Sunrise Capital III signs agreement to acquire Marubeni Mates Ltd.

Tokyo – Friday, 2 February, 2018 – CLSA Capital Partners, the asset management business of CLSA, is pleased to announce that Sunrise Capital III (“Sunrise III”) has signed an agreement to acquire Marubeni Mates Ltd. (“Marubeni Mates” or the “Company”), a 100% subsidiary of Marubeni Corporation and a leading uniform rental business, through a newly structured entity.  Sunrise III is a CLSA Capital Partners fund that invests in established, mid-cap companies with strong growth potential in Japan.

Since its establishment in Tokyo, Marubeni Mates has pioneered and led Japan’s domestic uniform rental market from 1999, becoming one of the dominant uniform rental and maintenance companies in the country.  The Company offers comprehensive services including upstream to downstream uniform rental and sales and cleaning of uniforms, for a variety of businesses in the retail, restaurant, medical and elderly care sectors.  Capitalizing on its IT-driven uniform maintenance and order system, and unique ability to procure various types of uniform fabrics and products, Marubeni Mates has established a highly competitive market positioning.

Following the transaction, Marubeni Mates will maintain its existing operational policies and organizational framework. Going forward, Sunrise III will provide support to maximize the Company’s potential in pursuing growth as a standalone entity, leveraging CLSA’s considerable experience, extensive network and management resources.

Sunrise III and its predecessor funds (Sunrise I and Sunrise II) have established partnerships with businesses in the apparel and business process outsourcing (BPO) sectors, which Marubeni Mates is engaged in, and are highly regarded for their ability to realize significant growth.

Mr. Haruhiko Kishi, President of Marubeni Mates, commented: “Marubeni Mates has consistently focused on providing satisfaction and high value to its customers through accurately identifying and meeting their needs mainly in its core uniform rental business.  Going forward, we will continue to focus on this and will leverage CLSA’s extensive knowledge and experience in the apparel and BPO sectors.”

Mr. Megumi Kiyozuka, Head of Sunrise Capital, commented: “Sunrise III regards business process outsourcing (BPO) as an attractive sector and has followed the sector’s growth closely. In an effort to optimize operational efficiency, several domestic companies have proactively started to rely on outsourcing. With respect to Marubeni Mates, the Company has demonstrated strong growth as a full suite service provider of uniforms. In addition to Marubeni Mates’ stable profitability, we find the Company’s outstanding service quality and ability to fulfill client needs highly attractive and believe the Company can exhibit strong growth. We will continue to optimize the Company’s strengths developed under the Marubeni group, and are excited to partner with Marubeni Mates to further accelerate growth beyond its current growth trajectory.”

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About Marubeni Mates

Marubeni Mates provides various uniform-related services including, rentals, cleaning, maintenance, storage, delivery and inventory management as well as the planning, manufacturing and distribution of uniforms. In addition to office-use uniforms, Marubeni Mates handles a variety of uniforms such as waitstaff uniforms and kitchen apparel for restaurants, service industry uniforms such as cashier and grocery uniforms for supermarkets and industrial uniforms.  Marubeni Mates is a top-class “comprehensive uniform solution company”, capable of selecting and proposing textures depending on various client needs, designing, sewing and handling various other uniform-related operations. For more information visit http://www.mc-mates.co.jp/

About Sunrise Capital

Sunrise Capital is a Japan-dedicated private equity strategy, capitalizing on opportunities in the mid-cap buyout sector. Sunrise Capital’s unique features include a hands-on approach, in assisting portfolio companies realize their growth potential, and support with overseas expansion through CLSA’s global network. Sunrise Capital has completed investments in 11 companies since its establishment in 2006.

About CLSA Capital Partners

CLSA Capital Partners is the asset management arm of CLSA, Asia’s leading capital markets and investment group. CLSA Capital Partners has more than US$4 billion under management and offices across the region, including Hong Kong, Singapore and Tokyo. CLSA Capital Partners offers a diversified and increasing range of investment strategies managed by a diverse team of industry professionals with expertise in private equity, banking and finance, law and accountancy and various industry specializations. For more information visit www.clsacapital.com.  For more information about CLSA visit www.clsa.com.

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