EQT, through its BPEA Private Equity Fund IX, has launched a $2.7 billion tender offer to privatize Fujitec Co., Ltd. (TSE: 6406), a major Japanese manufacturer of elevators and escalators, in what will be the largest sponsor-led take-private transaction in Japan this year and EQT’s largest acquisition in the country since opening its Tokyo office in 2006.
The Swedish private equity firm said the tender offer reflects its deepening presence and conviction in the Japanese market, as well as its strategy to invest in high-quality industrial technology platforms with strong global growth potential.
Fujitec, founded nearly 80 years ago and headquartered in Shiga, Japan, is recognized for its engineering innovation, safety standards, and service reliability across elevators, escalators, and moving walk systems.
Upon successful completion of the offer, EQT will hold an 85% ownership stake in Fujitec, while the company’s founding family will retain a 15% minority stake through a rollover arrangement.
The company currently operates in 24 countries and is the only independent full-scope elevator and escalator original equipment manufacturer (OEM) in Japan.
EQT said the transaction is designed to support Fujitec’s next phase of growth by enhancing operational efficiency, accelerating digital transformation, and expanding into high-growth markets, particularly in Japan, India, North America, and Southeast Asia.
The firm also plans to leverage its global industrial advisory network and active ownership model to strengthen Fujitec’s global competitiveness.
“Japan is home to some of the world’s most sophisticated manufacturing capabilities, and we see tremendous long-term potential in the market,” said Takanobu Hara, Partner at EQT Private Capital Asia. “We are proud to partner with Fujitec and its team to build on its legacy of innovation and quality. Together, we aim to help future-proof the business by enhancing competitiveness, driving digital transformation, and accelerating global expansion.”
Hara added that the Fujitec transaction marks EQT’s fourth Japan-related deal in the past two months, reflecting the firm’s increasing momentum in the region across both new partnerships and strategic exits.
Fujitec has long been viewed as a key player in Japan’s industrial technology sector, with strong brand equity and deep engineering roots.
The company serves a broad customer base through both its equipment sales and long-term maintenance and service contracts. Its inclusion in EQT’s portfolio is expected to complement the firm’s existing industrial and infrastructure holdings.
The tender offer is subject to customary regulatory approvals. EQT noted that with the Fujitec acquisition, BPEA Private Equity Fund IX will be approximately 5–10% invested, including all closed, signed, or publicly announced investments, net of any expected syndication.
Business News Asia
