M&A Deal Summary

Tokyo Acquires Asahi House

On June 14, 2024, Tokyo acquired building materials company Asahi House from T Capital Partners

Acquisition Highlights
  • This is Tokyo’s 1st transaction in the Building Materials sector.
  • This is Tokyo’s 1st transaction in Japan.

M&A Deal Summary

Date 2024-06-14
Target Asahi House
Sector Building Materials
Buyer(s) Tokyo
Sellers(s) T Capital Partners
Deal Type Add-on Acquisition

Target

Asahi House

Nagoya City, Japan
Asahi House leases and sells portable toilets and other temporary construction tools for construction sites and sells light temporary materials mainly for construction sites. Asahi House was formed in 1975 and is based in Nagoya City, Japan.

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Buyer(S) 1

Buyer

Tokyo

Tokyo, Japan

Category Company
Founded 1951
Sector Utilities
Employees38,074
Revenue 6.81T JPY (2025)
DESCRIPTION

Tokyo is engaged in generation, transmission, and distribution of electric power. Tokyo was founded in 1951 and is based in Tokyo, Japan.


DEAL STATS #
Overall 3 of 3
Sector: Building Materials M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
Country: Japan M&A 1 of 1
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-21 Zenobe

London, United Kingdom

Zenobe is a developer, owner, and operator of battery storage assets. Zenobe provides a range of energy storage services to national grid electricity transmission with grid-scale batteries as well as charging solutions for EV bus operators and other applications. Zenobe was founded in 2017 and is based in London, United Kingdom.

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Seller(S) 1

SELLER

T Capital Partners

Tokyo, Japan

Category Private Equity Firm
Founded 1991
PE ASSETS 220.0B JPY
Size Large
Type Sector Agnostic
DESCRIPTION

T Capital Partners is a private equity firm focused on buyout and venture transactions in Japan. Within buyouts, the Firm looks to acquire controlling interests in established mid-cap companies with steady growth and strong market positions. T Capital will consider opportunities in a variety of sectors and generally partners with management when pursuing transactions. T Capital Partners was formed in 1991 and is based in Tokyo.


DEAL STATS #
Overall 15 of 15
Sector: Building Materials M&A 2 of 2
Type: Add-on Acquisition M&A Deals 11 of 11
Country: Japan M&A 15 of 15
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-29 World Party

Osaka, Japan

World Party is a company in the umbrellas and rain goods industry. The company has developed various brands such as "Wpc," a rain goods brand with a key focus on umbrellas, and KiU, an outdoor brand, and distributes products through a wide range of store sales networks and e-commerce in Japan and China. World Party was founded in 1985 and is based in Osaka, Japan.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-30 Optowl

Hanamaki, Japan

Optowl is an automotive stereo camera business and optical lens module business that supplies forklifts, by leveraging Ricoh-originated competitive optical technology. It also produces the optical lens modules, which contain cutting-edge technology of ultra-short throw lenses, and supplies them to the manufacturers of laser TV, PGU (Picture Generation Unit), and other devices. Optowl is based in Hanamaki, Japan.

Buy -