EQT Announces USD 2.7 billion Tender Offer to Privatize Fujitec
EQT plans a USD 2.7 billion tender offer to take Fujitec, a leading Japanese elevator and escalator manufacturer, private. This is EQT’s largest buyout in Japan to date and the biggest sponsor-led privatization deal in Japan in 2025.
- EQT intends to make a USD 2.7 billion tender offer to privatize Fujitec, a leading Japanese manufacturer of elevators and escalators
- EQT is committed to supporting and expediting Fujitec’s next phase of growth by working closely with management to enhance operational capabilities, accelerate digitalization, and expand in key markets
- Fujitec represents a high-quality platform with strong engineering capabilities, reliable service operations, and a long-standing reputation for quality and safety.
TOKYO – 30 July 2025 – EQT announced today that BPEA Private Equity Fund IX (“EQT”) intends to make a USD 2.7 billion tender offer (“Tender Offer”) to privatize Fujitec Co., Ltd. (“Fujitec” or the “Company”; ticker symbol: TSE 6406), a leading Japanese manufacturer of elevators and escalators. This marks the largest sponsor-led take-private deal in Japan year-to-date and EQT’s largest buyout in Japan since establishing its Tokyo office in 2006.
Founded nearly 80 years ago and headquartered in Shiga, Japan, Fujitec is recognized for its innovative solutions in elevators, escalators, and moving walks. As the only independent, full-scope elevator and escalator original equipment manufacturer in Japan, Fujitec has established a strong presence with strong brand equity in 24 markets globally.
Following the successful privatization of the company, EQT will own 85% of the Company with the Founding Family rolling over a 15% minority stake. EQT is committed to supporting and expediting Fujitec’s next phase of growth by working closely with management to enhance operational capabilities, accelerate digitalization, and expand in key markets – particularly in Japan, India, North America and Southeast Asia. EQT will also bring its industrial advisor network and active ownership model to help strengthen the Company’s position globally. Fujitec represents a high-quality platform with strong engineering capabilities, reliable service operations, and a long-standing reputation for quality and safety.
Takanobu Hara, Partner in the EQT Private Capital Asia advisory team, said: “Japan is home to some of the world’s most sophisticated manufacturing capabilities, and we see tremendous long-term potential in the market. With four transactions in the past two months – ranging from new partnerships to strategic exits – EQT’s recent momentum reflects both our growing presence and deep conviction in Japan. We are proud to partner with Fujitec and its team to build on its legacy of innovation and quality. Together, we aim to help future-proof the business by enhancing competitiveness, driving digital transformation, and accelerating global expansion – leveraging EQT’s sector expertise, strong track record of supporting industrial technology companies, and long history of working alongside management teams to drive sustainable growth.”
With this transaction, BPEA Private Equity Fund IX is expected to be 5-10% percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size and subject to customary regulatory approvals.
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EQT is a purpose-driven global investment organization with €266 billion in total assets under management (€141 billion in fee-generating assets under management) as of 30 June 2025, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.
Fujitec is a specialized global manufacturer of urban space mobility systems, handling elevators, escalators, and moving walks with a supply chain in 24 countries and regions. The company aims to complete transition into a "New Fujitec" based on the concept of "Continuity and Change", under their new mid-term business plan "Move On 5".
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