MBK Partners to acquire Japan's Sharing Technology for $240 million

Key facts

• MBK Partners will acquire Japanese online lifestyle services platform Sharing Technology.
• The acquisition is valued at approximately ¥37 billion ($240.8 million).
• Hitowa Holdings, an MBK portfolio company, will launch a tender offer for Sharing Technology's shares.
• Sharing Technology will be delisted from the Tokyo Stock Exchange.
• MBK aims to create synergies by combining Hitowa's senior care services with Sharing Technology's matching platform.

MBK Partners, Northeast Asia's largest private equity firm, is set to acquire Japanese online lifestyle services platform Sharing Technology for approximately ¥37 billion ($240.8 million). The deal will be executed through a tender offer by Hitowa Holdings, an existing MBK portfolio company focused on senior and elder care services.

Upon completion, Sharing Technology will be delisted from the Tokyo Stock Exchange. MBK's strategy involves integrating Hitowa's senior care infrastructure with Sharing Technology's platform, which connects consumers with service providers for everyday needs like repairs and pest control, aiming to maximize business synergies and enhance corporate value.

This acquisition is part of MBK's accelerated investment drive in Japan and South Korea. The firm recently acquired Altemira Holdings in Japan and several wellness companies in South Korea. Sharing Technology's largest shareholder is the UK-based activist fund Asset Value Investors (AVI), which holds a 28% stake.