CVC Capital Partners announced today that funds advised by CVC Capital Partners have purchased a majority stake in Hasegawa Holdings Co., Ltd., a fast growing service provider of senior home, nursery school and cleaning services. As result of the transaction, CVC and the company's founder, Yoshihiro Hasegawa, will become joint shareholders of the company.
Hasegawa Holdings provides Japanese families with a full suite of services to support their changing needs. The company currently operates 105 senior homes and 68 nursery schools, primarily in the Greater Tokyo area, that provide both caring and accommodation services for the elderly and children. Hasegawa Holdings also provides professional cleaning services to both B2B and B2C customers through its nationwide network of approximately 1,700 franchisees.
"We are excited to welcome CVC as our new partner. This agreement will enable us to accelerate our growth and to continue to meet the growing demand of the changing Japanese demographic," said Yoshihiro Hasegawa, founder and CEO of Hasegawa Holdings.
Atsushi Akaike, partner and head of CVC's Tokyo office, said, "Japan's caregiving industry has grown dramatically in the past decade as a result of the country's ageing population who are supported by a new generation of double income families. We believe Hasegawa Holdings, a leader in the provision of care, is uniquely positioned to capture this trend and deliver continued?growth. We look forward to working with Mr. Hasegawa and the management team to support the business as they execute the next phase of their development."