Standard Chartered Private Equity invests $60 mln in AJ Networks

Standard Chartered Private Equity has invested $60 million in AJ Networks, an equipment rental company in Korea. AJ Networks was established in 2000.

Press Release

Standard Chartered Private Equity (“SCPE”) has announced a USD60 million investment in AJ Networks Co., Ltd. (“AJ Networks” or the “Company”).

Established in 2000, AJ Networks is a leading equipment rental service provider in Korea. The company offers a broad range of rental products including office IT equipment, pallets, aerial lifts and construction equipment. AJ Networks is the largest shareholder of the KOSPI-listed AJ Rent A Car, Korea’s second largest car rental business.

Taeyub Kim, Managing Director and Head of Korea at SCPE, said, “AJ Networks has established leading market positions in fast-growing segments within the larger rental industry in Korea. We are excited about the Company’s growth strategy amid the backdrop of rapidly rising industry demand for rental goods. We look forward to supporting the Company’s expansion plans both domestically and internationally.”

About Standard Chartered Private Equity

Standard Chartered Private Equity (“SCPE”) is the private equity arm of Standard Chartered Bank. SCPE invests in companies in need of expansion capital or acquisition finance, and in management buy-outs. SCPE focuses on companies whose principal operations and management are located in Asia, Africa or the Middle East. It is an active partner that provides board-level strategic advice and access to the international network of Standard Chartered Bank. SCPE Korea currently has investments of USD 800 million in Korea.