[Featured Stock] Stickinve, Pursuing Acquisition of Noksu, Hits 52-Week High for 2 Consecutive Days

52-Week High Continued for 9 Days After 8 Months
Global No.1 Commercial LVT Noksoo Preferred Negotiation Partner
Due Diligence Underway... Deal Potential Over 1 Trillion Won

Stick Investment has broken its 52-week high for two consecutive days. The upward trend continues following news of its pursuit to acquire the premium flooring company Noksu.

As of 10:03 AM on the 9th, Stick Investment is trading at 8,090 KRW, up 2.02% from the previous day. The day before, Stick Investment recorded an intraday 52-week high of 8,050 KRW for the first time in eight months, surpassing the previous 52-week high of 8,000 KRW set in August 2023. The stock price continues to show strength following the previous day’s gains.

According to the investment banking (IB) industry, Stick Investment has been selected as the preferred bidder for Noksu, which is being sold by the global private equity firm Texas Pacific Group (TPG). It is currently undergoing final due diligence. If the financing process is completed, a stock purchase agreement (SPA) is expected to be signed soon. Stick has sufficient funds, as it recently raised approximately 2 trillion KRW through Opportunity Fund No. 3. The acquisition target is a 65% stake in Morim, the holding company of Noksu. This stake was purchased by TPG in 2017 for 360 billion KRW.

Noksu’s 2022 revenue and operating profit were 340.3 billion KRW and 53 billion KRW, respectively. The company has established all processes including raw materials, machinery, and production systems for luxury vinyl tile (LVT) flooring. It holds the world’s number one market share in the commercial LVT market (approximately 20%). Most of its sales come from overseas. Industry insiders say the deal could be worth up to the trillion-KRW level.