Locus Capital Partners (Locus), a cross-border M&A advisory firm, is pleased to announce the sale of Bucheon Hi-Parking Co., Ltd. (Bucheon Hiparking) to AJ-PARK Co., Ltd. (AJ). Locus M&A team initiated the transaction and served as an exclusive financial advisor to Bucheon Hiparking, a subsidiary of Hi-innoservice Co., Ltd (Hi-innoservie), which is one of the largest car park operating companies in South Korea. The specific terms of the transaction were not disclosed.
Hi-innoservice liquidated the Bucheon Hiparking to raise additional capital for its new business.
AJ, a leading car park management company in South Korea, expects great synergies in widening its business portfolio throughout the transaction.
Locus managed and executed the deal processes including identification of buyer, due-diligence, management of financial and legal advisory, price & SPA negotiation, etc. successfully.