[Edaily Marketin, Reporter Song Seung-Hyeon ] Private equity fund (PEF) manager UCK Partners has acquired the medical skincare company Seraderm. UCK Partners plans to pursue a “bolt-on” strategy, using Seraderm as a base to acquire additional companies in the exfoliation, medical device, and skincare sectors.

According to investment banking (IB) industry sources on the 7th, UCK Partners has acquired 100% of Seraderm’s shares. The transaction value is reported to be in the mid-to-high 20 billion won range.

Ceraderm is a medical skincare company that supplies peeling agents and skincare products to clinics and hospitals, including dermatology and plastic surgery practices. Founded in 1998 as its predecessor, Cerapia, the company launched its own brand, “Ceraderm,” in 2005 and incorporated as a corporation the following year. Its flagship products include natural organic acid-based peeling programs such as “Black Peel,” made from fermented black vinegar, and “Pink Peel,” which utilizes organic acids derived from fermented kudzu root. The company has been supplying products developed and validated by doctors to medical clinics and hospitals for nearly 30 years.

Currently, the company does business with over 3,000 clinics and hospitals in South Korea and supplies products overseas through exclusive distributors in about 20 countries. More than 80% of existing customers make repeat purchases. From the perspective of clinics and hospitals, the high switching costs associated with changing the products used in treatments create a structure that fosters long-term customer relationships.

Financial performance is also on the rise. Seraderm’s revenue last year was approximately 7.9 billion won, and this year, the company is expected to generate 10 billion won in revenue and 3 billion won in earnings before interest, taxes, depreciation, and amortization (EBITDA). Overseas sales account for over 50% of total revenue. Based on this year’s projected EBITDA, the company’s valuation was set at around 9 times that figure.

It is reported that UCK Partners highly valued Seraderm’s proven product capabilities, stability based on repeat purchases, and global growth potential driven by overseas sales. Another factor behind the investment was the potential to cross-sell other products to overseas hospitals and clinics by leveraging the company’s established overseas distribution infrastructure.

UCK Partners is pursuing a strategy of acquiring a series of peer companies in the consumer goods sector this year. In February, it acquired a 49.9% stake in Haenong, a seaweed manufacturer, and in May, it signed an agreement to purchase an 80% controlling stake in Manjeon Foods, known for its “Manjeon Kim” brand. The decision was based on the assessment that the two companies’ factories, located near Mokpo, could generate synergies in production and distribution.

UCK Partners plans to apply the same approach to Ceraderm. First, it will accelerate overseas growth by strengthening sales and marketing. Next, it will use Ceraderm as a cornerstone to drive industry consolidation. Potential acquisition targets include other peeling product companies that can generate synergies in product categories and distribution channels; medical device and injection treatment companies that can leverage overseas distributors; and B2C skincare brands that can be sold in overseas clinics and hospitals.