BDA Partners is pleased to announce that an investment fund managed by its client J-STAR Co Ltd has divested all its shares of Taiheiyo Seiki Holding KK to TKY KK.

Taiheiyo Seiki is a leading manufacturer of undercarriage parts and precision hydraulic components for construction and mining machinery, with a focus on hydraulic excavators. Taiheiyo Seiki has manufacturing facilities in Japan and China, and sells its products to construction equipment OEMs globally.

The buyer, TKY, is part of the Takitai Group, based in Niigata, Japan, which is active in a number of sectors including textiles and real estate.

Transaction highlights:

  • Relationships and sector knowledge: J-STAR was attracted to BDA’s industrials and construction equipment track record, and ability to identify and effectively engage with the most likely acquirors. By drawing on its experience in the construction equipment sector, BDA was able successfully to position the investment merits of the asset.
  • Global execution expertise: BDA has a history of delivering strong outcomes from competitive global processes. BDA executed a global transaction process that produced a competitive dynamic, an attractive valuation, and favourable economic terms for the seller.
  • Trusted guidance: BDA’s deal team was integrally involved through each step of the transaction. Hands-on involvement and effective communication from BDA’s bankers ensured seamless execution, resulting in an outstanding outcome for J-STAR.

BDA Deal Team
Jeff Acton, Managing Director, Tokyo
Toshiaki Yokohara, Director, Tokyo
Philip Lazar, Associate, Tokyo
Saki Muto, Analyst, Tokyo

About J-STAR
Founded in 2006 as an independent firm, J-STAR is involved in private equity investment, targeting corporate value enhancement via acquiring management rights. J-STAR commits to provide solutions to resolve problems which managements are facing. It also focuses on growth story of each target company. J-STAR has the following three standards for investment: (1) a superior management team and staff, (2) ample potential for increasing added value through the contributions of fund managers and (3) a uniqueness / superiority of market status and business models. J-STAR focuses on companies with enterprise value from 3 billion yen to 10 billion yen. Since its inception, J-STAR has invested and provided business support in 41 transactions in industries including consumer products, consumer services, healthcare, environmental services and manufacturing. www.j-star.co.jp

About BDA
BDA Partners is a leader in cross-border investment banking involving Asia. BDA advises on M&A and capital raising. BDA has been consistently owned and managed by the same team since 1996. BDA has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe, and Asia. BDA is headquartered in New York with offices in London, Dubai, Mumbai, Ho Chi Minh City, Singapore, Hong Kong, Shanghai, Seoul, and Tokyo. BDA was named Investment Bank of the Year 2017 by both The M&A Advisor and ACG New York. BDA formed partnerships with William Blair & Company in 2011 and Development Bank of Japan in 2017. www.bdapartners.com

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc, a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors.