Private equity firm Riverside has acquired Naka, a Japanese developer, manufacturer and distributor of high-end crystal oscillators and crystal units.
Major clients include mobile equipment vendors, which use Naka’s devices in microwave backhaul equipment that provides interconnectivity among base stations.
Crystal oscillators are used in almost all electronic devices that require stable frequencies or precise clocks. These devices help keep track of time, provide stable clock signals for digital integrated circuits, and stabilise frequencies for radio transmitters and receivers.
Naka marks the second Japanese platform investment for Riverside and the fourth platform for Riverside Asia Fund I.
Stu Baxter, Riverside managing partner says: “Riverside feels very fortunate to find a business with a stable and long term customer base, and we will always strive to maintain the quality and competitiveness that has led to these special relationships. Building on such solid foundations, Riverside’s primary value driver has been helping businesses with such extraordinary intellectual property expand their addressable markets. This is exactly the way we plan to help Naka penetrate overseas markets and support the business as it invests in new product lines and becomes a global leader.”
Tsunaji Shinamura, chief executive of Naka, says: “Working with Riverside means a bright future for Naka. We’ve just been through a period of rapid development and expansion, and Riverside’s operating expertise and international connections and strengths will help us make Naka even more successful.”
