CVC Capital Partners targeting Japanese consumer, retail and healthcare companies
CVC Capital Partners, the UK-based private equity firm, is targeting Japanese companies in the consumer, retail and healthcare sectors, a Newswire Round-up reported.
CVC Capital Asia Pacific (Japan) Managing Director Norimitsu Niwa said during an interview that the private equity company has USD 3.5bn in funds raised for Asian investments, and is looking for deals in the range of JPY 20bn-40bn (USD 169m-337m) each, Reuters said.
Niwa added that through the investments CVC is aiming to provide support to Japanese companies.
CVC Capital recently sold the majority of its holding in TechnoPro Holdings, via the company’s initial public offering that was valued at JPY 53bn, the report said. Niwa noted that CVC had been approached by several companies concerning its stake in TechnoPro, but the PE firm decided to sell via the IPO so that the name value of the company would receive a boost, and it also would improve employee morale.
In November, CVC acquired around a 50% stake in telecommunications company Arteria Networks for roughly JPY 150m, the report said.