Bain Capital said to seal $1.44bn buyout of Japanese clothing business Mash

Private equity major Bain Capital has reportedly agreed a $1.44bn deal to buy Japanese clothing maker Mash Holdings.

The landmark deal for the Japanese fashion industry will see Bain attempt to build out the business into international markets, a report from Nikkei said.

Mash runs product lines including Gelato Pique pajamas, women’s clothing brand Snidel and cosmetics offering Cosme Kitchen.

A separate report from Reuters said Mash had revenues of about JPY102bn in the 12 months to August 2022, with about 90% of that coming from domestic markets.

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Bain Capital is understood to be out seeking up to $5bn for its latest Asia-Pacific buyout fund, with eyes on a December first close.

Earlier this summer Bain Capital closed a $2bn special situations fund for the Asia Pacific region, doubling the size of its $1bn predecessor.

The new vehicle was the largest of its kind in Asia and also beat its target fund size of $1.5bn.

Bain reached a JPY110bn ($1bn) final close for its first Japan-focused fundraise in 2021.

In September it emerged that the firm was prepping a sale of Japanese human resources software business Works Human Intelligence, in a deal which could value it at up to $2bn.

Source: AltAssets

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