This article was displayed on the ChosunBiz MoneyMove (MM) site at 10:26 a.m. on Sept. 1, 2026.
Lotus Private Equity (Lotus PE), a private equity fund (PEF) manager owned by the two daughters of HL Group Chairman Chung Mong-won, will acquire Kolon Group's artificial turf and car mat business units in partnership with Hana S&B Investment, a new technology business finance company, among others.
According to the investment banking (IB) industry on the 1st, Lotus PE, together with Hana S&B Investment and Ingenium Equity Partners, decided to acquire 100% of the management control equity of Apex Kolon, a new company for Kolon Group's artificial turf and car mat business.
This is a carve-out transaction that separates and acquires the artificial turf and car mat business units that Kolon Group's fabric processing affiliate Kolon Glotech had operated, and Lotus PE is understood to have entered negotiations as a prospective buyer in the first half of this year.
Kolon Glotech on the 28th partitioned the artificial turf and car mat manufacturing divisions into a physical spin-off and completed a board resolution to establish a new company, Apex Kolon, and plans to proceed with a shareholders meeting and a creditor objection period this month before registering the spin-off in Oct.
Lotus PE will then form a new technology business investment association with Hana S&B Investment and others to acquire all 2 million shares of Apex Kolon held by Kolon Glotech. The acquisition price is about 40 billion won, and the transaction closing is scheduled for mid-next month.
Lotus PE is considered an HL Group affiliate. The two daughters of HL Group Chairman Chung Mong-won (Executive Director Chung Ji-yeon of HL Holdings and Executive Director Chung Ji-su of HL Mando) owned 100% equity. Since its establishment in Nov. 2020, it has been managed with funds from group affiliates including HL Holdings.
Lotus PE is said to have highly valued that the acquisition of Apex Kolon would allow it to take over Kolon Group's artificial turf and car mat manufacturing capabilities in their entirety. In particular, the artificial turf and car mat business units accounted for more than 80% of Kolon Glotech's sales.
Meanwhile, Lotus PE's move to acquire Apex Kolon has also accelerated Kolon Group's business structure reorganization. Kolon Group is also pushing to sell the functional and image materials business unit under the Specialty Business Division of Kolon Industries.