PwC provided advisory on the acquisition of Hanssem for IMM Private Equity

PwC Korea Deals team acted as an buy-side advisor for IMM Private Equity to acquire 27.7% shares of Hanssem, the number one furniture company in Korea for KRW 1.45 trillion.

Established in 1970, Hanssem is a first-generation furniture company in Korea that introduced the 'standing kitchen' system for the first time in Korea. Later in the 1970s, Hanssem grew along with the boom of construction industry, such as the full-fledge supply of apartments in Korea. It has grown into the top furniture company.

Due to the seller's stipulation for a buyer with a strategic development vision to sustain the business, the Deal team initiated contact with a leading private equity firm (IMM PE) for the transaction. The team ensured confidentiality and effective coordination between the involved parties, culminating in the successful execution of the M&A.

Throughout this transaction, PwC network firms (including China, Japan, etc.) conducted comprehensive assessments, including FDD, TDD, IT DD, ESG DD. Our focus on term negotiations ensured the contentment of both parties involved.

The deal held significant importance as the team maneuvered potential challenges while maintaining confidentiality, and notably, the seller was the foremost furniture company in Korea.

The PwC team advising on the deal was led by Doshin Lee, Hong-Seo Yu and Hohyung Chae.