MBK Partners exits Japan’s Accordia Next Golf in $3.5 bil deal Deal would be third largest in Japanese M&A market this year
Translated by Ryu Ho-joung 공개 2021-11-18 08:03:21
이 기사는 2021년 11월 18일 08:01 thebell 에 표출된 기사입니다.
North Asia-focused private equity firm MBK Partners has exited its investment in Japan’s Accordia Next Golf in a landmark deal worth about 400 billion yen ($3.5 billion).MBK Partners has signed an agreement to sell Accordia Next Golf to SoftBank’s Fortress Investment Group, industry source said.
The deal marks the second largest exit ever by the private equity firm after the sale of its stake in Universal Studios Japan in 2017, providing a money multiple return of almost three times.
Under MBK Partners’ ownership, Accordia Next Golf has grown into Japan’s biggest golf course chain through add-on acquisitions – a play Michael ByungJu Kim, MBK Partners’ co-founder and partner, has emphasized to enhance the value of portfolio companies.
The private equity firm acquired Accordia Golf in January 2017 and two years later bought Next Golf Management, formerly Orix Golf Management, in February 2019. It also took over Accordia Golf Trust, which had been listed in Singapore, through a tender offer in October 2020.
The sale of Accordia Next Golf would be the third largest deal in the Japanese mergers and acquisitions market this year, after Hitachi’s $9.6 billion acquisition of US software developer GlobalLogic and Panasonic’s $7.1 billion purchase of US supply-chain software company Blue Yonder.
Accordia Next Golf owns or operates more than 170 golf courses in Japan, with the largest market share of 12%.
New York-based Fortress Investment Group, which was acquired by SoftBank for $3.3 billion in 2017, manages $53.9 billion of assets under management as of June 30, 2021. Founded in 1998, the firm focuses on alternative investments including private equity, private debt and real estate. It had joined the bidding war for British supermarket chain Morrisons earlier this year. (Reporting by Hee-yeon Han)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- (벤처2)"35년 영업맨, 상장 후 글로벌 시장 노린다"
- [아시아나 화물사업부 M&A]LOC 낸 에어인천·이스타, LOI 낸 에어프레미아
- SK하이닉스의 20조 투자 자신감 '엔비디아 선급금'
- 유가 오르면 정유사 버는 돈 많아질까, 이익구조 뜯어보니
- 캡티브 잡자…퇴직연금 사업자-계열사간 인력 교류
- [스튜어드십코드 모니터]한화운용, '이사 선임·자사주 취득' 주주제안 일부 반대
- [제일약품의 온코닉테라퓨틱스 첫 '신약']제약사 스핀오프 모범선례 '독립성·전문성'에 전권줬다
- [thebell desk]'부동산 PF' 누가 떠안을 것인가
- [VC 경영분석]'펀딩부터 차곡차곡' 리인베스트, BEP 달성 '가시권'
- [thebell interview]"그레이드헬스체인, 인슈어테크 넘어 데이터 회사로"