Japanese PE J-STAR acquires waste management firm SINCERE Corp

REUTERS/Yuriko Nakao

Japanese private equity firm J-STAR announced last week that it has agreed to acquire the waste management firm SINCERE Corporation for an undisclosed sum.

J-STAR is acquiring all the shares owned by the company’s present owners and also some shares from the Japanese multinational IT and electronics firm NEC Corporation, which is also SINCERE’s main customer. “The holding company will support SINCERE in maintaining and improving its organisational structure, which enables it to provide stable services, and in growing as an ‘environmental solutions company’,” J-STAR said on its website.

Founded in 1969, Tokyo-based SINCERE specialises in industrial waste management, including resource cycle operations, recycling, environmental impact improvement, and building maintenance.

According to Crunchbase, J-STAR, a mid-market player in the Japanese private equity market founded in 2006, has so far launched three funds. The firm closed its latest buyout fourth fund at 48.5 billion yen ($458.18 million) in December last year. J-STAR usually seeks equity investments of 1-3 billion yen ($9.1-27.4 million), but may consider bigger investments depending on the nature of the business and the deal situation.

This year, J-STAR acquired the Japanese restaurant chain Pepper Lunch for $79 million. Its portfolio companies also include GINO, a platform to learn coding, content creation firm Kurashino, lifestyle media publisher 1k, and user behaviour analyst CRAFTA, which it acquired for an undisclosed sum in October.

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).   

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  • 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.