PwC advised SK ecoplant Co., Ltd (SKEP) on the acquisition of 100% equity stake in TES-Envirocorp Pte. Ltd. (TES) from Navis Capital Partners (“Navis”)

SKEP is a SK Group company involved in eco-friendly business in the field of integrated waste management, energy, engineering, and construction with leading technologies and construction capabilities in various industries, such as oil & gas, petrochemical, power plants, civil infrastructure, architecture, and housing. SK ecoplant plans to establish itself as a leader in the Korean environmental service market and to grow into a leading Asian environmental service provider. In 2020, SKEP recorded revenue of USD 7.3 billion (KRW 8.7 trillion) and EBITDA of USD 259 million (KRW 310 billion).

TES was incorporated in Singapore in 2005, and is one of the world’s leading e-waste treatment companies. It operates 43 facilities in 21 countries located globally, including North America and Europe. Its customers include the world’s leading IT companies.

Navis is a Malaysian based Southeast Asian private equity firm, managing approximately USD 5 billion in capital with over 80 control transactions. In May 2013, Navis acquired a majority equity stake in TES, enabling the company to accelerate its growth plans regionally, as well as into the Americas and Europe into the global e-waste player today.

The Corporate Finance teams from PwC South Korea and PwC Malaysia acted as the sole financial advisors to SKEP in connection with the acquisition. The transaction agreements were signed in February 2022.