4 December 2023

BDA advises Sansei Technologies on acquisition of FORREC

acquired 70% of


BDA Partners is pleased to announce that its client, Sansei Technologies (“Sansei”), has agreed to acquire 70% of Laird Holdings, the holding company of FORREC, a global leader in experience design.

FORREC is headquartered in Toronto, Canada. FORREC is one of the world’s leading entertainment design companies, and has created some of the world’s most successful leisure and entertainment destinations. FORREC’s extensive experience in strategy, planning, and design, allows it to create compelling guest experiences rooted in imagination and immersive storytelling, for location-based entertainment. FORREC has experience working with brands all over the world, and has built projects in over 60 countries.

Cale Heit, FORREC CEO, said: “Sansei and FORREC’s shared focus on our employees, relationships and industry partners has been key to our success. As partners, our shared priorities are a commitment to collaborate and create new opportunities and experiences for our clients, their guests, and our talent. FORREC has earned the trust of our clients, and now they are looking to us to do more. This presents an amazing opportunity to grow and create some of the world’s most successful leisure and experience destinations.”

Noboru Rachi, President & CEO of Sansei, said: “FORREC’s people and their outstanding storytelling and design capability, and our expertise in amusement rides, complement each other. This allows us to provide more solutions for our clients’ evolving needs, and to create unforgettable guest experiences.”

Jeff Acton, Partner and Co-Head of BDA Tokyo, said: “BDA is proud to have advised Sansei on this important strategic acquisition, to expand and provide a broader range of solutions to theme parks and entertainment destinations. This is our third transaction with Sansei, having previously advised Sansei on the acquisition of Vekoma Rides, and on the sale of S&S Worldwide to Sansei. We’re confident that FORREC’s business will thrive as part of Sansei. This demonstrates BDA’s ability to deliver strategic cross-border transactions for Japanese clients.”

BDA was exclusive financial advisor, and Simmon & Simmons and McMillan were the legal advisors, to Sansei on the transaction.

About Sansei

The Sansei Technologies group of companies is an industry leader with well-respected brands TELMIC, S&S Worldwide and Vekoma Rides providing leading edge design, engineering, fabrication and installation of roller coasters and attractions, performance theatre equipment, TV studios and other designed equipment globally. Sansei Technologies was founded in 1951 and is headquartered in Osaka, Japan. www.sansei-technologies.com


FORREC is an experience design company that has created some of the world’s most successful leisure destinations. Our talented employees go above and beyond with inspiring creativity, ingenious know-how, and transformative guest experience. FORREC’s extensive experience in strategy, planning, and design allows us to create compelling guest experiences rooted in imagination and immersive storytelling for location-based entertainment, including theme parks, attractions, water parks, mixed-used + entertainment, landscape architecture + urban design, and resorts. FORREC has experience working with brands all over the world and has built projects in over 60 countries. FORREC is headquartered in Toronto, Canada with offices in China and the US. www.forrrec.com

About BDA Partners

BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services, Sustainability and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.

BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.

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 authorized 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. www.bdapartners.com