Bain Capital-Led Consortium Announces Successful Close of Tender Offer for Hitachi Metals’ Common Shares

TOKYO and BOSTON, October 26, 2022 - Bain Capital announced today that the consortium led by affiliates of Bain Capital Private Equity, LP (“Bain Capital”)  successfully closed its tender offer for the common shares of Hitachi Metals, Ltd. (“Hitachi Metals”). The consortium, which also includes Japan Industrial Partners (JIP) and Japan Industrial Solutions (JIS) will provide capital, management support, and industrial and technology expertise to support Hitachi Metals’ accelerated growth trajectory.

 

Hitachi Metals is a global leader in the production and sale of high-quality specialty steel, functional components, magnetic materials, power electronics and wires and cables.  Bain Capital and its consortium partners are committed to supporting market leadership strategy, “Leading sustainability by high performance ”, and to capturing new growth opportunities in areas such as electric vehicles.

 

David Gross-Loh, Managing Director and founding member of Bain Capital’s Asia business, noted, “Hitachi Metals has decades of R&D leadership, deep global relationships with industry-leading customers, and technological superiority in each of its businesses. We are pleased to leverage our experience in the global and Japan industrials and technology sectors to support Hitachi Metals, a leading Japanese company. 

 

According to Thomson for Asia PE deals, this transaction is the second largest private equity investment in Japan following Kioxia - previously known as Toshiba Memory Corp. and the third largest in Asia. It also aligns with Bain Capital’s strategy of partnering with management to complete global carve-outs with high potential for transformation.

 

Yuji Sugimoto, Managing Director of Bain Capital in Japan, added, “We look forward to working with the Hitachi Metals management team to continue the growth of a revered company in Japan and further strengthen its business. This is a great outcome for all stakeholders. We are honored to support Hitachi Metals' continued success in sustaining Japanese industry.”

 

Bain Capital has built deep roots in Japan since opening its Tokyo office in 2006 and employs over 50 professionals with strong sector-specific and strategic and operating expertise to help implement growth and value-enhancement initiatives. Bain Capital has invested in and grown a wide range of advanced industrials and technology companies, including Coherent (fka II-VI), Kioxia, NXP Semiconductors, Japan Wind Development, and Showa Aircraft Industry.

 

Hitachi Metals has reported revenues of 942.7 billion yen (FY2021) and 27,700 employees as of March 2022.

 

 

About Bain Capital Private Equity

Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity's global team of more than 250 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media, and telecommunications. Bain Capital has 23 offices on four continents. The firm has made primary or add-on investments in more than 1,100 companies since its inception. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital, and real estate, managing approximately $160 billion in total assets and leveraging the firm's shared platform to capture opportunities in strategic areas of focus.

 

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