December 15, 2014 / 8:27 AM / 4 years ago

CVC Capital to focus on consumer, retail companies in Japan

TOKYO, Dec 15 (Reuters) - Global private equity firm CVC Capital Partners Ltd will target consumer, retail and healthcare industries in Japan as its investment targets, a Tokyo-based senior CVC official said.

CVC, which earlier this year raised $3.5 billion fund for investments in Asia, aims to seek transactions where it can inject between 20 billion yen ($169 million) and 40 billion yen in cash in each deal, said Norimitsu Niwa, managing director CVC Capital Asia Pacific (Japan).

“Through our investments, we want to support Japanese companies’ expansion in Asia,” said Niwa in an interview on Monday.

CVC Capital has been active in Japan recently. It sold most of its stake in TechnoPro Holdings Inc, a technology staffing company which it invested in 2012, in an initial public offering worth 53 billion yen.

“We had been approached by strategic buyers as well as other private equity firms for a possible sale of TechnoPro,” said Niwa. “But we chose to sell the company in an IPO because in that way the company’s name value will be boosted, which would raise employees morale and motivation.”

The company, which made a market debut on Monday, employs about 10,000 research and development staff and these people work for Japanese firms in auto, chemical, information technology and other industries under a contract.

Last month CVC bought about 50 percent of Arteria Networks, a telecommunications subsidiary of Japanese trading house Marubeni Corp, for about $150 million yen.

In March, state-owned Japan Bank for International Cooperation (JBIC) invested $50 million in CVC’s Asian fund. Through the tie up, JBIC will help facilitate the sale of companies owned by CVC to Japanese firms. ($1 = 118.3200 yen) (Reporting by Junko Fujita; Editing by Anand Basu)

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