Key Takeaways
- • KKR agreed to sell Central Tank Terminal (CTT) in Japan to Integral and Central Terminal Korea (CTK) to Bain Capital in separate transactions, exiting both assets approximately five years after initial acquisition.
- • The combined transaction is estimated to generate more than 500 billion won (approximately $527 million USD) in proceeds for KKR, with CTK alone valued above 200 billion won.
- • KKR originally pursued a package sale but shifted to separate transactions after prospective buyers, including MBK Partners, expressed preference for individual acquisitions rather than a combined deal.
- • CTK, based at Ulsan Port and tracing origins to Taeyoung Industry, generated 45.2 billion won in revenue and 14.9 billion won in operating profit in the prior year, positioning it as a key asset in the petrochemical supply chain.
- • KKR acquired CTT from Macquarie Group in 2021 and subsequently expanded operations to Korea with the CTK acquisition in 2023; both assets are now transferring to separate institutional investors under separate agreements.
Summary
KKR has completed agreements to divest its tank terminal operations in Asia, selling Central Tank Terminal (CTT) in Japan to Integral and Central Terminal Korea (CTK) to Bain Capital in separate transactions concluded as of September 30, 2026. The sale represents KKR's exit from both markets within approximately five years of acquiring the assets, reflecting a disciplined hold period consistent with typical private equity fund timelines.
The transaction value is estimated at more than 500 billion won in aggregate proceeds, with CTK alone valued above 200 billion won. Nomura Securities served as the sell-side advisor for KKR beginning in the first half of 2026. The sale process initially targeted a package acquisition of both assets; however, KKR modified its strategy after market feedback indicated prospective buyers preferred individual acquisitions. Multiple institutional investors competed for the assets during the bidding process, with MBK Partners reportedly pursuing a package acquisition as one of the primary contenders.
CTT operates 12 tank storage terminals across major industrial regions in Japan, specializing in chemical and energy storage, loading, and unloading operations. KKR acquired CTT from Macquarie Group in 2021 and subsequently expanded its tank terminal footprint through the 2023 acquisition of CTK, which operates a terminal at Ulsan Port in South Korea. CTK traces its operational lineage to Taeyoung Industry and serves as a critical logistics node in petrochemical supply chains. In the prior fiscal year, CTK generated 45.2 billion won in revenue with operating profit of 14.9 billion won.
Kim Chan-su, CEO of CTK, stated that during KKR's ownership period the company "advanced its growth plans and strengthened its sales and operational capabilities," signaling management continuity expectations under Bain Capital's incoming ownership. The separation of these assets into individual transactions with distinct acquirers reflects market conditions and buyer preferences, allowing each institutional investor to tailor integration and operational strategies to their respective regional expertise.
The transaction value is estimated at more than 500 billion won in aggregate proceeds, with CTK alone valued above 200 billion won. Nomura Securities served as the sell-side advisor for KKR beginning in the first half of 2026. The sale process initially targeted a package acquisition of both assets; however, KKR modified its strategy after market feedback indicated prospective buyers preferred individual acquisitions. Multiple institutional investors competed for the assets during the bidding process, with MBK Partners reportedly pursuing a package acquisition as one of the primary contenders.
CTT operates 12 tank storage terminals across major industrial regions in Japan, specializing in chemical and energy storage, loading, and unloading operations. KKR acquired CTT from Macquarie Group in 2021 and subsequently expanded its tank terminal footprint through the 2023 acquisition of CTK, which operates a terminal at Ulsan Port in South Korea. CTK traces its operational lineage to Taeyoung Industry and serves as a critical logistics node in petrochemical supply chains. In the prior fiscal year, CTK generated 45.2 billion won in revenue with operating profit of 14.9 billion won.
Kim Chan-su, CEO of CTK, stated that during KKR's ownership period the company "advanced its growth plans and strengthened its sales and operational capabilities," signaling management continuity expectations under Bain Capital's incoming ownership. The separation of these assets into individual transactions with distinct acquirers reflects market conditions and buyer preferences, allowing each institutional investor to tailor integration and operational strategies to their respective regional expertise.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.