[2017.11.10] TPG, a global alternative asset firm, announced today it has entered into an agreement to make a significant minority investment in the Nox Group (“Nox”), a luxury flooring materials manufacturer. TPG will partner with CEO Dan Koh to support and accelerate Nox’s global growth.
Established in 1994, Nox is Korea’s largest manufacturer of luxury vinyl tile (LVT). Combining the look and feel of wood or ceramics while maintaining the lower maintenance cost and simpler installation process of vinyl, Nox creates more than 4,000 unique product designs in-house. Headquartered in Yesan, with manufacturing facilities in-country and in the U.S., Nox distributes its products with world-renowned quality and safety to more than 50 countries around the globe.
“The LVT market is growing rapidly as more and more customers search for affordable, tasteful alternatives to traditional wood and ceramic floorings. With its expansive product offering and advanced manufacturing capabilities, Nox has created a best-in-class option,” said Tim Dattels, Managing Partner of TPG Capital Asia. “We highly respect the leadership of Mr. Koh, who has led Nox through significant growth over the past seven years, and are excited work closely with him to continue to expand and enhance Nox’s global footprint.”
“Since founding, we have been committed to creating high-quality and reliable products for our customers,” said Dan Koh, CEO of Nox. “We hope to further this commitment with the support of our new partners at TPG, most immediately by expanding our capabilities and presence in Asia, supplementing our strength in the European and U.S. markets. Their global network and deep operational insight will add significant value as we aim to grow and accelerate Nox’s business.”
TPG’s investment in Nox marks its second in Korea this year, following its partnership with Kakao Mobility in June 2017.
TPG is a leading global alternative asset firm founded in 1992 with more than $73 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across its investment strategies and the performance of its portfolio. For more information, visit www.tpg.com.
TPG (Edelman Korea):
Cheehyun Lee: 82-10-8630-0656 /+82-2-2022-8235/ firstname.lastname@example.org
Kayla Ku: 82-10-9991-6277 /+82-2-2022-8227 / email@example.com