Unison to exit Japan's Ayumi to Blackstone
The Blackstone Group has made its first transaction in Japan, agreeing to acquire Ayumi Pharmaceutical Corporation from Unison Capital and medical information site operator M3.
Financial details of the transaction have not been disclosed, though Reuters reported that Blackstone will pay around $1 billion for Ayumi, including debt. The GP is investing from its first Asia private equity fund, which closed last year at $2.3 billion.
Ayumi manufactures a range of drugs focused on rheumatoid arthritis and orthopedic pain management. The company was formed in 2015 through the combination of pharmaceuticals maker Showa Yakukin Kako and the anti-rheumatic drug business of Santen Pharmaceutical. Unison acquired Showa Yakukin Kako in 2012 from Tokio Marine Capital, Polaris Capital, and PineBridge Investments.
“Ayumi has established a robust foundation as a leading specialty pharmaceutical company in the field of rheumatism and orthopedics, with world-class medical and scientific capabilities,” said Atsuhiko Sakamoto, a senior managing director and head of Japan private equity at Blackstone, in a statement. “We look forward to working with the company to leverage Blackstone’s global footprint and expertise in this sector to help Ayumi meet the growing need for its products.”
Blackstone established its Japan PE team in 2017, appointing Katsuyuki Kuki, formerly an investment banker with J.P. Morgan, as its chairman and representative director for the country. Sakamoto joined from Bain Capital later the same year. The firm has been seeking to broaden its focus beyond the Japanese real estate market, where it has been active since 2010.
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