EQT Buys Majority Stake in South Korean Security Provider SK Shieldus
03 March 2023 - 10:22PM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Swedish private-equity firm EQT AB said Friday it has
agreed to acquire a majority stake in South Korean security
provider SK Shieldus Co Ltd from SK Square Co. Ltd. and Macquarie
Asset Management's infrastructure business.
SK Shieldus provides central monitoring and dispatch services,
cyber security consulting and monitoring services, with the company
acting as a de facto extension of Korean public police and security
services, EQT said.
Following closing, EQT will own 68% in SK Shieldus while SK
Square will hold the remaining 32%.
EQT said that with the acquisition it aims to enable more
tailored and digitized security service offerings and decarbonize
the company's vehicle fleet in favor of increased
electrification.
A new board of directors will be put in place, combining EQT's
industrial advisors and Korean business leaders, it added.
The deal is expected to close in the third quarter of 2023,
subject to conditions and approvals.
With this transaction, EQT Infrastructure VI is expected to be
5% to 10% invested.
Financial terms weren't disclosed.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
March 03, 2023 06:07 ET (11:07 GMT)
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