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Announced

Bain Capital to acquire Nichiigakkan for $1.2bn.

Financials

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Transaction Value£931m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales0.4x
EV/EBITDA6.09x
Share Price Premium52.6%
One Off Charge-

Tags

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Public

healthcare facilitiess

Health Care Facilities

Pending

Majority

Friendly

healthcare

Japan

hospital

Private Equity

Acquisition

Privatisation

Mbo

Original Bidder Won

Synopsis

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Bain Capital, a US buyout fund, offered to acquire Nichii Gakkan, a healthcare services provider for $1.2bn. Bain Capital's deal would see the group’s shares delisted from the Tokyo Stock Exchange, with an agreement already in place to buy a 44% stake held by the surviving relatives of the group’s late founder and the family’s asset management group. On August 17, Baring Private Equity, a Hong Kong-based buyout firm, made a $1.4bn counterbid for Nichii Gakkan, beating Bain Capital's $1.2bn offer to which Nichii agreed previously. On August 18, despite a larger bid from Baring, Bain Capital has clinched its $1.2bn deal.

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