Carlyle to Acquire Chung Ho Group in Korea

Seoul, South Korea - June 8, 2026 - Global investment firm Carlyle (NASDAQ: CG) today announced that it has signed a definitive agreement to acquire up to 100% of Chung Ho Group ("Chung Ho"), a leading Korean home and healthcare appliance ("HHA") rental platform. Equity for the investment will come from investment funds affiliated with Carlyle Asia Partners ("CAP"), its Asia buyout platform.

This proprietary, succession-driven transaction is between Carlyle and the members of the Joung family, the company's current shareholders. Terms of the transaction are not disclosed.

Founded in 1993 by the late Chairman Dr. H.D. Joung, Chung Ho has evolved from a water purifier manufacturer into a vertically integrated Korean HHA rental platform, with operations spanning finished-product rental, filter and component manufacturing, and in-house installation and after-sales services. The company serves a large, recurring customer base through a nationwide service network and has built a strong reputation for innovation in premium water purifiers, air purifiers, bidets, mattresses and other HHA products.

Carlyle believes Chung Ho is well-positioned to benefit from long-term consumer demand for health and wellness-related home appliances and the continued adoption of subscription-based products and services. Carlyle intends to support the company by investing further in its brand as well as product innovation capabilities to continue providing customers with reliable, high-quality services.

John Kim, Chairman of Carlyle Korea for CAP, said: "We believe Chung Ho is one of the leading Korean water purifier and home appliance companies, underpinned by strong brand equity and product capabilities. We are excited about the opportunity to partner with Chung Ho and to leverage Carlyle's experience and global network to further strengthen the company's market position and support its next phase of growth."

Icksoo Jung, Head of Carlyle Korea for CAP, said: "This succession-driven investment underscores Carlyle's ability to provide solutions in complex ownership and succession transitions for founder-led businesses in Korea. Carlyle has a deep understanding and strong expertise in navigating such transitions, which we believe will become increasingly important in the Korean market."

Dr. Kyung Eun Lee, Chairwoman of Chung Ho Group, said: "For more than three decades, Chung Ho has focused on delivering reliable, high-quality products and services to Korean consumers and has pioneered the premium water purifier and home appliance market. We believe this partnership with Carlyle will help the company build on Chairman H.D. Joung's legacy, continue to innovate, and create greater value for Chung Ho's customers and employees."

The transaction is expected to close in the third quarter of 2026, subject to customary regulatory approvals and closing conditions.

Carlyle is a leading global investment firm that has a long-standing presence in Korea, having invested more than US$4 billion in the market over the past two decades. Notable investments in Korea include ADT Caps, KB Financial Group, Kakao Mobility, A Twosome Place, Hyundai Glovis and KFC Korea.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $475 billion of assets under management as of March 31, 2026, Carlyle's purpose is to connect people, ideas, and capital to fuel growth for companies and performance for investors. Carlyle employs more than 2,500 people in 28 offices across four continents. Further information is available at https://www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

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