This article was displayed on the ChosunBiz MoneyMove (MM) site at 3:54 p.m. on Aug. 31, 2026.
Aerospace parts maker Ainsky is moving to sell its management control.
On the 31st, according to the investment banking (IB) industry, Ainsky recently began work to sell its management control. The transaction target is the controlling equity held by the largest shareholder. Based on 100% equity in Ainsky, the corporate value was said to be about 50 billion won.
Currently, the largest shareholder of Ainsky is K-Humus, which holds 30% equity as of the end of last year. K-Humus holds management control of the KOSDAQ-listed Irobotics(066430), and in March it also acquired the robot reducer corporation Haisung Aero-Robotics.
If the transaction is completed, a significant portion of the equity held by K-Humus is expected to be put up for sale. However, the final equity sale ratio and transaction price may change during negotiations with the buyer.
Ainsky is an aircraft parts machining and assembly company located in Sacheon, South Gyeongsang. It produces parts for military aircraft such as the KF-21, FA-50 and T-50, and civilian aircraft parts to be supplied to Boeing and Airbus. With Korea Aerospace Industries (KAI) as a key customer, its order backlog was said to exceed about 270 billion won over the next 10 years.
Ainsky's sales and operating profit last year were 14.9 billion won and 946 million won, respectively. Both were down from 2024 sales of 16 billion won and operating profit of 1.475 billion won. However, if results improve this year, earnings before interest, taxes, depreciation and amortization (EBITDA) was said to increase to about 3.5 billion won. Considering only the 50 billion won corporate value and this year's expected EBITDA, the multiple is about 14 times.
Ainsky handles both precision machining and assembly of aircraft structures. In addition to military aircraft, it supplies parts to global commercial aircraft programs such as Boeing and Airbus, and beyond its existing aerospace and defense parts business, it is also pushing into new businesses including military drone assembly.
Meanwhile, Ainsky is preparing for an initial public offering (IPO). Last month it selected Korea Investment & Securities Co. as lead underwriter and began related procedures with a goal of listing on KOSDAQ in 2028. If the sale of management control goes through, there is a possibility that the existing IPO plan will continue, depending on the judgment of the new largest shareholder.