2022/03/04

BDA advises JAFCO on sale of Isuzu Glass to Basic Capital Management

a portfolio company of

has been acquired by

2022

BDA Partners is pleased to announce that its client, JAFCO Group, has sold Isuzu Glass Ltd to Basic Capital Management.

BDA was the exclusive financial advisor to JAFCO on the transaction. Terms of the transaction were not disclosed.

Isuzu Glass celebrates 117 years in business this year, as a leader in custom glass optics. Isuzu manufactures molded glass optical components: lens arrays, aspheric lenses, optical colour filters, IR transmitting glass, and UV transmitting glass. Isuzu Glass designs and develops molding and material technologies in Japan, with additional operations in the US and Germany. Isuzu Glass’ high-quality, purpose-made functional glass products are used in projectors, lasers, medical devices, sensors, semiconductors, and energy equipment.

Shinya Kimura, Director, BDA Partners, said: “We’re proud to have helped JAFCO to complete this transaction with Basic Capital Management, who will accelerate Isuzu’s growth and help take it to the next level. This transaction shows BDA’s understanding of the fast-developing Japanese private equity market and our insight into the optical sector. We look forward to assisting more Japanese PE firms to find the best buyers for their portfolio companies.”

Deal team

About JAFCO Group Co Ltd

Since its founding in 1973, JAFCO has always worked with leading-edge entrepreneurs. The total commitments of its investment funds in Japan and overseas exceed ¥1 trillion (US$9bn). JAFCO has IPO’d more than 1,000 portfolio companies. Beyond venture investment, JAFCO carries out buyouts and supports innovative technologies and services worldwide. As the entrepreneurs’ closest partner in bringing their visions to life, JAFCO provides support in HR, marketing/sales, and back-office operations, in addition to financing. https://www.jafco.co.jp/english/

About Basic Capital Management

Basic Capital Management, founded in 2002, focuses on finding and crystallizing hidden value held inside small- to mid-cap Japanese companies. Going back-to-basics, the firm’s investment style is characterized by close partnerships, tailored advice, and a detailed analysis of underlying core value. Basic has engaged in 30+ transactions, unlocking value in Japanese companies through business successions, MBOs, carve-outs, and growth capital. https://www.basic-cm.co.jp/top/

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 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

Recent transactions