Transfer of Shares in Credge Co., Ltd.
Advantage Partners, LLP (“AP”) announced today that funds served by AP (“AP Funds”) have sold all shares of Credge Co., Ltd. (“Credge”) to MIT Partners 2, a subsidiary of MIT Corporate Advisory Services Co., Ltd. (“MIT”).
AP Funds acquired Credge, formerly the apparel business of Joe International Co., Ltd., through a MBO process in August 2007. Following the MBO, AP Funds assisted in modernizing the management as well as helped the company expand nationwide, through various initiatives including, implementing a new management structure, systematically realigning manufacturing and distribution channels, and streamlining administrative functions. In contrast, the company’s highly-valued corporate philosophy, comprised from two words “Create” representing creativity and “Edge” representing cutting-edge, was preserved. In recent years, AP Funds have put an emphasis on enhancing Credge’s brand portfolio, as well as optimizing its operations and promotional activities, to help the company pursue growth channels such as selling in train station buildings, in shopping centers, and via e-commerce.
As a result of these activities, the company has seen success in its branding strategies, represented by the company’s strong brand portfolio including the established “LIP SERVICE” brand. Credge has also been successful in pursuing growth channels and the number of stores managed has increased by 80% in the last six years. Likewise, the penetration rate for train station buildings, shopping centers, outlets, and overseas has also increased. In addition, Credge has been a front-runner in the e-commerce space and has been able to achieve a high level of growth in this area.
The sale to MIT was achieved based on the belief that Credge will be able to further enhance its multi-channel/multi-brand presence, utilizing its established brand portfolio and operational capabilities as a result of the sale. Credge anticipates synergies from MIT’s logistics and manufacturing capabilities, which are expected to augment Credge’s infrastructure framework and support business expansion. In this respect, AP Funds believe MIT to be the optimal partner for Credge’s future growth.
Going forward, AP Funds aim to further pursue investments in the fashion industry, building on its experience from the Credge investment.
Overview of MIT
- Company Name
MIT Corporate Advisory Services Co., Ltd.
President and CEO
- Shareholder’s Equity
JPY 50.5 million
- Business Description
Turnaround Advisory, Transaction Advisory, Private Equity Fund Management
Shibuya Cross Tower 14F, 2-15-11, Shibuya, Shibuya-ku, Tokyo, 150-0002
- Corporate Website
Overview of Credge
Credge Co., Ltd.
President and CEO
JPY 480 million
Planning, manufacturing and sales of women clothing and accessories
Nishi Shinjuku Matsuya Building 5F, 4-31-6, Yoyogi, Shibuya-ku, Tokyo, 151-0053
(日本語) PDF DOWNLOAD
- Name of company
- CREDGE Co.,Ltd
- Investment date
- August 2007
- Type of company
- Succession of business in line with the concentration of owner resources to other businesses within the group.
- MBI Ⅲ
- Japan Buyout
- Case Types
- Founder/Owner Succession
- Consumables / Retail / Distribution
- Transfer of Shares in Credge Co., Ltd.