New York, NY, August 21, 2024 –BDA Partners is pleased to announce that its clients, Badgers Investment, YJA Investments and HL D&I Halla, have successfully sold their stakes in Halla Encom to E&F PE, a Seoul-based private equity firm, focused on traditional industries such as waste management and construction materials.
BDA was the 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, headquartered in Hwaseong-si, is one of Korea’s largest ready-mix concrete manufacturers, operating 15 manufacturing plants and four aggregate sites across the nation. Following the transaction, E&F PE plans to leverage its expertise in the aggregates sector to carry out additional bolt-on acquisitions of aggregates sites to achieve further growth. Howard Lee, Partner and Head of BDA Partners, Seoul, said, “We’re pleased to have advised our clients in their successful divestment of Halla Encom, successfully navigating a volatile Korean construction sector. The housing market and building industry in Korea have faced strong headwinds since 2022, leading one of Korea’s major construction players to file for debt workout. This transaction represents BDA’s ability to help clients achieve the right result, even under challenging market conditions.”