CITIC Capital has agreed to sell its shares in Polymatech Group, a Japanese maker of polymer parts to Sekisui and Inabata. No financial terms were disclosed.
(Tokyo, 25 April 2017) CITIC Capital Partners Limited (“CITIC Capital”), the private equity arm of CITIC Capital Holdings Limited, announced today that it has agreed to sell 100% of the shares of Polymatech Group (“Polymatech” or the “Company”) held by its fund to Sekisui Chemical Co., Ltd. (“Sekisui”) and Inabata & Co. (“Inabata”). The completion is subject to
certain closing conditions including regulatory approvals.
Polymatech is a leading manufacturer of polymer parts with a specialty in polymer material compounding. Polymatech serves customers in different industries including automotive and consumer electronics. The Company has filed a petition for the commencement of civil rehabilitation proceedings at Tokyo District Court in 2012 due to drastic change in the global
mobile industry. On the same year CITIC Capital acted as a sponsor and invested in Polymatech and initiated a number of changes with the management. Together, they set new company visions, devised business strategies that built on the strengths of the Company. To strengthen the foundation and capture further growth potential, Polymatech has
implemented a series of operational improvements, including reinforcing management control and cultivating access to the global market. As a result, Polymatech’s performances in terms of sales and profitability improved significantly and the Company is on a promising path to realize further growth.
Sekisui, headquartered in Osaka Japan, is a leading chemical company. Under its high performance plastic business, automobile & transportation sector is positioned as a strategic focus and key growth driver for Sekisui. Lately by leveraging the human resources andknow-how of the electronics sector, Sekisui is able to develop into the car electronic sector.
Inabata, headquartered in Osaka, is a leading chemical trading company which has recently been expanding its automotive business.
Under the new ownership structure, the three companies will definitely benefit from tremendous synergies and enhanced value when putting together their unique brands, technologies, customer base and sales network, material procurement capabilities and other managerial resources.
Representative: Jun Yamazaki, CEO
Headquarters: Saitama, Japan
About Sekisui Chemical Co., Ltd.:
Representative: Teiji Koge, President
Headquarters: Osaka, Japan
About Inabata & Co.:
Representative: Katsutaro Inabata, President
Headquarters: Osaka, Japan
About CITIC Capital Holdings Limited
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD19.3 billion of capital from a diverse group of international institutional investors. Core businesses include Private Equity, Real Estate, Structured Investment & Finance, and Asset Management. CITIC Capital Holdings
currently employs over 250 staff members throughout its offices in Hong Kong, Shanghai, Beijing, Shenzhen, Tokyo and New York. For more information, visit: www.citiccapital.com
About CITIC Capital Partners Limited
CITIC Capital Partners Limited, the private equity arm of CITIC Capital Holdings Limited, operates in China, the US and Japan, and currently manages USD 4.5 billion of committed capital on behalf of over 60 international investors. CITIC Capital Partners’ funds invest globally and work with management teams to help companies realize their full potential.