M&A Deal Summary

MBK Partners Acquires Hitowa

On December 25, 2023, private equity firm MBK Partners acquired consumer services company Hitowa from Polaris Capital Group for 90.0B JPY

Acquisition Highlights
  • This is MBK Partners’ 4th transaction in the Consumer Services sector.
  • This is MBK Partners’ 8th largest (disclosed) transaction.
  • This is MBK Partners’ 12th transaction in Japan.

M&A Deal Summary

Date 2023-12-25
Target Hitowa
Sector Consumer Services
Buyer(s) MBK Partners
Sellers(s) Polaris Capital Group
Deal Type Secondary Buyout
Deal Value 90.0B JPY

Target

Hitowa

Tokyo, Japan
Hitowa is a corporate group with a nursing care business that operates nursing care homes for the elderly under the Irise brand, a franchise business that mainly provides house cleaning services under the Osoji Honpo brand, and a childcare business that operates licensed nurseries under the Taiyono-ko brand. Hitowa was founded in 1997 and is based in Tokyo, Japan.

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Buyer(S) 1

Buyer

MBK Partners

Hong Kong, China

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 30.0B 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 46 of 48
Sector: Consumer Services M&A 4 of 4
Type: Secondary Buyout M&A Deals 5 of 7
Country: Japan M&A 12 of 13
Year: 2023 M&A 6 of 6
Size (of disclosed) 8 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-01 Soyokaze

Tokyo, Japan

Soyokaze provides daytime care services and operates nursing care homes for the elderly. Soyokaze has been taking care of elderly citizens for 27 years. Soyokaze is based in Tokyo, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-22 Geo-Young

Seoul, South Korea

Geo-Young is a wholesale distributor of pharmaceutical drug products in Korea. Geo-Young serves more than 250 multi-national and domestic pharmaceutical and medical device companies, distributing to more than 11,000 pharmacies, hospitals, and clinics through its nationwide logistics network. Geo-Young was founded in 2002 and is based in Seoul, South Korea.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

Polaris Capital Group is a private equity firm focused on mid-sized opportunities throughout Japan. Polaris generally seeks manufacturing companies with competitive technologies/processes, but the Firm will also consider consumer goods, retail, logistics and other service based businesses possessing strong brands or unique business models with potential to expand. Prospective transaction situations of interest include business successions and corporate carve-outs. Polaris Capital Group was formed in 2004 and is headquartered in Tokyo.


DEAL STATS #
Overall 23 of 23
Sector: Consumer Services M&A 3 of 3
Type: Secondary Buyout M&A Deals 6 of 6
Country: Japan M&A 23 of 23
Year: 2023 M&A 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-22 Sendenkaigi

Tokyo, Japan

Sendenkaigi publishes monthly magazines and books in the advertising, sales promotion, publicity, and creative fields, including a monthly magazine called “Sendenkaigi”. In addition, the company operates a news and information platform for the advertising community in a web media format called “AdverTimes.”. It also manages an event and awards business that organizes lectures and exhibitions in the marketing and communications fields and holds public contests in the creative and planning fields, as well as an education business that plans and conducts public courses and training/seminars for corporates in the marketing and communications fields. Sendenkaigi was founded in 1954 and is based in Tokyo, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-27 Welbe

Tokyo, Japan

Welbe provides disability welfare services under the Comprehensive Support for People with Disabilities Act (such as labor transition support services), Child development support under the Child Welfare Act, and nursing care and nursing services. Welbe was founded in 2011 and is based in Tokyo, Japan.

Buy -