SEOUL — Bain Capital, a leading global private equity firm, is set to acquire Echo Marketing, a KOSDAQ-listed digital marketing giant and the parent company of athleisure brand Andar. The firm plans to take the company private through a comprehensive tender offer for the remaining shares.

Key Transaction Details
According to a public announcement on January 1, BCPE EA Bidco, a special purpose vehicle (SPV) established by Bain Capital, has launched a tender offer to purchase 17,497,530 common shares (56.4%) of Echo Marketing.

Offer Price: 16,000 KRW per share
Premium: Approximately 49.53% over the previous closing price (10,700 KRW)
Total Acquisition Value: Estimated at 280 billion KRW
Tender Period: January 2 to January 21, 2026
Lead Manager: NH Investment & Securities

The SPV previously signed a definitive agreement on December 31, 2025, to acquire a 43.6% stake (13,534,558 shares) from the company’s founder and CEO, Kim Chul-woong, and his wholly-owned entity, AI Marketing Group, at the same price of 16,000 KRW per share.

Management Continuity and Strategy
In alignment with Bain Capital’s request, CEO Kim Chul-woong will remain with the company for one year following the closing of the transaction, serving as either CEO or a senior advisor to ensure a smooth transition and operational continuity.

Echo Marketing, primarily known as a premier online advertising agency, has built a robust reputation for its "Business Boosting" model—investing in and scaling undervalued companies. Its portfolio includes:

Daily&Co: Acquired in 2017, the creator of the viral "Klug" massager and "Mongze" premium mattresses.
Andar: The top-tier athleisure brand acquired in June 2021. As of Q3 2025, Andar recorded cumulative revenue of 213.2 billion KRW and an operating profit of 25.1 billion KRW.

Bain Capital’s Growing Footprint
This acquisition marks another significant move by Bain Capital in the Korean consumer and healthcare sectors. The firm has been aggressively expanding its portfolio, having previously acquired medical aesthetics companies such as Classys in 2022 and Ilooda in 2023.

Industry analysts view this move as a strategic play to maximize the global growth potential of Echo Marketing’s core brands, particularly Andar, under a private ownership structure.

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