This article was displayed on the ChosunBiz MoneyMove (MM) site at 4:20 p.m. on Jul. 27, 2026.
Domestic private equity fund (PEF) manager Genesis Private Equity (PE) is understood to have entered the race to acquire medical display maker DNT. With multiple private equity funds, including Skylake Equity Partners and Eum Private Equity, showing interest, a shortlist of qualified bidders is expected to be drawn up this month.
According to the investment banking (IB) industry on the 27th, Genesis PE recently submitted a letter of intent (LOI) to the sell-side for DNT. Including Genesis PE, more than six bidders are said to have joined the preliminary auction.
The sell-side is said to select a shortlist as early as this month. It is closely reviewing each bidder's desired acquisition price stated in the LOI, financing capacity, and post-acquisition business plan.
Founded in 1999, DNT manufactures specialized displays for medical, casino, and industrial use. It supplies products for medical devices and casino equipment, which require higher quality and reliability than consumer displays. Because customer certification and product development take considerable time, the business is considered difficult for new players to enter.
DNT's largest shareholder is domestic manager Highland Equity Partners (Highland EP). In 2024, Highland EP acquired a 92% management control equity stake in DNT held by KStone Partners Asia and others for about 170 billion won and has pursued profitability improvements and customer diversification.
DNT's valuation discussed in the market is around 450 billion to 500 billion won. The sell-side expects DNT's EBITDA this year to reach 45 billion won. Based on this, the price implies roughly 10 to 11 times EBITDA.
DNT posted about 134.9 billion won in revenue and about 26.3 billion won in operating profit last year. Compared with 123.9 billion won in revenue and 19.6 billion won in operating profit in 2024, both grew. As performance improved rapidly after the acquisition, the sell-side is seen as moving to recoup its investment in a relatively short period.
Bidders are said to have given high marks to DNT's stable cash generation and the growth potential of the global specialized display market. Medical monitors often undergo certification by hospitals and medical device companies and are supplied over long periods, a benefit that provides a stable profit and loss structure.