▲Photo of the signing of the main contract for the acquisition of Hansung Welltech Co., Ltd. by V1Tech Co., Ltd. and Yuamco-IBK PEF. Kim Seon-joong, CEO of V1Tech (right) and Seo Jeong-do, CEO of Hansung Welltech
News excerpt Yonhap Asset Management (Yuamco) joins hands with KOSDAQ-listed V1Tech to acquire Hansung Welltech, a specialized manufacturer of logistics transportation machinery and factory automation equipment. The purpose is to improve the financial structure and conduct research and development. V1Tech, a strategic investor (SI), plans to increase competitiveness by merging Hansung Welltech with its subsidiary at the end of this year. According to the investment banking (IB) industry on the 10th, Yuamco and V1Tech recently acquired an 82% stake in Hansung Welltech. A stock purchase agreement (SPA) was signed. Yuamco will invest 5 billion won and V1Tech will invest 3.2 billion won to acquire the old shares. In order to improve its financial structure, Yuamco will additionally acquire convertible bonds (CB) worth 11 billion won issued by Hansung Welltech. The balance payment is scheduled to be made at the end of this month at the earliest. Investment funds will be raised through a blind fund created by Yuamco and IBK Financial Group. Established in 1998, Hansung Welltech is a company that manufactures automated guided vehicles (AGVs) and unmanned guided vehicles. We have been recognized for our competitiveness by supplying logistics-related transport machinery within the manufacturing process of a large company near Busan.In 2015, a joint patent with Samsung Electronics was acquired in relation to unmanned guided vehicles, and in 2018, it was selected as a 'Busan-type Hidden Champion'. Recently, robots and automation facilities have been attracting attention from the industry.