This article was displayed on the ChosunBiz MoneyMove (MM) site at 3:52 p.m. on June 5, 2026.
The sale of waste disposal company Corentech, whose corporate value is estimated to reach up to 1 trillion won, is expected to kick off as early as August. Corentech's largest shareholder is said to be considering UBS as the sale manager.
According to the investment banking industry on the 5th, the consortium of private equity fund (PEF) manager E&F Private Equity (PE) and IS Dongseo is said to plan to distribute an information memorandum (IM) to potential bidders as early as August. However, as the schedule may change depending on Corentech's performance trend, the specific timing has not been finalized.
UBS, which handled the sale of Koentec, is reportedly the leading candidate to serve as the sale manager.
Initially, the E&F PE–IS Dongseo consortium considered selling Koentec and Corentech, both waste disposal companies, as a package. But it changed course to dispose of Koentec first and sell Corentech afterward. Packaging the two companies would swell the deal size to as much as 2 trillion won, limiting the pool of bidders able to participate. It is also said that the decision reflected the trend of improving Corentech's financials, with a plan to sell after reflecting first-half results this year. The E&F PE–IS Dongseo consortium closed the Koentec sale first in February.
Corentech, a waste disposal company centered in the greater Seoul area, is valued at up to 1 trillion won. Considering that Koentec, a similar company and the largest operator in the Yeongnam region, changed hands in the 700 billion won range, some say Corentech will fetch a similar level.
In the earlier Koentec acquisition race, Ecorbit (the IMM PE–IMM Investment consortium) and Affirma Capital participated. It is uncertain whether they will join the Corentech acquisition race, a similar company. However, given the fierce competition among PEF managers pursuing bolt-on strategies in the domestic waste disposal sector recently, many expect there will be no difficulty securing bidders.
The industry expects Corentech's improvement in earnings before interest, taxes, depreciation and amortization (EBITDA) to have a positive effect on valuing the company. Corentech's EBITDA came to about 30 billion won in 2023, the year after the E&F PE–IS Dongseo consortium acquired it, but its internally assessed EBITDA for this year is said to be over 40 billion won.
An IB industry official said, "Since the consortium chose a strategy of proceeding with a sale after showing financial improvement, if results have improved, there is room for that to be reflected in the valuation."