
CLSA exits Japan’s Everlife for $285m
CLSA Japan has sold its 100% stake in Japanese direct marketing company Everlife to Korea's LG Household and Health Care for JPY25.8 billion ($285 million).
According to an information release by LG Household and Health Care, the sale and purchase agreement was concluded on December 17 and the transaction was completed in late January.
Everlife, founded in Fukuoka in 1990, is Japan's third largest direct marketing company in the health care sector after Suntory and DHC. The company was valued at JPY37 billion, 6x estimated 2013 EBITDA.
CLSA Japan, a member of France's Crédit Agricole Group, had acquired the company in 2008 through CLSA Sunrise Capital Partners I, a 2005 -vintage Japan-focused fund with a commitment of $350 million. The fund focuses on buy-out and growth opportunities in the consumer retail, information technology, manufacturing and distribution sectors. Its other portfolio investments include civil-engineering firm Nihon Interground holdings, Kidoh Construction and retail apparel company Baroque Japan.
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