Lutronic Partners with Hahn & Co. - Korea's Largest Private Equity Firm with over $27 Billion invested to date

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Jun 14, 2023, 10:00 ET

BILLERICA, Mass., June 14, 2023 /PRNewswire/ -- South Korea's largest private equity firm Hahn & Company ("Hahn & Co.") announced today that it has signed definitive agreements with Mr. Haelyung Hwang, Founder and CEO of Lutronic (the "Company"), to jointly launch a tender offer for all remaining shares of the Company for a total consideration of KRW957.0 billion (US$735.9 million).

Established in 1997, Lutronic is a global maker of aesthetic medical devices with revenues of over KRW264 billion in 2022. The Company has a rapidly growing global presence with 40% of revenues from the United States and 35% from Europe and the Middle East.

This transaction further builds on Hahn & Co.'s track record of investing in Korean businesses that can transform globally. Hahn & Co. is the largest private equity firm in Korea with over US$27 billion invested to date. Lutronic will represent Hahn & Co.'s thirty-fourth investment in the country.

Mr. Hwang said, "Partnering with Hahn & Co. paves the way for Lutronic's brighter future. I am confident that this partnership will accelerate Lutronic's ascension as the leading and dominant player in the aesthetics space."

"Hahn & Co. is excited to partner with Mr. Hwang and his team to propel Lutronic to the next stage of its development. Lutronic is one of Korea's hidden champions with the potential to become a global leader in its market," said Scott Sang-Won Hahn, CEO of Hahn & Co.

About Lutronic
Lutronic is a global leader in the development of intelligent laser and energy-based systems. Lutronic's robust products include proprietary features to help optimize care in fitness, surgical, ophthalmic and aesthetic procedures. Committed to research and development, Lutronic holds more than 535 patents and patent applications worldwide. For more information, please visit lutronic.com.

About Hahn & Co.

Hahn & Co. is Korea's largest private equity firm and operates the largest private equity fund raised in Korea to date. Companies controlled by Hahn & Co. generate revenues in excess of KRW19 trillion (US$14 billion) with assets of KRW48 trillion (US$36 billion) with over 30,000 employees (www.hcompany.com).

Media Contact:
Jina Kim
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SOURCE Lutronic