Fujitec to be Privatized in USD 2.7 Billion EQT Deal

EQT, through its BPEA Private Equity Fund IX, has declared a USD 2.7 billion tender offer to privatize Fujitec Co., Ltd, a renowned Japanese elevator and escalator manufacturer. This acquisition represents the largest sponsor-led take-private deal in Japan for the year and marks EQT's most substantial buyout in Japan since its Tokyo office commenced operations in 2006. Post-acquisition, EQT will hold an 85% stake while the founding family retains a 15% minority share. Fujitec, based in Shiga, Japan, and operational in 24 markets worldwide, is recognized for its engineering expertise and dedication to quality and safety. EQT plans to drive Fujitec's growth through strategic enhancements, digitalization, and market expansion, specifically targeting regions like Japan, India, North America, and Southeast Asia. This strategic move underscores EQT's commitment to leveraging its industrial advisor network and active ownership model to boost Fujitec’s global competitiveness. Takanobu Hara from EQT emphasized the promising long-term prospects in Japan's sophisticated manufacturing sector and EQT's recent momentum in the region. The transaction is expected to make BPEA Private Equity Fund IX 5-10% invested based on its target fund size, pending regulatory approvals.