Press Release
Standard Chartered Private Equity Invests US$40 million in Leading Korean Environmental Company
Region: Greater China and Japan, Korea, India and South Asia Published by:
Valerie TAY
Date:
30 June 2009
Alternative assets
30 June 2009, Singapore – Standard Chartered Private Equity Ltd (SCPEL) announced a US$40 million equity investment in a leading environmental company affiliated with Kolon Group. SCPEL, the private equity arm of Standard Chartered Bank, will invest US$32 million to acquire a 40 per cent stake in Environmental Facilities Management Corporation (EFMC), a wholly-owned subsidiary of Kolon Group, and an additional US$8 million to expand the newly acquired business.
The two partners will foster growth of EFMC by identifying new investment opportunities in Korea as well as in the global environmental sector. The partnership will also provide opportunities to leverage Standard Chartered’s global footprint, enabling EFMC to expand into markets such as China and India, developing it into a globally-known environmental specialist.
Commenting on this new investment, Joe Stevens, Global Head of Principal Finance at Standard Chartered, said, “We want to establish long-term shareholding partnerships with leaders in the environmentally important business. We found Kolon Group and EFMC to be the right partners because of their advanced technologies and deep know-how in the water-related businesses.”
Ju Hong Lee, CEO of EFMC, said, “We are seeing more and more private investments in the environmental sector. A partnership with a global financial institution such as Standard Chartered allows us to accelerate our business and bring it to the next stage of growth.”
EFMC is an environmental specialist founded in 1998 as a facility manager. It became a part of the Kolon Group in 2007 and generated sales of KRW172.5 billion in 2008. EFMC is now involved in management, development and other services in the water sector.
For further information please contact:
Valerie Tay
Corporate Affairs, Group Wholesale Banking
Tel: + 65 6725 7792
E-mail: Valerie.Tay@sc.com
Note to editors:
About Standard Chartered Bank
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world’s most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.
Standard Chartered aspires to be the best international bank for its customers across its markets. The Group derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has over 1,600 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.
Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs more than 70,000 people, nearly half of whom are women. The Group’s employees are of 125 nationalities, of which about 70 are represented in the senior management.
For more information, please visit: www.standardchartered.com
Standard Chartered Private Equity Ltd (SCPEL)
SCPEL is the private equity arm of Standard Chartered Bank. SCPEL invests in mid- to late-stage companies in need of expansion capital or acquisition finance, and in management buy-outs. SCPEL will invest from US$20 to over US$100 million in a single transaction, focusing on companies whose principal operations and management are located in Greater China, Korea, South East Asia or India. It is an active partner that provides board-level strategic advice and access to the international network of Standard Chartered Bank.
About the Kolon Group
The Kolon Group is a reputable Korean conglomerate with 50 years in history. Founded as a nylon textile maker, Kolon has diversified into speciality chemicals, construction and other areas that led the growth and development of the Korean economy. Kolon is now engaged in chemical & advanced materials, fashion & retail and construction & services industries and provide research and development in chemicals, high-tech materials and biotech products. Kolon has emphasised the growth of environmental business since 2006 and acquired Environmental Facilities Management Corporation in 2007.
For more information, please visit: www.kolon.com
About Environmental Facilities Management Corporation (EFMC)
EFMC is a leading environmental service company which specialises in the water treatment business. It is the leader in water treatment facility management and manages more than 75 facilities throughout Korea. With a history of more than 10 years, EFMC boasts the industry know-how and has gained market leadership in Korea’s rapidly growing environmental sector.
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