Funds affiliated with Baring Private Equity Asia (BPEA) has acquired South Korean consumer finance and leasing company Acuon Capital from JC Flowers & Co.

Financial terms of the acquisition were not disclosed.

Headquartered in Seoul, Acuon has $3.9bn loan portfolio and 335,000 customers.

JC Flowers formed the financial services company by merging three local lending businesses which it acquired between 2015 and 2016.

It includes Acuon Capital, formerly KT Capital; Doosan Capital; and Acuon Savings Bank, formerly HK Savings Bank.

Post acquisition, JC Flowers invested in the combined company to grow its retail consumer lending business, expand distribution channels and upgrade IT infrastructure.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

JC Flowers managing director Thierry Porté said: “JC Flowers is proud to have created a successful diversified corporate and retail lending business with a strong franchise, and we are confident that the Acuon management team has found the right partner in BPEA to take the company forward.

“JC Flowers’s deep financial expertise in the Asian financial markets made us uniquely qualified to manage this complex deal.

“We are pleased with our experience investing in South Korea and we look forward to seeking other opportunities in this market in the future.”

BPEA managing director Han Chul Kim said: “We see Acuon as a rare opportunity to acquire control of a combined savings bank and a capital company in Korea.

“After a successful period of integration under J.C. Flowers’s ownership, we are looking forward to helping the company accelerate its growth trajectory and capitalize on the increasing demand for alternative lenders.”