KKR $4.5 billion acquisition of Calsonic Kansei

Overview:

• Private equity firm Kohlberg Kravis Roberts & Co (KKR) has acquired Japanese auto parts maker Calsonic Kansei from Nissan Motor for $4.5 billion.
• The transaction was a rare multibillion-dollar inbound private equity deal where KKR bought a 41% stake in Calsonic Kansei from Nissan Motor and then the remainder from the public market through a tender offer.
• The deal is KKR's largest ever deal in Japan where high-value private equity deals are unusual because of the country's different corporate culture that can make acquisitions less appealing to foreign companies.
• Calsonic Kanse—based in Saitama in eastern Japan—has over 60 manufacturing and distribution sites globally and makes traditional car components including interiors, electronics, air conditioning units and exhaust systems.

Adam Majeed - Regional editor