Hahn & Co. completes acquisition of SK Specialty for $1.8 billion

SK Specialty's headquarters in Yeongju, North Gyeongsang Province / Courtesy of SK Specialty

Korean private equity firm Hahn & Company (Hahn & Co.) said Tuesday it has finalized the acquisition of an 85 percent stake in SK Specialty from SK Corp. for approximately 2.6 trillion won ($1.8 billion), three months after signing a stock purchase agreement in December.

SK Specialty is a world leader in producing specialty gases crucial for semiconductor and display panel production. It holds the largest global market share in nitrogen trifluoride and tungsten hexafluoride, essential materials for advanced semiconductors.

Through this acquisition, the private equity firm has bolstered its advanced manufacturing portfolio by adding a global leader in semiconductor materials.

The firm secured an 85 percent stake in SK Specialty, while SK Corp. chose to keep the remaining 15 percent, recognizing the company’s growth potential.

“We are proud to acquire SK Specialty, a global leader in specialty gases and a vital contributor to industries like semiconductors,” a Hahn & Co. official said. “We are committed to making significant investments to enhance SK Specialty’s technological edge and reinforce its standing within Korea’s advanced industrial sector.”

The firm pledged to maintain job stability for SK Specialty’s employees and continue investing in its future expansion.

The official said that with this deal, Hahn & Co. seeks to build on its history of establishing trust-based collaborations with major domestic companies and acquiring top manufacturing firms to strengthen global competitiveness.

Founded in 2010, Hahn & Co. manages the largest institutional-focused private equity funds in the country. It focuses on acquiring management control of high-quality domestic companies and improving their operations through active investment.

The total assets of the companies managed by the private equity firm amount to approximately 50 trillion won, with total revenues of about 23 trillion won.