CVC buys majority stake in Japan's Hasegawa

The deal will see CVC and founder Yoshihiro Hasegawa become joint shareholders in the company, according to a release. Financial terms of the transaction have not been disclosed.

Hasegawa seeks to assist Japanese families with a full spectrum of assistance based on their changing needs. Its current portfolio includes 105 senior homes aimed at Japan's growing elderly population and 68 nursery schools to help parents care for children. The company also operates professional cleaning services targeting both business and consumers through a network of around 1,700 franchisees nationwide.

"Japan's caregiving industry has grown dramatically in the past decade as a result of the country's ageing population who are supported by a new generation of double income families," said Atsushi Akaike, partner at CVC and head of the firm's Tokyo office. "We look forward to working with Mr. Hasegawa and the management team to support the business as they execute the next phase of their development."

CVC's investment came from its fourth pan-Asian fund, which closed in 2014 at $3.5 billion. The firm's recent investmetn activity includes the purchase of South Korean courier company Logen from Baring Private Equity Asia for a reported KRW300 billion ($270 million) and a take-private offer for Hong Kong-listed funeral services firm Nirvana Asia for $1.1 billion.

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• Topics
• North Asia
• Support services
• Healthcare
• Buyouts
• Buyout
• Japan
• CVC Capital Partners