M&A Deal Summary

Unison Capital Acquires Asahi Tec

On January 4, 2012, private equity firm Unison Capital acquired manufacturer Asahi Tec from Graham Partners and Tokio Marine & Nichido Fire Insurance Co.

Acquisition Highlights
  • This is Unison Capital’s 2nd transaction in the Manufacturing sector.
  • This is Unison Capital’s 17th transaction in Japan.
Investment Fate
  • Asahi Tec was sold to a strategic buyer in 2018.

M&A Deal Summary

Date 2012-01-04
Target Asahi Tec
Sector Manufacturing
Buyer(s) Unison Capital
Sellers(s) Graham Partners
Tokio Marine & Nichido Fire Insurance Co.
Deal Type Secondary Buyout

Target

Asahi Tec

Kikugawa City, Japan
Asahi Tec Corp. is a manufacturer of highly engineered, value-added components and modules for automotive OEMs. Asahi Tec has manufacturing facilities in 3 countries.

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Buyer(S) 1

Buyer

Unison Capital

Tokyo, Japan

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 3.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Unison Capital is a private equity investment firm focused on control investments in mid-cap companies operating in Japan, Korea, and Singapore. Target transaction situations include growth support, business successions, corporate carve-outs, buyouts, and restructurings. Unison is a generalist investor, however the Firm has a preference for opportunities in the retail, niche manufacturing, and healthcare sectors. Unison Capital was formed in 1998 and has offices in Tokyo, Seoul, and Singapore.


DEAL STATS #
Overall 18 of 49
Sector: Manufacturing M&A 2 of 3
Type: Secondary Buyout M&A Deals 3 of 6
Country: Japan M&A 17 of 35
Year: 2012 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-01 Minit Asia Pacific Co.

Kawasaki, Japan

Minit Group is the global operator of the Mister Minit brand. Mister Minit stores provide high-end shoe repair, key cutting, engraving and watch repair services. The newly formed Minit Asia Pacific group has a store network of 600 owned and franchised stores throughout Japan, Australia, New Zealand, Canada and Singapore.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-19 MK Capital Management

Japan

MK Capital Management Corporation is a Japan-based company that operates in three business segments. The Asset Management segment is engaged in the provision of real estate purchase proposals and the arrangement of investment structure using investors' fund for investors, as well as the operation and management of real estate through special purpose companies (SPCs). MK Capital Management merged into IDERA Capital Management Ltd in 2012.

Sell -

Seller(S) 2

SELLER

Graham Partners

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 6.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Graham Partners is a private equity that targets middle market industrial and manufacturing companies. The Firm seeks to invest in businesses based in the US and also consider investments in Canada and Western Europe. Graham Partners focuses on strong growth potential companies with high return on invested capital, led by experienced management teams in revenues between $30 - $500 million and EBITDA between $5 million and $50 million. The firm typically invests between $10 million and $100 million in equity and the balance via debt and can invest higher than $100 million through co-investments. Broad areas of interest include building products, water management, medical products, consumer products, packaged food & beverage, packaging, aerospace/defense, agriculture, capital equipment, energy related products, home and outdoor, sports and leisure, and transportation services. Prospective transaction types include MBOs, recapitalization and growth capital financing. Graham Partners is an affiliate of The Graham Group was formed in 1988 and is based in Newton Square, Pennsylvania.


DEAL STATS #
Overall 8 of 38
Sector: Manufacturing M&A 1 of 7
Type: Secondary Buyout M&A Deals 2 of 15
Country: Japan M&A 1 of 1
Year: 2012 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-18 Mitten

Brantford, Ontario, Canada

Mitten Inc. is a manufacturer and distributor of vinyl siding, vinyl siding accessories, and other exterior building products. Mitten serves the repair & remodel and new housing segments of the Canadian, U.S., and international construction markets. Mitten's products are sold throughout North America and select international markets in Europe and Australia. In Canada, Mitten distributes its own manufactured vinyl siding as well as complementary third party products through 18 distribution centers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-27 Henry

El Segundo, California, United States

Henry is a manufacturer of roofing and roof maintenance products. Henry also manufactures complete lines of driveways coatings, commercial specialty products, and building envelope systems. Henry professionals offer designers, contractors, and building owners a combination of technical experience and a commitment to provide quality products. Henry was founded in 1981 and is based in El Segundo, California.

Buy -
SELLER

Tokio Marine & Nichido Fire Insurance Co.

Tokyo, Japan

Category Company
Sector Insurance
DESCRIPTION

Tokio Marine & Nichido Fire Insurance Co. Ltd. is a provider of various life insurance services.


DEAL STATS #
Overall 1 of 1
Sector: Manufacturing M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: Japan M&A 1 of 1
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-15 Asahi Tec

Kikugawa City, Japan

Asahi Tec Corp. is a manufacturer of highly engineered, value-added components and modules for automotive OEMs. Asahi Tec has manufacturing facilities in 3 countries.

Buy -