Japan PE acquires plastics manufacturer, elderly care business
Mid-market GP Japan Private Equity has acquired plastics manufacturer Sekisui Chemicals and care home services business Healthy Service via its third buyout fund.
Established since 1947, Tokyo-listed Sekisui is headquartered in Osaka and Tokyo, and employs over 23,000 people. The company produces a range of high-performance plastics used by the electronics, automobiles, life sciences and construction sectors.
The company reported net sales of JPY546 billion ($4.5 billion), and net income of JPY29 billion, for the six-month period ended September. This compares to net sales and income of JPY533 billion and JPY23 billion, respectively, for the same period a year ago.
Healthy Service is based in Chiba prefecture and provides in-home nursing services for the elderly through a national network of care providers and a number of small group nursing homes. The company has been operating since 1985 and employs around 683 nursing staff.
Both investments were made via Japan private Equity Fund III, JPY2.7 billion fund which reached a final close in 2008.
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