M&A Deal Summary

Fortress Acquires Accordia Golf

On November 15, 2021, asset manager Fortress acquired leisure company Accordia Golf from MBK Partners HK for 3.5B USD

Acquisition Highlights
  • This is Fortress’ 3rd transaction in the Leisure sector.
  • This is Fortress’ 4th largest (disclosed) transaction.
  • This is Fortress’ 1st transaction in Japan.

M&A Deal Summary
Date 2021-11-15
Target Accordia Golf
Sector Leisure
Buyer(s) Fortress
Sellers(s) MBK Partners HK
Deal Type Secondary Buyout
Deal Value 3.5B USD

Target

Accordia Golf

Tokyo, Japan
Accordia Golf is a diversified owner of golf courses and golf driving ranges across Japan. Accordia Golf was founded in 1981 and is based in Tokyo.

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Buyer(S) 1

Buyer

Fortress

New York, New York, United States
Category Asset Manager
Founded 1998
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund, credit, and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress was formed in 1998 and is based in New York City.

DEAL STATS #
Overall 41 of 45
Sector (Leisure) 3 of 3
Type (Secondary Buyout) 3 of 5
Country (Japan) 1 of 2
Year (2021) 2 of 3
Size (of disclosed) 4 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-15 Foundation Home Loans

Bracknell, United Kingdom

Foundation Home Loans is a specialist in the European mortgage lending, servicing, and securitization markets. Foundation Home Loans is based in Bracknell, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 Punch

Burton upon Trent, United Kingdom

Punch is a pub and bar operator in the United Kingdom, with around 1,300 leased pubs. Punch Taverns was formed in 1997 and is based in Burton upon Trent, United Kingdom.

Buy -

Seller(S) 1

SELLER

MBK Partners HK

Hong Kong, China

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 25.6B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MBK Partners is a private equity firm focused on opportunities throughout Northern Asia (Korea, Japan, China, and Taiwan). MBK specializes in a variety of transactions, including management buy-outs, corporate divestitures, take privates, and add-on acquisitions and will consider both majority and minority positions. Sectors of interest include telecommunication/media, financial services, heavy industrials, consumer, pharmaceuticals, and business services. MBK Partners was formed in 2005 and is based in Hong Kong. The Firm has additional offices in Seoul, Tokyo, and Shanghai.

DEAL STATS #
Overall 20 of 20
Sector (Leisure) 1 of 1
Type (Secondary Buyout) 5 of 5
Country (Japan) 5 of 5
Year (2021) 2 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-09 Car

Beijing, China

Car is an automobility provider in China, offering car rental and fleet rental services to individual and corporate customers. The company's technology- and innovation-driven business model, combined with the effective strategy of expansion along the value chain, enables it to provide auto mobility solutions that evolve with times, enhance customer experience, and capture opportunities arising from revolutionary changes in the auto related industry. It's mission is to enhance the quality of daily life through innovation as it builds the largest new generation of vehicle mega-sharing platform in China. Car was founded in 2007 and is based in Beijing, the People's Republic of China.

Buy $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-03 Dongjin Textile and Kyungjin Textile

Busan, South Korea

DJT is a specialized shoe textile manufacturing company that has production facilities in Vietnam and Indonesia. DJT is a key supplier of synthetic textiles to global athletic footwear brands, including Nike and Adidas. DJT was founded in 1968 and is based in Busan, South korea.

Buy $654M
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