STIC exits Jeil Hydraulics for 3.1x return
STIC Investments has exited its stake in Jeil Hydraulics, a Korean manufacturer of hydraulic motors and related components, to Eaton Corporation for KRW30.8 billion ($26.8 million). The investment generated a 3.1x money multiple.
STIC paid KRW10 billion for a 22% stake in the company in late 2009 via STIC Private Equity Fund II. The initial plan was for Jeil to list on the Korean exchange, generating capital for further expansion...
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