Bain Capital completes $817m acquisition of Japan’s Showa Aircraft

Boston-headquartered private equity firm Bain Capital has completed a majority investment in Japan’s Showa Aircraft Industry for 90 billion yen ($817 million) and delisted the company from the local stock exchange.

The final transaction price is 30 per cent higher than the 69.4 billion yen Bain Capital offered in January this year.

Founded in 1937, Showa Aircraft is engaged in products related to the transportation industry including honeycomb core panels and other industrial applications. It also operates a significant portfolio of properties and commercial facilities in Akishima City, including golf courses, hotels and shopping malls.

“Through the redevelopment of Showa Aircraft’s real estate assets, we hope to support the local economy in Akishima and meet the growing demands of the city’s expanding population,” said David Gross-Loh, a managing director of Bain Capital Private Equity.

Loh said Bain Capital will support and continue to grow Showa Aircraft’s manufacturing business.

The private equity firm is looking at ramping up its presence in the Japanese buyout market, having recently offered to take medical services group Nichii Gakkan private in a $1.17 billion management buyout.

Bain Capital first entered Japan in 2006 with an office in Tokyo. Since then, it has invested in 17 local companies.

It was earlier said to be raising capital for its first Japan buyout fund that will focus on mid-sized companies in the country. If successful, Bain Capital will join global alternative investment firms Carlyle and KKR in raising dedicated vehicles for Japan.

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. 
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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.