This article was displayed on the ChosunBiz MoneyMove (MM) site at 5:24 p.m. on Sept. 30, 2025.
Centroid Investment Partners (Centroid PE), a private equity firm preparing to sell golf equipment brand TaylorMade, is again pursuing a multibillion-won big deal. It is negotiating to invest in Yudo, which develops and produces the "hot runner system" in the plastics industry.
According to sources in the investment banking (IB) industry, Centroid PE recently signed a memorandum of understanding (MOU) to invest equity in Yudo and is proceeding with financing. Centroid PE plans to acquire a 30% stake in Yudo Holdings to support Yudo's global expansion. It is expected to take some part in management through entry to the board of directors.
Yudo's corporate value is said to be discussed in the high 1 trillion won range. The value of the stake Centroid PE will acquire is about 600 billion won. The lead arranger for acquisition financing is in talks with major domestic securities firms. Because Centroid PE does not have a blind fund, it must secure equity contributions from other financial institutions in addition to acquisition financing.
Founded in Korea in 1980, Yudo makes equipment needed for injection molding processes that mold plastic products. It specializes in manufacturing "hot runner system" equipment. It has maintained sales in the 500 billion won range over the past four years. Its headquarters are in Hong Kong, but it operates in 38 countries worldwide, including Korea and China.
Plastic injection molding is broadly divided into cold runner and hot runner methods. In the cold runner method, when molten plastic is poured into a mold, the runner portion solidifies along with the product. This creates leftover plastic attached to the product, like the sprues that come with plastic model kits when assembling them.
The hot runner method addresses these drawbacks. Because the internal channels of the mold are kept at a constant temperature so the plastic remains liquid until the end, the leftover portions do not solidify and no postprocessing is needed. It's like getting finished parts from a model kit with no sprues. Initial mold costs are higher than for cold runners, but waste generation is lower, making it regarded as an environmentally friendly system.
The largest shareholder of Yudo Holdings is a family office owned by the founder, holding 56% of the total equity. The remaining equity is held 30% and 14% respectively by British investment firm ICG (Intermediate Capital Group) and the second chairman. Because ICG invested $200 million (about 280 billion won) in 2017 to secure Yudo Holdings equity, the time to exit that investment appears to be approaching.
Meanwhile, Centroid PE is proceeding with the sale of management rights for TaylorMade. The sale price is in the 4 trillion won range, and a shortlist has been announced after a preliminary bidding round. Each bidder is reported to be organizing its own lead arranger team and conducting due diligence. Centroid PE acquired TaylorMade in 2021 for 2.1 trillion won.