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Yulchon Advised CACTUS PRIVATE EQUITY and STIC Investment on USD 368 Million Acquisition Financing for TmaxSoft Acquisition

2024.08.22.

Yulchon's acquisition finance team successfully closed an acquisition finance transaction to raise funds for the acquisition of shares issued by TmaxSoft on behalf of CACTUS PRIVATE EQUITY and STIC Investment.


In this acquisition financing transaction, CACTUS PRIVATE EQUITY and STIC Investment borrowed a total of $368,000,000 from 26 financial institutions, including Shinhan Bank, Shinhan Investment & Securities, DB Financial Investment through a special purpose company to finance the acquisition of 7,799,018 common shares issued by TmaxSoft(64.7% of total shares).


TmaxSoft is the No. 1 company in the domestic middleware market, with an annual sales of KRW 100 billion and operating profit of KRW 50 billion, and the transaction is significant in that it enabled Tmax Group to finance the repurchase of TmaxSoft which was sold to SkyLake Equity Partners 2 years ago.


Yulchon's acquisition finance team played the role of providing advice during the entire process, including review of all financial transactions and collateral contracts in this acquisition financing transaction, revision of contracts to reflect the opinions of the parties, and withdrawal of funds, to ensure that the interests of the parties involved are taken care of, successfully concluding the acquisition financing transaction through careful and detailed coordination.