This article was posted on the ChosunBiz MoneyMove (MM) site on Sep. 24, 2025, at 3:47 p.m.
IBK Securities and domestic private equity firm Compa Partners are pursuing an investment in auto parts manufacturer AEM Mobility. It has been confirmed that the project fund has already been formed. Korea Investment & Securities will participate as a co-investor.
According to the investment banking (IB) industry on the 24th, the IBK Securities–Compa Partners consortium decided to acquire convertible bonds (CBs) issued by AEM Mobility. It was confirmed that they formed a project fund named "IBKS-Compa Mobility New Technology Investment Association" for this purpose.
The IBK Securities–Compa Partners consortium and AEM Mobility are also said to have finalized specific investment terms. The convertible bonds issued by AEM Mobility were set with a five-year maturity, a 0% coupon rate and an approximate yield to maturity (YTM) of 8.0%.
A clause requiring completion of an initial public offering (IPO) as a qualified listing requirement (Q-IPO) by 2028 was also included. AEM Mobility appointed Korea Investment & Securities as the lead manager for the listing to meet that condition. It appears that preliminary due diligence has already been completed.
Founded in 1997, AEM Mobility was a materials and components company engaged in plastic injection for vehicle electrification and parts businesses. Four years ago, Lee Sang-hoon, the son who succeeded the family business from the founder, became CEO and expanded the business into automotive module assembly. Later, AEM Mobility entered the electronic display module (optical bonding) business and established an Indian unit, winning a supply contract to an Indian automaker.
As of the end of last year, AEM Mobility's revenue was about 30.8 billion won. However, it recorded a net loss of 2.9 billion won. The losses are attributed to increased injection and painting defect rates from new customers and new products, higher mold production costs, and increased staffing due to setting up new equipment lines. Customers include domestic Hyundai Mobis and HYUNDAI WIA, and German auto parts maker Continental.
An industry source said the company is expected to see profit improvement because it has completed an integrated production system for electronic modules and secured display module orders while the Indian plant's operation is ramping up.