E&F Private Equity (E&F PE) is expected to complete its acquisition of local bathroom brand Inus Co Ltd in September.

Major domestic limited partners, including Korean Federation of Community Credit Cooperatives (KFCC), have decided to invest in a project fund formed by E&F PE to acquire construction company IS Dongseo’s ceramics operation, industry sources said on August 31. E&F PE agreed to buy a 100% stake in the operation for 217 billion won ($183 million) in February. The ceramics business has been split off from IS Dongseo and named Inus.

The acquisition of the ceramics business is likely to be completed in September, with some limited partners approving the transaction and the PE firm going through the administrative procedure.

“We have decided to make equity and mezzanine investments in the fund formed to acquire Inus,” said an official of a local limited partner. “A letter of commitment has been sent as it may generate some profits if the company manages to continue generating cash.”

Following the acquisition, E&F PE plans to purchase popular European brands to raise Inus’ valuation and expand the company’s business at home through a variety of marketing efforts.

IS Dongseo and E&F PE have strengthened their partnership through the latest deal. E&F PE has recently acquired Kolon Environment & Energy Co Ltd jointly with IS Dongseo and sold Insun Environmental Technology Co to IS Dongseo last year. The two firms also acquired 60% of Koentec and 100% of Saehan Environment together.

E&F PE’s takeover of Inus is likely to create synergies with its existing portfolio companies, including Goryeo Fittings and Daesang Tech-Roll.

Founded in 2014, E&F PE has focused on buyout strategies in the country’s environmental sector. (Reporting by Ik-hwan Choi)