Jamco Corporation, a Japan-based manufacturer of commercial aircraft interior cabin equipment, has announced that it is “in support” of the planned commencement of a tender offer (TOB) for all outstanding shares in the company by Bain Capital, a global private investment firm.
Bain Capital, which currently has US$185 billion in assets under management, has requested regulatory approval to make the offer. If approval is received, Bain expects the tender offer process will commence in February and conclude 20 business days after the start date, which subsequently would result in Jamco Corporation’s shares being de-listed from the Tokyo Stock Exchange in mid-2025.
The tender offer price is JPY1,800 (US$11.54) per common share, with an estimated 14,916,980 shares due to be purchased by Bain.
Koichi Tsunematsu, representative director, president and CEO of Jamco Corporation, said of the proposed offer: “We are very excited about this strategic alliance with Bain Capital, a world-class private investment firm with a 20-year track-record of success in Japan. With the strong support from Bain Capital, we will work to strengthen our financial and human resources, investing in growth areas, and accelerating management reforms. As a result, we aim to accelerate structural reforms, increase our corporate value, and enhance our business foundation to lay the groundwork for future growth.”
Yuji Sugimoto, partner and head of Bain Capital Private Equity Asia, added, “We look forward very much to our partnership with Jamco Corporation, an innovative supplier to the global aerospace industry for over 70 years. We will support management in strengthening the company’s foundation and accelerating business reforms, and by leveraging Bain Capital’s deep operational expertise and broad global resources, we will together strive to help the company unleash its full potential.”
