We provide private equity firms with comprehensive advice throughout their investment cycle from acquisition by means of leveraged buyout (LBO) or management buyout (MBO) or minority investment including PIPEs, through exit, depending on their investment strategies. At the acquisition/investment stage, we design and propose optimal transaction structures utilizing, among other things, tender offers, squeeze-outs and third-party allotments, as well as transaction finance structures including LBO finance. We also advise on effective strategies to address the risk of shareholder disputes such as appraisal suits, which are increasing in frequency, from the initial phase of the transaction. After the acquisition/investment, we provide strategic advice for the maximization of investment value by: (i) optimizing the capital structure through corporate reorganizations, refinancing of existing debt and co-investments by strategic partners; and (ii) enhancing the target company’s value through roll-ups, the introduction of incentive programs, development of internal management facilitating efficient business operations and compliance with applicable laws and regulations. At the exit stage, we provide one-stop services covering a wide range of exit options including initial public offerings, trade sales and business carve-outs.
- Advantage Partners, Inc. - Investment in Neo Corporation
- Goldman Sachs Securities Co., Ltd. - Sale of Japan Renewable Energy Co. Ltd.
- Senqcia Corporation: Transfer of subsidiaries to Rising Japan Equity, Inc.
- Integral Corporation: Investment in T-Garden Co., Ltd.
- Ichikara Inc. - B round equity financing of JPY 1.9 billion
- 2020 - 2021
- Kohlberg Kravis Roberts: Investment in Netstars Co., Ltd.
- Works Applications: Carve-out of its HR business and sale to Bain Capital
- Cool Japan Fund Inc. - Investment in Indonesian information technology giant Go-jek
- Shidax Corporation - Capital and business alliance with Unison Capital Partners IV, LPS and Unison Capital Partners IV(F), L.P.
- Cool Japan Fund Inc. - Joint venture with Yoshimoto Kogyo Co., Ltd. and NTT
Implications and Considerations for LBO Practices: Fallout from the Tokyo District Court’s 2020 decision on sellers’ obligations to deliver shares in disputed M&A transactionsArticles