Partners Group invests in Korea auto tire manufacturer
Partners Group, the global private equity investment manager, has made a direct investment in South Korea’s Saehwa International Machinery with its investment partner STIC Investments, a local private equity firm in South Korea.
Financial details were not disclosed. Saehwa is an outsourced tire mold, drum and tire machinery manufacturer with a host of global clients. It also has overseas’ operations in China, Southeast Asia and North America.
Alex Cho, Head of Partners Group’s Seoul office, said publicly, “We are very pleased to participate in this unique direct investment opportunity in Korea. The investment in Saehwa should allow Partners Group’s clients to profit from the strongly growing automotive markets in the emerging markets economies.”
Partners Group will work closely with Saehwa to help expand the company’s networks through international co-operations with other leading global tire manufacturing equipment providers. The group has $20 billion in private equity assets and over 100 direct investments globally, while STIC has invested in more than 286 portfolio companies diversified across the entire spectrum of technologies, since its establishment in 1999.
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