolio companies include AimSystem, a smart factory automation software player in China, Woojin Electric and DongAh Chemical.

ACE Equity Partners is making a management buyout of Daeho Tech, a medium-sized optical equipment firm in South Korea, for 400 billion won ($356.8 million).

ACE Equity Partners acquires Daeho Tech in $356.8m management buyout

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ACE Equity Partners acquires Daeho Tech in $356.8m management buyout

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