EQT Buys Majority Stake in South Korean Security Provider SK Shieldus

By Dominic Chopping

STOCKHOLM--Swedish private-equity firm EQT AB said Friday it has agreed to acquire a majority stake in South Korean security provider SK Shieldus Co Ltd from SK Square Co. Ltd. and Macquarie Asset Management's infrastructure business.

SK Shieldus provides central monitoring and dispatch services, cyber security consulting and monitoring services, with the company acting as a de facto extension of Korean public police and security services, EQT said.

Following closing, EQT will own 68% in SK Shieldus while SK Square will hold the remaining 32%.

EQT said that with the acquisition it aims to enable more tailored and digitized security service offerings and decarbonize the company's vehicle fleet in favor of increased electrification.

A new board of directors will be put in place, combining EQT's industrial advisors and Korean business leaders, it added.

The deal is expected to close in the third quarter of 2023, subject to conditions and approvals.

With this transaction, EQT Infrastructure VI is expected to be 5% to 10% invested.

Financial terms weren't disclosed.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

March 03, 2023 06:07 ET (11:07 GMT)

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