NH Investment & Securities Co. has hit a jackpot with huge payoff from its successful deal to sell Tongyang Magic Inc., a South Korean kitchen appliance manufacturing and rental company, to SK Networks Co.

According to sources on Thursday, NH Investment & Securities could enjoy a profit of about 30 billion won ($26.3 million) from the latest deal including some million dollar performance fees.

NH Private Equity under NH Investment & Securities formed a consortium with Glenwood Private Equity to acquire Tongyang Magic at about 300 billion won in 2014 and picked SK Networks that offered 610 billion won for the entire stake in the home appliance making and renting company as the exclusive bidder in late September this year.

Back in 2014, NH Investment & Securities injected 20 billion won as a major limited partner into the consortium to buy Tongyang Magic. The brokerage house is expected to rake in about 20 billion won as its share almost as much as its original investment amount when the entire deal process is completed at the end of next year.

Including brokerage fees the its IB division is expected to rake in as a lead financial advisor for the latest sale deal, NH Investment & Securities can expect more than 30 billion won in profit from the single deal.

A market watcher said "NH Investment & Securities’ IB division is estimated to have earned about 130 billion won in ordinary profit for the first 10 months of this year, which already exceeds its full-year profit of 117 billion won of last year and the profit will further grow considering its lucrative deal.”

Including NH Investment & Securities’ investment of 20 billion won in Tongyang Magic in 2014, NH Financial Group affiliates together chipped in 100 billion won in total and they could garner a return of about 100 percent in just two years.

By Kang Doo-soon

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