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SK ecoplant makes acquisition to “power up” their environmental business

This is a story about how Samil PricewaterhouseCoopers (“PwC Corporate Finance”) helped SK ecoplant (SKEP) expand their environmental business to solidify their status as an environmental and energy solution provider.

 

Setting the scene

SKEP was looking for overseas opportunities to expand its environmental business. PwC Korea and Malaysia were with SKEP from the beginning. Our teams helped to identify and introduce potential investment opportunities in the Waste Management Sector that fit with SKEP’s strategy.  

TES-Envirocorp Pte. Ltd. (TES) is a Singapore-based global e-waste company. E-waste is electronic products, such as computers, televisions and VCRs, which are unwanted, not working, and nearing or at the end of their “useful life.” The company has established a value chain across all related businesses and is regarded as the most competitive player in the industry. TES operates 43 treatment facilities in 21 countries including the United States, United Kingdom, Germany, China, and Singapore.

 

TES building

How we helped

By securing bilateral negotiation and early identification of potential deal breakers, we helped manage both parties’ expectations, avoiding any last-minute surprises and facilitated internal approvals for the transaction.  Our role was key to making this a fair transaction for all parties especially with our advice on pricing to successfully secure TES and our in-depth synergy analysis which helped attract financial investors and to obtain internal approval.

Steven Jeong

“My heartfelt congratulations to the teams of SK ecoplant and TES for this landmark acquisition, which takes SK ecoplant one step further towards its goal of becoming a global ESG platform. Through our work we continue to build trust in our clients and society and display our deep dedication to PwC’s ESG values."

Steven Jeong, Partner, Corporate Finance and M&A Leader, PwC South Korea*

"The acquisition of TES has allowed SKEP to add a critical component to our dynamically expanding global ESG platform. With the successful completion of this deal, I would like to personally thank the PwC Corporate Finance M&A team who was essential in securing this outstanding result. Their professionalism, attention to even the minute of details and deep dedication to their craft was deeply appreciated by our team."

Jin Hwan Kim, Vice President, SK ecoplant*
Jin Hwan Kim

Making a difference

Through this acquisition, SKEP will be able to expand its global business and enter the EV battery recycling industry through synergy between affiliates. They are able to maximize capabilities that both companies have in battery recycling and plastics innovations and accelerates the growth plan for TES’ existing business strategy. SKEP aims to help create a zero-waste circular economy eliminating pollution, recycling waste materials as well as generating energy from waste (the acquisition of TES accelerates SKEP’s entry into the space of recycling, repurposing, and reusing of IT devices and EV batteries). SKEP plans to further establish itself as a leader in the Korean environmental service market and to grow into a leading Asian environmental service provider.

 

*Testimonials may not be representative of the experience of other customers. Testimonials are no guarantee of future performance or success.

This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

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David Brown

Asia Pacific Deals Leader, Global Corporate Finance Leader, Partner, PwC Hong Kong

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