BDA Advises CUC Inc. on Acquisition of Beyond Podiatry

Jan 30, 2024 | Business

 BDA Partners is pleased to announce that its client, CUC Inc, a subsidiary of M3 Inc, has agreed to acquire 79.25% of Albaron Podiatry Holdings LLC. Albaron operates a leading podiatry service platform under the name Beyond Podiatry.

Beyond Podiatry is a leading podiatry practice group in the Midwestern USA, dedicated to providing practitioners with advanced support, enabling podiatrists to concentrate on patient care and delivering a unique, focused, customized experience for patients.

Since its establishment in 2018, Beyond Podiatry has steadily expanded its footprint in podiatry practices through M&A and launching new clinics. It recently initiated a related clinical practice specializing in the treatment of varicose veins.

CUC Inc was established in Japan in 2014 to provide operational support and consulting services to home healthcare institutions as a subsidiary of M3 Inc, a leading Japanese provider of internet medical services, primarily for physicians and other healthcare professionals. CUC started its international expansion mainly into SE Asia in 2019, with the mission “Creating Hope through Healthcare.” CUC now operates and supports hospitals, home hospices, pediatric and dialysis clinics at over 100 locations in Japan, Indonesia, and Vietnam.

CUC’s objective is to support and strengthen the operational capacities of Beyond Podiatry as a premier practice management platform, using CUC’s know-how from management support for medical institutions in Japan. Following this transaction, Beyond Podiatry will maintain its operations under the direction of its current management team and several directors dispatched from CUC.

BDA Partners acted as the exclusive financial advisor to CUC Inc.
Jeff Acton, Partner, BDA, said, “We’re excited to advise CUC on this transaction and help the company expand, in business scope and into the US market. We believe this transaction is a great example of growing cross-border opportunities in the HealthTech and Healthcare sectors. Assisting Japanese companies in outbound M&A represents an important line of business for BDA.”

Alex Ditchfield, Managing Director, BDA, said “We’re happy to have helped create this transaction; we believe CUC is the ideal partner for Beyond Podiatry. CUC and Beyond Podiatry both bring deep industry experience, and exceptional management teams. Beyond Podiatry will continue on its bright growth path, delivering exceptional patient treatment and care.”

Andrew Huntley, Managing Partner and Head of Global Healthcare, BDA, said, “This deal for CUC in podiatry continues an active recent flow of successful transactions for BDA’s clients in the specialty clinics space, which also includes the dental, pediatric, orthopedic, OBGYN, and oncology specialties.”

Deal team
Jeff Acton, Partner, Co-Head of Tokyo, Head of Technology Tokyo
Alexander Ditchfield, Managing Director, New York
Stephen Etna, Vice President, New York
Olivia Feng, Associate, New York
Dai Yamabe, Associate, Tokyo
Colton Bucey, Analyst, New York

About CUC Inc
CUC Inc is a Japanese company, providing operational support and consulting to home healthcare institutions in a wide range of healthcare businesses. CUC Inc operates and supports hospitals, home hospices, pediatric and dialysis clinics at over 100 locations in Japan, Indonesia, and Vietnam. www.cuc-jpn.com/en/

About Beyond Podiatry
Beyond Podiatry is a leading network of more than 30 podiatry and vein clinics across Michigan, Illinois, Ohio, Kentucky, and Indiana, under various brands. The company provides patients with the most advanced and comprehensive foot and ankle treatment options, including foot and ankle trauma, diabetic wounds, fractures, infections, sports injuries, plantar fasciitis, bunions, arthritis. The company treats over 125,000 patients per year. www.beyond-podiatry.com

About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul, and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services, Sustainability and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.

BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese Government-owned bank with US$150bn of assets. www.bdapartners.com

BDA Partners
Euan Rellie
212-265-5300
www.bdapartners.com

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  • Mergers & Acquisitions
  • Orthopedics & Rehabilitation

BDA Advises Advantage Partners on Sale of Wavedash to Vivid Seats

Aug 9, 2023 | Business

 BDA Partners is pleased to announce that the funds advised by its client, Advantage Partners, have agreed to sell WD Holdings Co Ltd, the holding company of Wavedash Co Ltd (“Wavedash”) to Vivid Seats Inc (NASDAQ: SEAT). The transaction is expected to close in Q3 2023, subject to regulatory requirements and other customary closing conditions.

Wavedash, headquartered in Tokyo, operates Japan’s longest serving and largest secondary ticketing marketplace for live events.

Vivid Seats, headquartered in Chicago, is a leading marketplace that uses its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year.

Stan Chia, CEO, Vivid Seats, said: “Wavedash presents a strategically exciting and financially accretive opportunity for Vivid Seats. Wavedash is the market leader in the Japanese secondary ticketing market, with a large and growing customer network supported by robust technology and compliance capabilities. We are excited to grow our TAM by expanding internationally with a market leading business.”

Jeff Acton, Partner, Head of Technology and Co-Head of BDA Tokyo, commented: “We are very pleased to have helped Wavedash find a new partner in Vivid Seats, and match the two leading marketplaces for secondary tickets in Japan and the US. There has been increasing global interest to acquire Japanese companies in the Tech sector and we expect the trend to continue. The deal demonstrates BDA’s capabilities to successfully deliver cross-border M&A solutions to private equity funds in Japan.”

BDA acted as exclusive financial advisor and TMI Associates acted as legal counsel to Advantage Partners. Simmons & Simmons and Nishimura & Asahi acted as legal counsel to Vivid Seats.

The BDA Deal team includes:
– Jeff Acton, Partner, Co-Head of Tokyo, Head of Technology, Tokyo
– Brian Lee, Director, Tokyo
– Hikaru Murase, Vice President, Tokyo
– Mai Truong, Associate, Tokyo
– Junya Aizawa, Analyst, Tokyo

About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul, and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.

BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese Government-owned bank with US$150bn of assets. www.bdapartners.com

About Advantage Partners
Advantage Partners is a private equity firm based in Tokyo that specialises in buyouts, carve-outs, turnarounds, privatisations, minority investments amongst other types of investment transactions. The fund established in 1997 and serviced by Advantage Partners is considered Japan’s first private equity fund and Advantage Partners has since advised funds that have invested over JPY 500bn across over 100 investments. The company also has offices in China, Hong Kong and Singapore to cover the Asian region, along with a dedicated renewables and sustainability special purpose acquisition company listed on the New York stock exchange (NYSE: APCA).

About Vivid Seats Inc.
Vivid Seats Inc. operates as an online secondary marketplace for tickets in the United States and Canada. The company operates in two segments, Marketplace and Resale. The Marketplace segment acts as an intermediary between event ticket buyers and sellers; processes ticket sales on its website and mobile applications through its distribution partners; and sells tickets for sports, concerts, and theater shows, and other live events. The Resale segment acquires tickets to resell on secondary ticket marketplaces; and provides internal research and development support for Skybox and to deliver seller software and tools. The company was founded in 2001 and is headquartered in Chicago, Illinois.

BDA Partners
Euan Rellie
212-265-5300
www.bdapartners.com

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  • Arts & Entertainment
  • Banking & Financial Services
  • Business
  • Events & Concerts
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  • Internet Technology
  • Investment
  • Mergers & Acquisitions
  • Venture Capital

BDA Advises Sherwin-Williams on Sale of China Architecture Paint Business to AkzoNobel

Aug 2, 2023 | Business

 BDA Partners is pleased to announce that its client, The Sherwin-Williams Company (NYSE: SHW), has completed the divestment of its China architecture paint business, under the brand name Huarun in China, to global coatings company Akzo Nobel NV (ENXTAM:AKZA).

The business is one of the leading decorative paints originally from Shunde, Guangdong province, known as the “hometown of paints” in China. Founded in 1990, Huarun is a legacy brand, deeply rooted in the Chinese paints industry, across retail and project channels nationwide. The business was acquired by The Valspar Corporation in 2006 and became part of Sherwin-Williams when it acquired Valspar in 2017.

BDA acted as exclusive financial advisor to Sherwin-Williams on the transaction.
Jeffrey Wang, Partner, Co-Head of BDA Shanghai, said: “We’re pleased to deliver a strong outcome for Sherwin Williams, a repeat BDA client, to help optimize its business portfolio across the world. We look forward to the continued success of the Huarun business under its new ownership. This transaction demonstrates BDA’s leading role as an advisor on multinational corporate carve-outs in China and the rest of Asia.”

About Sherwin-Williams
The Sherwin-Williams Company (NYSE: SHW) is the global leader in the coating industry with 61,000+ employees and business in 120+ countries. Founded in 1866, and headquartered in Cleveland, Ohio, Sherwin-Williams engages in the manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers.

About Akzo Nobel NV
Akzo Nobel NV (ENXTAM:AKZA) is one of the largest paint manufacturer in the world. Founded in 1646 and headquartered in Amsterdam, the Netherlands, Akzo Nobel engages in the production and sale of paints and coatings worldwide. It offers its products primarily under AkzoNobel, Dulux, Levis, etc

About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes. BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorized and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com

BDA Partners
Euan Rellie
212-265-5300
www.bdapartners.com

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  • Banking & Financial Services
  • Business
  • Mergers & Acquisitions

BDA Partners Advises Coats Group on the Sale of Its European Zipper Division

Jul 6, 2023 | Business

 BDA Partners is pleased to announce that its client, Coats Group plc (“Coats”), the world’s leading industrial thread and global footwear component manufacturer, has entered into an agreement to sell its European Zips business to Aequita. The transaction is expected to complete in Q3 2023, following carve out activities. The European Zips business is a world leading zipper manufacturer, with production facilities located in Italy, Germany, Estonia and Turkey. It focuses on high quality, custom and niche zippers, including luxury, automotive and technical applications. The business has a leading position within the sustainable zipper segment.

An exit from European Zips is in line with Coats’ strategic initiatives which were announced in March 2022. The strategy optimises the Company’s portfolio and footprint, and improves the overall cost base efficiency.

BDA acted as exclusive financial advisor to Coats on the transaction.
Sonal Arora, Managing Director of Group Strategy at Coats, said: “We are pleased to announce the divestment of the Zips business, which is in line with Coats’ strategy to simplify the portfolio and increase focus on core operations. We wish the business and its new owners every success in the future. BDA’s cross border expertise was instrumental in delivering an effective outcome.”

Jonathan Aiken, Partner, Head BDA London, added: “This transaction reaffirms BDA’s continued expertise in executing cross-border carve-outs. We are pleased to have supported Coats on this non-core divestment and wish the management and employees well under new ownership.”

BDA Deal team:
Jonathan Aiken, Partner, Head of London
Ruari Sinclair, Director, London
Nils Weng, Associate, London
Diane Zarka, Analyst, London

About the European Zips business
The business is a leading manufacturer of zippers for custom and niche solutions, including luxury, automotive and technical applications. With four facilities spanning Europe, the company provides industry-leading quality and sustainable zippers to blue-chip customers.

About Coats Group PLC
Coats is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials. These critical solutions are used to create a wide range of products, including ones that provide safety and protection for people, data, and the environment. Headquartered in the UK, Coats is a FTSE250 company and a FTSE4Good Index constituent. Revenues in 2022 were $1.6bn.

Trusted by the world’s leading companies to deliver vital, innovative, and sustainable solutions, Coats provides value-adding products, including apparel, accessory and footwear threads, structural components for footwear and accessories, fabrics, yarns, and software applications. Customer partners include companies from the apparel, footwear, automotive, telecoms, personal protection, and outdoor goods industries.

With a proud heritage dating back more than 250 years and a spirit of evolution to constantly stay ahead of changing market needs, Coats has operations across some 50 countries with a workforce of over 17,000, serving its customers worldwide. Coats connects talent, textiles, and technology to make a better and more sustainable world. Worldwide, there are three dedicated Coats Innovation Hubs, where experts collaborate with partners to create the materials and products of tomorrow. It participates in the UN Global Compact and is committed to science-based sustainability targets for 2030 and beyond, with a goal of achieving net-zero by 2050. Coats is also committed to achieving its goals in Diversity, Equity & Inclusion, workplace health & safety, employee & community wellbeing, and supplier social performance.

To find out more about Coats, visit www.coats.com.

About Aequita
Aequita is a Munich-based family office investing in special situations including corporate carve-outs, successions, and transformational situations across Europe. Its current portfolio spreads across the automotive, industrial goods and construction industries with EUR 1.5 billion in revenues. With a strong capital base, entrepreneurial expertise and a partnership approach, the team focuses on the acquisition and long-term value enhancement of companies that can benefit from an operational engagement.

About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes. BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorized and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors.

www.bdapartners.com

BDA Partners
Euan Rellie
212-265-5300
www.bdapartners.com

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  • Mergers & Acquisitions

BDA Advises Lavazza on Sale of India Business and Partnership with Everstone-Backed Culinary Brands

Dec 22, 2022 | Business

 BDA Partners is pleased to announce that its client, Lavazza Group, has decided to partner with Everstone to fuel its growth in the India market. Lavazza has also granted Fresh and Honest an exclusive license for the premium Lavazza coffee brand in India.

BDA Partners acted as exclusive financial advisor to Lavazza Group on the transaction.

Lavazza Group has operated in India through Fresh and Honest Café Limited (“F&H”), which owns the Fresh and Honest coffee brand, and holds exclusive rights for the premium Lavazza brand.

Lavazza is the symbol of Italian coffee around the world, a global icon representing the authentic Italian experience.

Antonio Baravalle, CEO of Lavazza Group, said “Lavazza Group has been operating in India for the last 15 years. We believe that such a credible and solid local partner as Everstone Group will ensure the achievement of the full potential, and that the Lavazza brand will have an even stronger growth and positioning in the future, as India grows its consumption of coffee.”

Kumar Mahtani, Head of Consumer India, BDA, added: “We’re proud to have advised Lavazza Group on this exciting partnership for India with a highly credible partner, Everstone Group. F&H, with its affordable Fresh and Honest brand, and the rights for the premium Lavazza brand for India, represents a well-positioned blend of affordable and premium coffees in India. This transaction demonstrates BDA’s ability, yet again, to find the right partners for our global Consumer & Retail clients.”

BDA deal team
Kumar Mahtani, Head of Consumer, Mumbai
Sanjay Singh, Head of Mumbai
Rohit Kumar, VP, Mumbai
Swati Narayan
Simran Kejriwal

About Lavazza Group
Luigi Lavazza S.p.A. is an Italian manufacturer of coffee products. Founded in Turin in 1895 by the tenacious and intuitive Luigi Lavazza, it was initially run from a small grocery store at Via San Tommaso 10. Lavazza is a family-run company, which carefully sources the highest quality beans from sustainable farms. It offers an entire line of coffee, espresso coffee machines, and accessories. Luigi Lavazza acquired his small store in the heart of old Torino and discovered a flair for coffee. Over generations, he and his family mastered the art and science of coffee. Today, run by the fourth generation, Lavazza is the symbol of Italian coffee worldwide, a global icon representing the authentic Italian experience.

www.lavazza.com

About Everstone
Singapore-headquartered Everstone Capital is the private equity arm of the Everstone Group, a private Investment firm with assets of over US$8bn under management across private equity, logistics and digital, climate impact and venture. Everstone is also the exclusive master franchisee for Burger King India, Burger King Indonesia, Popeyes Indonesia and Dominos Indonesia. Everstone is a global firm committed to driving economic growth and creating sustainable value. With seven offices globally (Singapore, Mumbai, Delhi, Bengaluru, New York, Dubai and Mauritius), Everstone Capital focuses on the mid-market with a control mindset and growth bias; comprising best of breed investing, operations and strategic resources with significant experience and skills.

www.everstongroup.com
www.everstonecapital.com

About Culinary Brands
Culinary Brands, part of the Everstone Group, is a food and beverage (F&B) platform, built to transform and scale mass and mass-premium global brands in India and the sub-continent. It owns the exclusive master franchise rights for Subway (the largest QSR brand globally) in India, Bangladesh, Sri Lanka, and other countries.

About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul, and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.

BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese Government-owned bank with US$150bn of assets.

bdapartners.com

BDA Partners
Euan Rellie
212-265-5300
www.bdapartners.com

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