Japan's Endeavor United secures two industrials deals

Sunrise has been supplying customers in the food industry for 40 years and Endeavour plans to work with management on business infrastructure improvements and new growth initiatives. Kodama Chemical specializes in resin processing, primarily for automotive components, sanitary ware and disk cases. It recently filed for a turnaround alternate dispute resolution (ADR), which allows stressed companies to forgo bankruptcy proceedings and restructure their debts.

Both investments come from Endeavour’s second fund, a JPY35.1 billion ($320 million) vehicle that closed in 2018. The private equity firm raised JPY22.7 billion for its debut fund in 2016. They also represent Endeavour’s second and third deals in the space of a month, following the acquisition of homebuilder Hoei Construction from World Holdings in January.

The Endeavour team claims to have raised JPY300 billion across 11 funds and invested JPY260 billion in more than 50 companies since 2002, most of this activity coming under the Phoenix banner. It specializes in identifying management issues and providing remediation solutions, as well as developing mid-term management plans, supporting governance improvements, and pursuing management team augmentation and M&A opportunities.

Last year, the firm made seven new investments in areas such as industrial manufacturing, construction, golf course management, tourism services, and pizza delivery. In 2017, Endeavour acquired the Pizza Hut Japan business.

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• Topics
• North Asia
• Industrials
• Buyouts
• Japan
• manufacturing
• Endeavor United