CLSA buys Japanese online appliance business

This is the second acquisition this month and the third of 2018 by the private equity firm's Sunrise Capital III fund, which closed last year at $400 million. In addition to buying beauty salon chain Agu Group and uniform rental business Marubeni Mates, CLSA CP completed the bolt-on purchase of advanced industrial services company HamaEngineering by Outsourcing Investments, a portfolio company of an earlier fund.

Financial details of the Moa transaction were not disclosed, although Sunrise Capital III seeks buyouts of companies valued at JPY5-15 billion ($47-141 million). According to a statement, CLSA CP will drive growth by optimizing Moa's strengths and contributing its own experience in e-commerce. Moa has no plans to change its business operations or organizational structure.

Founded in 2004, Moa sells household electrical appliances to retail customers through its online platform Premoa, providing a range of services such as delivery and installation, along with after-sales support. The company also started its own line of appliances in 2013 under the Maxzen brand.

CLSA CP believes Moa is well-placed to take the lead in Japan’s underpenetrated e-commerce market thanks to its brand reputation and established relationships with suppliers and customers.

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• Topics
• North Asia
• Consumer
• Technology
• Buyouts
• Japan
• CLSA Capital Partners
• TMT