<article>Private equity firm <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/tpg-china-telecom-discuss-possible-takeover-debt-lader-oi-brazil-solicitor-85552/" target="_blank" rel="noopener">TPG</a> has picked up a significant minority stake in South Korean luxury flooring materials manufacturer Nox Group, the investment firm announced on Friday.</article>

Private equity firm <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/tpg-china-telecom-discuss-possible-takeover-debt-lader-oi-brazil-solicitor-85552/" target="_blank" rel="noopener">TPG</a> has picked up a significant minority stake in South Korean luxury flooring materials manufacturer Nox Group, the investment firm announced on Friday.
The financial terms of the deal were not disclosed.
This is TPG&#8217;s second investment in Korea this year, after <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/tpg-led-group-invest-437m-s-korean-kakaos-taxi-hailing-unit-76402/" target="_blank" rel="noopener">Kakao Mobility</a>, Kakao Corp&#8217;s taxi-hailing service unit. A consortium led by TPG had invested $436.8 million in the firm in June this year.
Founded in 1994, Nox is Korea’s largest manufacturer of luxury vinyl tile (LVT) and is headquartered in Yesan. It has manufacturing facilities in-country and in the US, and claims to distribute its products to more than 50 countries around the globe.
“The LVT market is growing rapidly as more and more customers search for affordable, tasteful alternatives to traditional wood and ceramic floorings,” said Tim Dattels, Managing Partner of TPG Capital Asia.
With TPG&#8217;s partnership, Nox will look at expanding its capabilities and presence in Asia, supplementing its strong position in the European and US markets. &#8220;Their (TPG) global network and deep operational insight will add significant value as we aim to grow and accelerate Nox’s business,” said Dan Koh, CEO of Nox.
As an alternative asset firm, TPG manages over $73 billion of assets and has investment platforms that include private equity, growth venture, real estate, credit, and public equity.
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Private equity firm TPG has picked up a significant minority stake in South Korean luxury flooring materials manufacturer Nox Group.

TPG takes significant minority stake in Korean vinyl tile maker Nox

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TPG takes significant minority stake in Korean vinyl tile maker Nox

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