This article was displayed on the ChosunBiz MoneyMove (MM) site at 3:23 p.m. on Sept. 25, 2025.
U.I.D, a company listed on the KOSDAQ market, will acquire energy storage system (ESS) company BSS. BSS, which had been cruising with revenue in the 30 billion won range, entered corporate rehabilitation proceedings after liquidity worsened while expanding its business.
According to the investment banking (IB) industry on the 25th, the Seoul Bankruptcy Court approved an investment agreement for U.I.D to acquire BSS. U.I.D will secure management rights by participating in BSS's paid-in capital increase and acquiring new shares worth 2 billion won and corporate bonds worth 1.9 billion won. Samil Accounting Corporation served as the M&A adviser.
BSS is the only domestic company that manufactures special ESS containers. It maintains a monopolistic position in the industry, handling about 82% of the project volume for Korea Electric Power Corporation's frequency regulation (FR) ESS project won in 2023.
BSS's main product is an enclosure, an ESS-dedicated container, and it supplies customized containers to domestic battery manufacturers. These are mainly used at solar power plants, Korea Electric Power Corporation (KEPCO)'s transmission and distribution stations, and other industrial facilities. Major customers include LG Energy Solution, Samsung SDI, SK On, and Japan's JEF Engineering, among domestic and foreign battery corporations.
As of the end of 2023, BSS recorded sales of 29.5 billion won and net income of 950 million won, successfully returning to profit. At that time it appointed KB Securities as the lead underwriter and was preparing for an initial public offering (IPO) on the KOSDAQ market. However, as it accelerated business expansion, its financial structure deteriorated and it entered corporate rehabilitation proceedings.
U.I.D plans to shift from its display-centered existing business to an energy infrastructure platform company through this acquisition of BSS. BSS owns the country's largest factory in Changnyeong, South Gyeongsang Province, capable of a "one-line" production process. In addition, it has production bases in the United States and China, which is expected to allow flexible responses to the U.S. Inflation Reduction Act (IRA) and European carbon regulations.
In the U.S. ESS market, Chinese-made batteries account for more than 85% of the market. However, since the United States recently decided to impose high tariffs on Chinese-made batteries, opportunities for domestic battery corporations to enter the market are expected to expand.
An industry official said this acquisition "secured a channel to enter the public procurement-type infrastructure contract market, not just simple manufacturing," noting, "ESS special containers are widely used in the national power grid, energy supply to islands and mountainous areas, and defense, so the synergy between the two companies is expected to be significant."