BDA Partners is pleased to announce that its clients Badgers Investment, YJA Investments and HL D&I Halla have successfully sold their shares in Halla Encom to E&F PE, a Seoul-based private equity firm focused on traditional industries such as waste management and building materials.

BDA served as exclusive financial advisor to the sellers. Terms of the transaction were not disclosed. This is BDA’s fifth transaction in the industrial sector for Korean clients since 2021.

Halla Encom, based in Hwaseong-si, is one of Korea’s largest ready-mix concrete producers and operates 15 production plants and four aggregates sites nationwide. Following the transaction, E&F PE plans to leverage its expertise in the aggregates sector to make further bolt-on acquisitions of aggregates sites to achieve further growth. Howard Lee, Partner and Head of BDA Partners, Seoul, said: “We are pleased to have advised our clients on their successful divestiture of Halla Encom and successfully navigated them through a volatile Korean construction sector. The housing market and construction industry in Korea have faced strong headwinds since 2022, prompting one of Korea’s largest construction players to file for debt restructuring. This transaction demonstrates BDA’s ability to help clients achieve the right outcome even in challenging market conditions.”

About Badgers Investment

Founded in 2017, Badgers Investment is a Korea-based private equity firm specializing in mid-cap buyouts and growth investments. The firm is led by former executives from Morgan Stanley Private Equity Asia and PAG Asia Capital. Badgers Investment launched its first flagship blind fund in 2022 and focuses on investments in the mobility sector.

About YJA Investment

Founded in 2014, YJA Investment Co Ltd is a South Korea-based private equity firm focused on mid-cap and growth investments. YJA Investment has an extensive track record of investing in new and emerging industries such as IT, renewable energy, entertainment, education and biomedical. www.yjai532-001.whoisgh.com/?act=main

About HL D&I Halla

HL D&I Halla (KRX:014790) is a leading Korean construction company under the Halla Group, specializing in fields such as civil engineering, architecture, housing, facilities and environmental businesses. HL D&I Halla is known for its high-end residential brand “Halla Vivaldi”. www.hldni.com/eng/

About Halla Encom

Halla Encom Corporation is a Korean company that manufactures and sells ready-mix concrete, construction materials and aggregates. Halla Encom operates 15 ready-mix concrete production plants and 4 aggregates sites across Korea. The company was formerly known as Halla Concrete Corporation.

About E&F PE

Founded in 2014, E&F Private Equity is a Korean private equity firm engaged in both buyouts and growth capital investments, and creating value through unique post-merger integration strategies. Starting with investments in traditional waste management, such as landfills and incineration, E&F Private Equity has expanded its investment scope to related sectors such as renewable energy, resource recycling, and advanced materials development. www.enfpe.com/en/

About BDA Partners

BDA Partners is the global investment banking advisor for Asia. We are a premier provider of Asia-focused advice to sophisticated clients worldwide, with over 25 years of experience advising on cross-border mergers and acquisitions, capital raising and financial restructuring. We offer global reach with our teams in New York and London, and true regional depth with our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has extensive expertise across chemicals, consumer goods and retail, healthcare, industrials, services, sustainability and technology. We work tirelessly to earn our clients’ trust through insightful advice and outstanding results.

BDA Partners has strategic partnerships with William Blair, a leading global investment banking firm, and with DBJ (Development Bank of Japan), a Japanese state-owned bank with assets of US$150 billion.

U.S. securities transactions are conducted by BDA Partners’ partner BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and the SIPC. In the United Kingdom, BDA Partners is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and 4 regulated activities for professional investors. www.bdapartners.com