By Nam Hyun-woo
The logo of IMM Consortium
A consortium between IMM Private Equity and IMM Investment acquired Ecorbit, Korea’s largest waste management company, for 2.07 trillion won ($1.44 billion), the consortium said, Friday.
The consortium said it completed the transaction of taking over a 100 percent stake of Ecorbit from TY Holdings and private equity KKR. The share purchase agreement for the deal was signed in August.
Ecorbit is Korea’s leading environmental company, offering a comprehensive range of services in recycling, waste-to-energy, water treatment and landfill management, for which demand is showing a stable growth trajectory.
IMM said the company’s businesses span the waste management value chain, ensuring stability amid regulatory and macroeconomic challenges. In 2023, Ecorbit reported 699.6 billion won in revenue and 225 billion won in earnings before interest, taxes, depreciation and amortization (EBITDA), demonstrating its solid financial performance and robust cash flow.
Following the acquisition, IMM will focus on building up Ecorbit’s expertise through aggressive facility investments and expansions into new businesses by acquiring similar companies.
IMM said it plans to collaborate closely with Ecorbit’s management to implement strategic initiatives that strengthen the company’s presence in recycling and sustainable waste solutions.
“Recognizing the growing importance of environmental, social and corporate governance values, we will transform Ecorbit into a future-oriented leader in the environmental sector through digital transformation and the adoption of eco-friendly technologies,” an IMM official said.
"Through these efforts, we will contribute to the long-term growth of the domestic environmental industry and the creation of sustainable value.”
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