AVCJ

Carlyle to make partial exit with Broadleaf IPO

  • Andrew Woodman
  • LinkedIn  
  • Google plus  
  • Save this article  

The Carlyle Group is set to exit the majority of its stake in Broadleaf following the Japanese company's announcement that it would seek to raise up to JPY23.3 billion ($248.37 million) through an IPO.

According to IFR Asia, Carlyle-related funds will offload 16.48 million shares in Broadleaf, which makes software for car maintenance facilities. The sale represents around 85% of Carlyle's current holding in the company and is expected to raise JPY17.8 billion.

A regulatory filing shows that 2.3 million new shares will be issued with the total number of listed shares coming to 18.78 million. The expected pricing date is March 1, with an offering to take place on March 13. Nomura is the lead underwriter.

Carlyle acquired Broadleaf in 2009 when it took a 100% stake from Olympus Corp. through a JPY19.5 billion management buyout. The acquisition was made via Carlyle Japan Partners II, a 2006 vintage fund that closed at JPY215.6 billion, although its corpus was subsequently reduced to JPY165.6 billion.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on North Asia

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs