The Longreach Group has agreed to acquire two divisions of Osaka-based Arrk Corp, a design engineering and prototyping corporation, according to a Longreach statement.
Longreach will purchase 100 percent of SOL-PLUS, a plastic parts production business, and Yasuda Seisakusho, a tool design and manufacturing company, from Arrk.
Financial terms were not disclosed.
SOL-PLUS manufactures plastic parts used in products such as car electronics and consumer applications and operates a low cost manufacturing base in Thailand.
The investment “reflects a Longreach core investment focus on acquiring and adding value to high quality mature industrial technology businesses”, according to the statement.
In August, Longreach announced another corporate carve-out as it planned to acquire full ownership of Hitachi Via Mechanics from parent company Hitachi, PEI reported earlier.
Headquartered in Hong Kong, The Longreach Group also has an office in Tokyo. The firm focuses on buyouts in Japan and Greater China in the mature industrial and technology, financial services, business services and consumer related sectors. Longreach manages two funds with approximately $1.4 billion of limited partner and co-investment capital.