MBK Partners has announced plans to acquire Sharing Technology, a Japan-based platform matching consumers with providers of everyday services, for approximately ¥37 billion. The acquisition is expected to be carried out by Hitowa Holdings through a public tender offer, and Sharing Technology could be delisted from the Tokyo Stock Exchange upon completion.
MBK Partners, the largest private equity firm in Northeast Asia, plans to acquire Sharing Technology, a Japan-based platform matching consumers with providers of everyday services, for approximately ¥37 billion. Hitowa Holdings, an MBK portfolio company in Japan, will acquire all shares of Sharing Technology through a public tender offer. If the transaction is completed, Sharing Technology is expected to be delisted from the Tokyo Stock Exchange.
Sharing Technology operates a platform connecting consumers with service providers that address everyday needs, including key replacement, plumbing repairs and pest control. The company listed on the Tokyo Stock Exchange in 2017. Its largest shareholder currently is the UK-based activist fund Asset Value Investors, which held a 28% stake as of March.
MBK is seen as pursuing a bolt-on strategy aimed at maximising business value by combining Hitowa's infrastructure in housekeeping, nursing care and senior life care with Sharing Technology's matching platform. The transaction is viewed as part of a broader move, backed by MBK's financial strength, to accelerate large-scale deals in Japan and South Korea.
MBK has stepped up investment activity in both Japan and South Korea this year. In Japan, it acquired Altemira Holdings for approximately ₩1.2 trillion, strengthening its presence in the market, and also completed an exit by selling 日本ウェルビーイング to a US-based fund for approximately ₩2 trillion.