Carlyle Group to Buy South Korea's Chung Ho Group for $700 Million

Dow Jones
06/08
 

By Megan Cheah

 

Carlyle Group has agreed to acquire Chung Ho Group, seeking to support the South Korean home and healthcare appliance rental platform's growth.

Equity for the succession-driven deal will come from investment funds affiliated with Carlyle Asia Partners, its Asia buyout platform, Carlyle said Monday.

The deal's equity value is $700 million, according to people familiar with the matter.

Carlyle is buying as much as 100% of Chung Ho from the family of late founder H.D. Joung, said the Washington, D.C.-based buyout firm, which had $475 billion of assets under management as of end-March.

Chung Ho was founded in 1993 as a water-purifier manufacturer and has since evolved into a home and healthcare appliance rental company, offering finished-product rental, filter and component manufacturing, in-house installation and after-sales services.

The South Korean company is likely to benefit from long-term consumer demand for health and wellness-related home appliances, Carlyle said, adding it would invest in the brand and its product-innovation capabilities.

The deal is expected to close later this year.

Carlyle has invested more than $4 billion in South Korea over the past two decades, with stakes in companies including KB Financial Group, Hyundai Glovis and KFC Korea.

 

Write to Megan Cheah at megan.cheah@wsj.com

 

(END) Dow Jones Newswires

June 07, 2026 22:20 ET (02:20 GMT)

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