MBK to buy Japanese nursing home and care service for $300 mn

MBK Partners, the largest private equity firm in Northeast Asia, is set to acquire Japanese senior nursing care service company Unimat Retirement Community Co. for $300 million as it aims to expand the business in one of the world’s fastest-aging countries.

MBK signed a deal to buy a 100% stake in Unimat from its shareholders with an aim to complete the takeover in April, the Seoul-based PE firm said on Friday.

Founded in 1974 Unimat engages in nursing care for the elderly and retirement community businesses. The company operates nursing care complexes, which provide care services for up to 30 days per stay, and facilities for dementia patients. It also provides home-based services.

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The company, which was delisted in June 2021, logged sales of 58.6 billion yen ($455.6 million) in the year.

MBK is expected to actively invest more in the Japanese nursing care industry as the sector has great growth potential, given the country’s fast-aging population.

The PE firm already bought Tsukui Corp., a major Japanese company for daytime elderly care services.

MBK’s takeover of Unimat is expected to create synergy as the company and Tsukui are likely to combine their expertise to improve operating efficiency.

Write to Chae-Yeon Kim at why29@hankyung.com
Jongwoo Cheon edited this article.