Private equity fund (PEF) manager MBK Partners is reportedly acquiring Japan's home services matching platform Sharing Technology.
According to Nikkei on the 9th, MBK will soon launch a tender offer for all shares of Sharing Technology to acquire management control. If the tender offer goes through, Sharing Technology will be delisted from the Tokyo Stock Exchange.
The value of the equity MBK is acquiring is expected to reach about 37 billion yen (about 322.6 billion won).
Sharing Technology connects providers that offer home services, such as lock replacement or pest control, with users. The company listed on the Tokyo Stock Exchange in 2017.
The largest shareholder of Sharing Technology is the U.K. activist fund Asset Value Investors (AVI). As of March, AVI holds 28% equity in Sharing Technology.
MBK has recently been taking aggressive steps in the Japanese market. In June, it sold eldercare provider Japan Wellbeing to a U.S. private equity fund for about 2 trillion won, then acquired aluminum packaging corporation Artemis Holdings for about 1.2 trillion won.
Investment activity is also resuming in Korea. MBK recently acquired Skinidea and Life&Bio for about 300 billion won through its special situations (SS) fund. It also acquired equity in vegan cosmetics brand AXIS-Y.