Deals

StanChart invests $40m in Korean water treatment(2)

The private equity arm of Standard Chartered is backing the growth of Environmental Facilities Management, a manager of more than 75 Korean water treatment plants.

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Standard Chartered Private Equity has invested $40 million in Environmental Facilities Management (EFMC), a subsidiary of Kolon Group, a Korean conglomerate.

Established in 1998, EFMC started operations as a facility manager and became part of the Kolon Group in 2007. It specialises in water treatment and presently manages more than 75 water treatment facilities in Korea. 

StanChart has acquired a 40 percent stake in EFMC for $32 million and it will invest an additional $8 million to expand the business and identify investment opportunities in the environmental sector both in Korea and globally.

Joe Stevens, global head of principal finance at StanChart, said in a statement that the firm invested in EFMC because of its advanced technologies and deep knowhow in water-related businesses.

In April, StanChart invested an undisclosed sum in Man Infraconstruction, an Indian construction company. Two months prior to that, the firm invested up to A$80 million ($57 million; €43 million) in Straits Resources, a Perth-based mine developer and operator.

Standard Chartered Private Equity makes investments from its balance sheet. It invests in mid- to late-stage companies in need of expansion capital or acquisition finance, and in management buyouts in Greater China, India, Korea and Southeast Asia. The firm has invested a total of $1.24 billion in 27 companies thus far, a spokeswoman said.