Genesis Private Equity submitted a letter of intent to acquire D&T, a medical display manufacturer, joining at least six bidders in the preliminary round, with the shortlist expected to be finalized this month. The acquisition interest stems from D&T's stable cash generation capabilities and growth potential in the global specialty display market. Highland Equity Partners currently holds the majority stake after acquiring 92% of D&T's management shares in 2024 for approximately 170 billion won.
Multiple Bidders Submit Acquisition Proposals
Genesis PE recently submitted a letter of intent to D&T's selling side, according to investment banking industry sources. More than six bidders participated in the preliminary round. The selling side is currently reviewing each bidder's proposed acquisition price, funding capacity, and post-acquisition business plans. The shortlist selection is expected to occur this month.
D&T Specializes in Medical and Industrial Displays
Established in 1999, D&T produces specialty displays for medical, casino, and industrial applications. The company supplies products to medical equipment and casino devices that require higher quality and stability than general consumer displays. The business is characterized by significant barriers to entry due to the substantial time required for customer certification and product development.
Highland Equity Partners Acquired Majority Stake in 2024
Highland Equity Partners is D&T's largest shareholder. Highland EP acquired 92% of D&T's management shares from Kostone Asia and other holders in 2024 for approximately 170 billion won. Since the acquisition, Highland has pursued profitability improvements and customer diversification.
The market estimates D&T's enterprise value at 450 billion to 500 billion won. The selling side projects D&T's EBITDA for this year will reach 45 billion won, implying a valuation multiple of approximately 10 to 11 times.
D&T Revenue Reached 134.9 Billion Won in 2025
D&T recorded revenue of approximately 134.9 billion won and operating profit of approximately 26.3 billion won in 2025. Both figures increased compared to 2024 revenue of 123.9 billion won and operating profit of 19.6 billion won. The rapid performance improvement following the acquisition appears to have prompted the selling side to pursue investment recovery within a relatively short period.
Bidders reportedly value D&T's stable cash generation capacity and growth potential in the global specialty display market. Medical monitors are often supplied long-term after certification by hospitals and medical equipment companies, providing a stable profit structure.
FAQ
What did Genesis PE do regarding D&T?
Genesis Private Equity submitted a letter of intent to acquire D&T, a medical display manufacturer, joining more than six bidders in the preliminary round.
When will the shortlist for D&T acquisition be finalized?
The shortlist is expected to be selected this month, according to the selling side.
How much did Highland Equity Partners pay for D&T in 2024?
Highland Equity Partners acquired 92% of D&T's management shares in 2024 for approximately 170 billion won.
