Tokyo – Wednesday, 2 December 2020 – CLSA Capital Partners, the asset management business of CLSA, is pleased to announce that Sunrise Capital II (“Sunrise II”) has divested all shares of Qit Co., Ltd. (“Qit” or “Company”) to a special purposes company managed by funds served by Advantage Partners, a leading services provider to private equity funds (“AP Funds”), today. Sunrise II, a fund of CLSA Capital Partners, invests in established, mid-cap companies with strong growth potential in Japan.
Since its investment in Qit in October 2016, Sunrise II has been instrumental in enhancing the management structure and delivering exponential growth. Sunrise II’s growth strategy included initiatives such as recruitment support, optimal allocation of resources in core business areas, restructurings to achieve management efficiency, and the completion of four follow-on acquisitions including that of a niche top-player specialising in the outsourcing of maintenance services for semiconductor manufacturing equipment.
The Qit Group has steadily grown thanks to the diligence and collaboration of Sunrise II, the Company management and its employees. Qit outsources high quality engineer dispatching and manufacturing services to various manufacturing businesses and has established a unique position within the industry.
Sunrise II is confident that Qit can expand further by partnering with AP Funds.
Sunrise II is committed to creating medium- to long-term value in its remaining portfolio companies.
Qit provides a wide range of outsourcing services involving engineer dispatching services, its key area of focus, as well as manufacturing outsourcing services and foreign trainee programmes. The Company operates through six unique subsidiaries including Resolution Co., Ltd., a company focusing on outsourcing auto mechanics; Bryza Co., Ltd., a company providing human resources solutions to auto and electronic devices companies and HamaEngineering Co., Ltd., a niche top-player specialising in the outsourcing of maintenance services for semiconductor manufacturing equipment. Since the establishment of Qit’s predecessor organisation, Outsourcing Investments, Inc. in 2005, the Company has consistently provided human resources solutions to various industries and has steadily grown.
About Sunrise Capital
Sunrise Capital, a Japan-dedicated private equity strategy of CLSA Capital Partners, capitalises on opportunities in the mid-cap buyout sector. Sunrise Capital has developed a unique “body-on” approach, which includes seconding professionals to assist portfolio companies in realising their growth potential, and supporting their overseas expansion through CLSA’s global network. Sunrise Capital has raised approximately US$1.5 billion to date and completed investments in approximately 30 companies including both standalone and follow-on investments since its establishment in 2006.
About CLSA Capital Partners
CLSA Capital Partners is the asset management business of CLSA, Asia’s leading capital markets and investment group. Established in 1995, CLSA Capital Partners manages a diversified range of strategies including private equity, real estate, credit and transportation and real assets. From eight offices across Asia-Pacific including Hong Kong, Singapore and Tokyo, the firm’s experienced investment teams aim to generate attractive returns for clients while ensuring sustained value creation for portfolio companies and investment partners. For more information, visit www.clsacapital.com. For more information about CLSA visit www.clsa.com.
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