CLSA makes Japan staffing bolt-ons
Outsourcing Investments (OSI), a Japanese business process outsourcing (BPO) firm owned by CLSA Capital Partners (CLSA CP), has acquired two domestic staffing service providers through bolt-on transactions.
According to a release, OSI has bought 100% stakes in Good Support and People Support, both of which are based in the Tokai region, a major manufacturing area in Japan. The companies provide hiring services for general manufacturing staff across a variety of industries. They are expected to complement OSI's strengths in engineering recruitment services for manufacturers as well as its geographic base in Yokohama.
Existing management will remain in place at both companies, which will be able to access OSI's hiring and client network to further expand their businesses. This is the second bolt-on for OSI this year. In February the firm acquired HamaEngineering, a provider of outsourcing maintenance services for the semiconductor manufacturing industry.
CLSA CP acquired OSI in 2016 for an undisclosed amount through its second Japan-focused fund, Sunrise Capital II. The Sunrise funds target leveraged buyouts of companies with enterprise valuations of JPY5-15 billion ($45-134 million) across sectors including consumer products, healthcare, retail, logistics, and manufacturing.
The latest fund in the series, Sunrise Capital III, closed last year at $400 million.
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