KDB Capital under state lender Korea Development Bank has partnered with domestic equity firm Aves Partners to acquire patent-strong SeAH Engineering.

According to the investment banking industry on Tuesday, KDB Capital and Aves Partners set up a consortium to buy a 100-percent stake in SeAH Engineering. Financing would come from the blind fund budgeted at 100 billion won ($75.48 million) they created last year to help the M&A activities of small and mid-sized firms plus a new project financing fund.

SeAH Engineering, established in 1987 under SeAH Group, manufactures industrial equipment, including turbo compressors and turbo blowers. It is one of global seven capable of developing, designing, and producing turbo compressors.

The company owns 11 patents and 16 in various certifications.

It has supplied its turbo products to 20 countries worldwide and plans to expand its market boundaries.

By Kang Doo-soon and Jenny Lee

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