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CAPE Investment-SK Securities PEF acquires Elcanto
- Recent Matters
- 2017.08.30
CAPE Investment Corporation and SK Securities Co., Ltd. have established a private equity fund (PEF) to successfully complete its acquisition of shares and managerial rights of Elcanto Co., Ltd., a renowned shoe brand in Korea, from E-Land World Ltd. on August 11, 2017.
E-Land Group acquired Elcanto, which was under the corporate rehabilitation proceeding in 2011 and rendered it to become an affiliate company of E-Land Group. After becoming E-Land Group’s affiliate company, Elcanto has steadily improved its business performance results as it recorded annual sales of KRW 48.6 billion and operating profit of KRW 4.2 billion in 2016, reflecting increases of 16.8 % and 16.6% respectively from its 2015 results (i.e., annual sales of KRW 41.6 billion and operating profit of KRW 3.6 billion).
Recently, E-Land Group announced its plan to sell Elcanto in order to transform into a holding company and to improve its financial structure. Further, two PEFs, i.e., CAPE-SKS No.1 Private Equity established by CAPE Investment and SK Securities and NAU Turnaround Growth Ladder Fund No.1 Corporate Finance Stabilization PEF acquired 100% shares in Elcanto and its managerial rights at KRW 45 billion from E-Land World.
As the legal advisor of CAPE Investment and SK Securities, Yoon & Yang LLC successfully advised them on all aspects of the M&A transaction for the acquisition of Elcanto’s shares from E-Land World, including the establishment of the CAPE-SKS No.1 Private Equity and the preparation and execution of the share purchase agreement.
E-Land Group acquired Elcanto, which was under the corporate rehabilitation proceeding in 2011 and rendered it to become an affiliate company of E-Land Group. After becoming E-Land Group’s affiliate company, Elcanto has steadily improved its business performance results as it recorded annual sales of KRW 48.6 billion and operating profit of KRW 4.2 billion in 2016, reflecting increases of 16.8 % and 16.6% respectively from its 2015 results (i.e., annual sales of KRW 41.6 billion and operating profit of KRW 3.6 billion).
Recently, E-Land Group announced its plan to sell Elcanto in order to transform into a holding company and to improve its financial structure. Further, two PEFs, i.e., CAPE-SKS No.1 Private Equity established by CAPE Investment and SK Securities and NAU Turnaround Growth Ladder Fund No.1 Corporate Finance Stabilization PEF acquired 100% shares in Elcanto and its managerial rights at KRW 45 billion from E-Land World.
As the legal advisor of CAPE Investment and SK Securities, Yoon & Yang LLC successfully advised them on all aspects of the M&A transaction for the acquisition of Elcanto’s shares from E-Land World, including the establishment of the CAPE-SKS No.1 Private Equity and the preparation and execution of the share purchase agreement.
- Practices
- #Mergers & Acquisitions
- #Private Equity
