Bain Capital makes appointment in Tokyo

Boston-based Bain Capital has appointed technology veteran Nobuyoshi Yamanaka as an operating partner to help oversee the firm’s Japanese portfolio companies.

Yamanaka will also become the chairman of the board of Conlux, the Japanese subsidiary of West Chester, Pennsylvania and Sakado, Japan-based MEI Conlux, a producer of unattended payment systems. Working with Tokyo-based private equity investment firm Advantage Partners, Bain Capital bought MEI Conlux in June. That deal was Bain’s first Asian investment.

Nobuyoshi Yamanaka: new Bain Capital appointment

“Joining the Bain Capital organization is a great privilege that affords me the opportunity to leverage my global experience while adding value to Bain portfolio companies and help foster greater understanding of the benefits which value-oriented private equity investment can bring to improving the efficiency of Japanese companies and the health of our economy,” Yamanaka said in the statement.

Yamanaka joins Bain and Conlux from Emerson Electric Japan and GE Hitachi Lighting, where he served as president and chief executive officer, the statement said. Prior to those posts, he has led a variety of projects including business integration, operations alignment technology implementation and introduction of best practices.

MEI Conlux produces bill acceptors, coin mechanisms, cashless payment systems and vending management solutions. Its products are found in the vending, gaming, amusement and transportation industries, among others. MEI has sales offices in 12 countries and a distribution network that covers more than 100 countries worldwide, according to the company’s website. It has manufacturing facilities in Geneva, Switzerland and Queretaro, Mexico.

Founded in 1992, Advantage Partners specialises in acquisitions and buyouts in Japan. In 1997, it raised the first buyout fund in Japan, worth ¥2.95 billion. It completed its second fund in 2000, raising ¥18 billion, and its third one in 2003, worth ¥46.5 billion. The firm has approximately $1 billion in private equity funds.

Bain Capital, founded in 1984, is a global private investment firm that focuses on private equity, venture capital, public equity and leveraged debt assets, the statement said. The firm has approximately $40 billion in assets under management.

Bain and Advantage purchased MEI from Mars, the global manufacturer of confectionary, food, pet food and beverage brands in April for an undisclosed amount.