KKR Partners with LS Group on Electronics, Buys Copper Business
New York City-based private equity firm KKR & Co. announced two agreements with LS Group related to the South Korean conglomerate’s LS Automotive and LS Mtron’s (LSM) businesses.
#electronics
New York City-based private equity firm KKR & Co. announced two agreements with LS Group related to the South Korean conglomerate’s LS Automotive and LS Mtron’s (LSM) businesses.
The partners plan to form a joint venture that will give KKR a 47% stake in LS Automotive, while LS maintains a controlling 53% share. Formed in 1973, LSA makes switches, sensors, relays, interior lamps and various other electronics-related parts for Hyundai Motor Co. and other carmakers and tier one suppliers.
In addition, KKR will acquire full ownership of LSM's copper foil and flexible copper clad laminate operations, which makes parts for lithium-ion batteries used in electric vehicles. The business supplies Korea’s LG Chem and battery makers in China and Japan.
KKR is investing a combined 1 trillion won ($943 million) in the two deals as it expand its automotive portfolio. Most recently the buyout specialist completed its purchase of Japan’s Calsonic Kansei Corp., which makes HVAC systems, from Nissan Motor Co.
RELATED CONTENT
-
2019 Volvo XC40 T5 AWD Momentum and R-Design
Back in 2004, Volvo introduced a concept vehicle, called “Your Concept Vehicle,” in which case the pronoun essentially referred to women because as the company pointed out, the YCC was “the first car designed and developed almost exclusively by women.” Some would say that Volvo was ahead of its time—way ahead—with this idea.
-
Ford Expedition: Bigger, Better
If you’re going to introduce a new full-size SUV, you might as well do it in a place where there are more of them sold than anywhere else, says Joe Hinrichs, Ford president of the Americas.
-
Lincoln Corsair Takes Flight
“We wanted to create a dramatic, youthful Lincoln with terrific harmony.” And with the Corsair, they’ve accomplished what they set out to do.