In February 2006, CVC Asia Pacific Funds acquired all non-European businesses from the Minit Group, the global operator of the Mister Minit brand. Mister Minit stores provide high-end shoe repair, key cutting, engraving and watch repair services.
The newly formed Minit Asia Pacific group has a store network of over 600 owned and franchised stores throughout Japan, Australia, New Zealand, Canada, Singapore and Malaysia, all reporting to the headquarters based in Japan.
CVC acquired an established business with a long operating history and experienced management in place; the largest Japan business started in 1975. We also identified significant upsides available in terms of unclaimed market expansion opportunities, both within and outside Minit Asia Pacific’s existing territories. By also acquiring all the trademarks, Minit Asia Pacific eliminated the requirement to pay license fees, freeing up additional cash-flow to reinvest in the business.