Bain Capital has acquired Japan-based engineering and software firm IDAJ, while Japanese conglomerate Sojitz has bought Australia-based CPE Capital’s used car unit.
IDAJ deal said to be around $147m
Bain Capital has acquired Japan-based engineering and software firm IDAJ for approximately $147 million, AVCJ reported, citing local media. The size of the investment was not disclosed.
Founded in 1994, IDAJ provides appropriate integrated solutions based on customer’s product design and development engineering process and technologies. The firm is present in the US, UK, South Korea, and China.
Bain Capital is one of the world’s leading private investment firms, with $160 billion in assets under management. In Asia Pacific, the firm’s private equity team has invested over $11 billion in more than 50 transactions. In December last year Bain Capital officially filed with the US Securities and Exchange Commission (SEC) to raise its fifth Asia-Pacific fund.
In April this year, the Boston-based firm acquired Evident Corporation from Japanese medical equipment manufacturer Olympus Corporation. According to a Reuters article published this month, Bain Capital’s new Asia fund will focus heavily on Japan.
Bain Capital secured over $2 billion for its second APAC special situations fund, the largest dedicated special situations fund in the region, in June last year. It also raised over $1 billion for a debut Japan buyout vehicle.
Sojitz buys part of Dutton Group
Japanese conglomerate Sojitz has acquired Australia-based CPE Capital’s used car unit, according to a release.
Sojitz acquired a part of used car dealing firm Dutton Group from CPE Capital for an undisclosed sum. CPE had acquired Dutton in 2016.
Dutton is the largest pure-play operator in the used car market in Australia with a network of trade partners and around 800 dealerships.
Sojitz has been dealing in certified pre-owned cars through its authorised dealers in Japan and other countries and operates a designated pure-play used car dealer for premium brand vehicles in Japan. Through this acquisition, Sojitz will enter the automobile sales business in Australia and aims to strengthen its automobile business portfolio.
Sojitz Corporation was formed out the union of Nichimen Corporation and Nissho Iwai Corporation in 2003. Currently, the group consists of approximately 400 subsidiaries and affiliates located in Japan and throughout the world.
The conglomerate is involved in automotive, aerospace, transportation, infrastructure, healthcare, metals, mineral resources, recycling, chemicals, consumer industry, agriculture and retail.