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M&A Deal Summary

Rengo Co. Acquires Tri-Wall K.K.

On May 13, 2016, Rengo Co. acquired packaging company Tri-Wall K.K. from Trustar Capital

Acquisition Highlights
  • This is Rengo Co.’s 12th transaction in the Packaging sector.
  • This is Rengo Co.’s 7th transaction in Japan.

M&A Deal Summary
Date 2016-05-13
Target Tri-Wall K.K.
Sector Packaging
Buyer(s) Rengo Co.
Sellers(s) Trustar Capital
Deal Type Add-on Acquisition

Target

Tri-Wall K.K.

Tokyo, Japan
Tri-Wall K.K. engages in heavy-duty packaging materials industry, Leveraging on its strong brand, advanced technology and high quality of products and services, Tri-Wall has significantly extended its global footprints and service offerings, through continued expansion in China and other Asian regions as well as opening up of new markets including Europe, India and Middle East where huge growth opportunities are expected.

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Buyer(S) 1

Buyer

Rengo Co.

Osaka, Japan
Category Company
Founded 1909
Sector Packaging
Employees23,389
Revenue 993.3B JPY (2025)
DESCRIPTION

Rengo Co. is a paper box manufacturing company that offers cardboard and paper processing-related segment manufactures and sells paperboard, corrugated board, and corrugated boxes. Rengo was founded in 1909 and is based in Osaka, Japan.

DEAL STATS #
Overall 14 of 14
Sector: Packaging M&A 12 of 12
Type: Add-on Acquisition M&A Deals 10 of 10
Country: Japan M&A 7 of 7
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-15 San Tox

Tokyo, Japan

San Tox, Inc. is a manufacture and sale of plastic film, sales of secondary processed products of film

Buy -

Seller(S) 1

SELLER

Trustar Capital

Hong Kong, China

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 8.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trustar Capital is the private equity arm of financial services/asset manager CITIC Group. Trustar Capital separates its private equity investment activity into three groups; China, Japan, and the US. In general, Trustar looks to invest in companies with 'strong franchises', with established brands and high barriers to entry. For US-based opportunities, the firm looks to leverage its connections in China. Broad areas of interest include niche manufacturing, consumer products, and business services. The Firm does not invest in start-ups or distressed businesses. Trustar Capital is based in Hong Kong.

DEAL STATS #
Overall 10 of 28
Sector: Packaging M&A 1 of 1
Type: Add-on Acquisition M&A Deals 8 of 12
Country: Japan M&A 4 of 8
Year: 2016 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-20 Akakura

Tokyo, Japan

Akakura is engaging in the design and retailing of women footwear, selling through its directly-owned stores and website nationwide. Akakura is based in Tokyo, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-31 Gerber Technology

Tolland, Connecticut, United States

Gerber Technology, Inc. is a provider of sophisticated hardware and software systems to automate and more effectively manage the product design and manufacturing process. Gerber Technology, Inc. was founded in 1968 and is based in Tolland, Connecticut.

Sell -
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