South Korean PE firm VIG Partners acquires Wilson Parking

Photo: Reuters

South Korean private equity firm VIG Partners, through its subsidiary Hi Parking, has reached an agreement to acquire local car park operator Wilson Parking Korea.

In a release, which did not disclose the financial terms of the deal, VIG said the acquisition of Wilson will make Hi Parking number one player within the market with over 240 prime car parks (~80,000 parking bays) under operation in metropolitan areas.

VIG acquired a controlling stake in Hi Parking in 2016 and will inject new capital in the firm for the 100 per cent acquisition of Wilson Parking Korea. The PE firm also said it plans to purchase the remaining 16.7 per cent stake it doesn’t currently own in Hi Parking early next year.

VIG Partners, which was set up in 2005, invests in small and medium-sized enterprises across a range of industries such as financial services, consumer goods, online and mobile commerce, and household appliances. Since inception, it has invested in 17 portfolio companies through its three vehicles – Fund I, II, III.

Its latest fund was closed last year at $600 million and counts Korea’s National Pension Service (NPS) as one of its limited partners.

This year, it has announced investments in several Korea-based companies including a $128.5-million investment in local cosmetic contact lenses manufacturer Star Vision. It also acquired Youyoung Industries, a local shoe fabrics maker for global sportswear brands, for 220 billion won ($206 million).

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.