This article was displayed on the ChosunBiz MoneyMove (MM) site at 10:54 a.m. on May 15, 2026.
Woojin M&E, a company specializing in the manufacturing and distribution of power equipment, has been put up for sale in the mergers and acquisitions (M&A) market. It has been about two years since private equity fund (PEF) manager Curious Partners acquired Woojin M&E.
According to the investment banking (IB) industry on the 15th, Curious Partners recently decided to sell a controlling equity stake in Woojin M&E and began reaching out to potential buyers. Samjong KPMG is advising on the sale.
The sale target is understood to be the entire 100% equity in Woojin M&E held by Curious Partners through the special purpose company (SPC) Curious Voltage Co., Ltd. A sale price of more than 300 billion won is being discussed.
In June 2024, Curious Partners acquired 100% equity in Woojin M&E held by Woojin Holdings from industrial printer maker Aroot for about 235 billion won.
Curious Partners initially planned to recoup its investment after listing Woojin M&E, but shifted to a sale as a limited partner (LP) in the project fund formed at the time of the acquisition pursued a call option for Woojin M&E.
Founded in 1984, Woojin M&E is a specialized manufacturer of power equipment used in the semiconductor and display industries, and the recent favorable power infrastructure cycle driven by artificial intelligence (AI) has also influenced the sale exploration.
Woojin M&E, in particular, has built a one-stop service for power equipment design and installation, showing stable growth. Last year's revenue exceeded 200 billion won, and operating profit was 22.4 billion won, about three times higher than the previous year.
Kostom Asia is being cited as a leading candidate to acquire Woojin M&E. The LP holding a call option to acquire Woojin M&E equity is said to have designated domestic PEF manager Kostom Asia as the acquiring entity.
In fact, at the time Curious Partners formed the project fund to acquire Woojin M&E, the LP is known to have included in the option contract a clause stating that "the LP or a third party designated by the LP may acquire the asset."
Kostom Asia is reportedly already moving into the financing process to acquire Woojin M&E. The plan is to provide acquisition funds by newly forming a project fund with part of the money from its third blind fund.
Woojin M&E has seen several changes in control, starting with Skylake Investment in 2015, followed by ACE Equity Partners, Aroot and Curious Partners. If the sale goes through, it will be the fifth change of hands.
An IB industry source said, "It is true that Curious Partners has started the sale of Woojin M&E with Samjong KPMG as its adviser," adding, "A considerable recovery is expected thanks to the favorable power market."