CITIC launches tender offer for Japan's Schott Moritex

No financial details surrounding the offer were disclosed. According to a release, CITIC will make the acquisition via Capital Japan Partners II, a JPY18.1 billion ($154 million) cross-border focused buyout fund launched in 2010.

Schott Moritex was established in 1973, and has been part of the Schott Group since 2008. It develops technology in the fields of optical fibers, machine vision, automated optical alignment, optical lenses, and software.

The company claims to have the second-largest share of the global machine vision lenses market, and the fourth-largest share in machine vision LED lighting for image-processing applications. The business provides components for a range of sectors including automotive, medical, cosmetic, defense and aviation.

"To achieve incremental growth, CITIC Capital will leverage its unique capabilities, such as an extensive network and track record throughout China and the rest of Asia, resources, knowledge, consulting ability and business management know-how to support the further growth of Schott Moritex," said Hironobu Nakano, head of CITIC Capital Partners Japan.

Last month, CITIC exited a Japanese investment from the same fund when it sold Higashiyama Film, a maker of coated films for touch screens and flat panel displays, to Otsuka Chemical. CITIC Capital Partners, the private equity arm of CITIC Capital Holdings, operates in China, the US and Japan, and currently manages about $2.6 billion.

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• Topics
• North Asia
• Technology
• Buyouts
• Japan
• Technology
• CITIC Capital
• buyout