KKR Completes Acquisition of Hitachi Transport System
March 01 2023 - 1:49AM
Business Wire
Global investment firm KKR announced today that KKR has
completed KKR’s acquisition of Hitachi Transport System Ltd. (“HTS”
or the “Company”). KKR holds the shares of HTS through HTSK Co.,
Ltd. (“HTSK”), a special purpose entity which owns 100% of the
shares with voting rights in HTS, and through HTSK Holdings Co.,
Ltd. (“HTSK Holdings”), a 100% parent and holding company of HTSK.
KKR will work in strategic partnership with Hitachi Ltd.
(“Hitachi”), which owns 10% of the shares with voting rights in
HTSK Holdings and KKR owns the remaining 90% of the shares with
voting rights.
HTSK acquired 100% of the shares with voting rights in HTS
through a cash tender offer, the results of which were announced on
November 30, 2022, a share consolidation that became effective on
February 28, 2023, and a buyback by HTS of the shares held by
Hitachi on March 1, 2023.
HTS will be renamed LOGISTEED, Ltd. (“LOGISTEED”) from April 1,
2023, a name that combines LOGISTICS with Exceed, Proceed, Succeed,
and Speed, which represents the Company’s determination to grow its
business into new areas beyond logistics. Also from April 1, 2023,
HTSK Holdings and HTSK will change their names to LOGISTEED
Holdings, Ltd., and LOGISTEED Group, Ltd., respectively.
LOGISTEED will build on HTS’ leading position in the third-party
logistics (“3PL”) business in Japan. The Company provides supply
chain solutions for customers who outsource logistics functions
such as logistics system integration, inventory and order control,
logistics center operations, factory logistics, and transportation
and delivery services. It has a strong domestic 3PL business as
well as an international business which includes a forwarding
business and related 3PL business.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and
on Twitter @KKR_Co.
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version on businesswire.com: https://www.businesswire.com/news/home/20230228006515/en/
KKR Media Anita Davis +852 3602 7335
Anita.Davis@kkr.com
Wei Jun Ong +65 6922 5813 WeiJun.Ong@kkr.com
FGS Global (for KKR Japan) Samuel Brustad +81 70 3853 3284
Samuel.Brustad@fgsglobal.com
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