J-Star sells 20% stake in staffing service firm Aki-Japan to UT Group

photo by Bence Balla Schottner on Unsplash

Japanese private equity firm J-Star has partially divested its stake in Aki-Japan Corporation, a construction industry-focused engineering staffing service firm, according to a press announcement.

As part of the deal, J-Star has transferred a 20% stake in Aki-Japan to staffing firm UT Group Co, Ltd for an undisclosed sum.

J-Star’s investment in the firm was conducted through J-CEP, the holding company investing in Aki-Japan through its parent company AJ Holdings and Act-Japan.

J-Star completed the acquisition of Aki-Japan in February 2021, per its announcement.

Aki-Japan Corporation, which includes AJ Group together with AJ Holdings and Act-Japan, has been providing engineering staffing service to the construction industry since 2007.

The group’s client base mainly consists of leading construction companies in Japan. The engineers who work with these clients across the country are hired by Aki-Japan and fully trained in the group company.

Following the stake sale, J-Star will partner with UT Group to accelerate sustainable business growth.

J-Star commits to supporting AJ Group’s businesses such that the alliance promotes a higher level of value creation and customer satisfaction through business developments making use of the expertise of both groups.

Founded in 2006, J-Star has $300 million of assets under management, according to its website.  J-Star has two buyout funds that include J-Star No 1 Limited Investment Partnership which was launched in 2006 with 12 billion yen of capitalization. The second fund, J-Star No 2 Limited Investment Partnership, closed in 2013 with 20 billion yen of hard-cap.

Singapore Reporter/s

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

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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.