Mico Group announced that it will acquire the world’s top design firm Netland NEM, thereby combining its design and production capabilities to achieve a combined revenue of 2 trillion won in 2027. The acquisition is part of Mico’s ongoing strategic moves, which have included mergers with companies such as Komiko, a semiconductor parts and coating company, and Mico Seramiks, a manufacturer of ceramic components.
The acquisition will be completed in 2024 together with Hyundai Jungong Industrial Power System (HPS) and PlanTex; the latter two deals followed Netland’s recent acquisition. These moves are linked to Mico’s plan to make energy business its next growth engine. In particular, the group’s head of energy business is also CEO of HPS and PlanTex.
Through this acquisition, Mico Group will strengthen its design and manufacturing capabilities and expand its US factories and global production hubs. The goal of 2 trillion won in 2027 is a strategy to maximize synergy with existing businesses.
These types of acquisitions and mergers demonstrate that Mico Group wants to increase competitiveness in domestic and overseas markets while building a sustainable growth path. The company sees this deal as an opportunity to expand core business areas that align with future industry trends.