M&A Deal Summary

MBK Partners HK Acquires Hitowa

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

Acquisition Highlights
  • This is MBK Partners HK’s 4th transaction in the Consumer Services sector.
  • This is MBK Partners HK’s 8th largest (disclosed) transaction.
  • This is MBK Partners HK’s 11th transaction in Japan.

M&A Deal Summary

Date 2023-12-25
Target Hitowa
Sector Consumer Services
Buyer(s) MBK Partners HK
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 is based in Tokyo.

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Buyer(S) 1

Buyer

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 44 of 44
Sector (Consumer Services) 4 of 4
Type (Secondary Buyout) 5 of 5
Country (Japan) 11 of 11
Year (2023) 4 of 4
Size (of disclosed) 8 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-31 Medit

Seoul, South Korea

Medit is a provider of 3D measurement and CAD/CAM solutions. Medit specializes in model and impression 3D scanners for dental clinics and labs, including intraoral scanners, based on our own patented state-of-the-art technology. Medit was founded in 2000 and is based in Seoul, South Korea.

Buy ₩2.50T

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 13 of 13
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 4 of 4
Country (Japan) 13 of 13
Year (2023) 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” which was first issued in 1954. 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 is based in Tokya, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-27 Olympus Terumo Biomaterials

Tokyo, Japan

Olympus Terumo Biomaterials operates an orthopedic surgery business in Japan, manufacturing and selling artificial bones, metal plates for HTO (high tibial osteotomy), and other related products. The company has a strong presence in the market through the provision of distinctive products in cervical spondylotic myelopathy. Olympus Terumo Biomaterials is based in Tokyo, Japan.

Buy -