Bain Capital PE raises bid for Japanese printing services firm Kosaido to $157m

Bain Capital Private Equity has raised its tender offer price for Japanese printing services firm Kosaido by 14.7 per cent, according to a stock exchange filing.

The investor has revised its bid from 610 yen per share to 700 yen for the total 24.9 million shares of Kosaido, valuing the firm at about $157 million.

The Japanese company is deemed delisted following the management buyout.

“Privatisation is the most effective means for improving the company’s corporate value,” it said in the regulatory document.

The transaction will be implemented by Bain Capital’s wholly owned subsidiary KK BCJ-34.

If the offer is completed with KK BCJ-34 receiving at least 90 per cent of the total voting rights of Kosaido, the bidder will demand the sale of all remaining shares.

If the threshold is not met, Kosaido will be required to propose a reverse stock split that the ratio at which the number of shares held by stockholders, excluding the bidder, will be less than one share.

As of March 31, 2014, Kosaido had 11 subsidiaries and four associated companies. The company reported sales of ¥36.46 billion ($334.36 million) for the fiscal year ending March of 2018. It is engaged in printing and publishing businesses, recruitment, funeral services and golf course operation.

Bain Capital Private Equity manages $93 billion in assets, and has made over 800 investments to date.

Also read:

Bain Capital makes $139m bid to acquire Japanese listed entity Kosaido

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.