Global private equity firm The Carlyle Group has agreed to acquire 100 per cent of the outstanding shares of Broadleaf, one of the largest auto after-market software providers to the repair and inspection industry in Japan.
Broadleaf is currently owned by Olympus and ITX. The transaction is scheduled to close on 13 November 2009. Further financial details were not disclosed.
Since its establishment in 2005, Broadleaf has expanded its business as a subsidiary of the publicly listed ITX. After reaching agreement with current shareholders, Broadleaf has decided to become independent through a management buyout. By leveraging Carlyle’s global network, Broadleaf aims to achieve further growth through accelerating its overseas operations.
Masao Hirano, managing director and co-head of Carlyle Japan Partners, says: “We are impressed with Broadleaf’s quality products and solid industry position and have great confidence in the leadership of Broadleaf President Kenji Oyama and his management team. Carlyle’s global network will help Broadleaf realise a growth surge as a comprehensive solutions provider for the supply chains of companies in automobile after-market industries.”
Kenji Oyama, president and chief executive of Broadleaf, adds: “Broadleaf’s database and systems are crucial for our customers’ frontline operations. We have grown with our customers through our corporate philosophy of ‘gratitude and joy.’ As the automobile industry is undergoing considerable changes, we believe it is necessary to modify Broadleaf’s business model by partnering with The Carlyle Group, which makes investments with a medium-to-long term perspective. By becoming independent through an MBO, Broadleaf increases business flexibility and speed of its decision making to better serve our customers.”
