Tokyo – Tuesday, 8 October 2019 – CLSA Capital Partners, the alternative investments business of CLSA, is pleased to announce that Sunrise Capital II (“Sunrise II”) has divested all shares of WORLDTOOL Co., Ltd. (“WORLDTOOL” or “Company”) to ROYAL HOMECENTER CO., LTD. (“ROYAL HOMECENTER”) on 4 October, 2019. A fund of CLSA Capital Partners, Sunrise II invests in established, mid-cap companies with strong growth potential in Japan.
Since its investment in May 2015, Sunrise II has consistently provided support to WORLDTOOL, a leading Japanese automotive maintenance tools retailer, operating under the brand name “Astro Products”. In the past four years, Sunrise II assisted with a variety of value-added initiatives such as enhancing the management structure and spearheading overseas expansion, which was one of the aspirations of the founder/owner. With the collaboration of the management team and employees, the Company has steadily expanded its business and operates 189 stores located nationwide and six stores in Thailand as of today.
Sunrise II is confident that WORLDTOOL is capable of pursuing further growth by partnering with ROYAL HOMECENTER, a leading DIY store operator in Japan.
Sunrise II continues to commit in creating medium- to long-term value in its remaining portfolio companies.
– end –
WORLDTOOL, headquartered in Fukaya in Saitama prefecture, operates 189 retail stores nationwide as well as six stores in Thailand under the store name “Astro Products”, as well as manages a wholesale business. Astro Products stores sell self-branded automotive maintenance tools as well as a wide variety of national brand products including general industrial tools, LED lights, solar panels, electric generators etc.
For further information on WORLDTOOL, please visit https://www.astro-p.co.jp/
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’s unique features include an extensive “body-on” approach, which includes seconding professionals to assist portfolio companies in realising their growth potential, and support with overseas expansion through CLSA’s global network. Sunrise Capital has raised approximately US$1 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 alternative investments 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.