Global buyout major KKR is launching a tender offer for Japan’s Topcon Corp., while PIF-backed Surj invested in PTO’s $40 million funding round.
KKR launches tender offer for Japan’s Topcon
Private equity major KKR said it will launch a tender offer to acquire all outstanding shares and share acquisition rights of Topcon Corp, a Japanese technology manufacturer.
The tender offer will be made through TK Co, Ltd, an entity owned by the investment funds managed by KKR. The management buyout is backed by the company’s top executive and major shareholders, KKR said.
The offer is priced at 3,300 yen per share and 193,400 yen per 7th Series share acquisition right. The tender offer is scheduled to run until Sept. 9, the US investment firm said.
KKR added that Topcon President and CEO Takashi Eto has agreed to tender his shares and will co-invest alongside Japan Investment Corp’s JIC Capital and KKR following the completion of the buyout.
US-based ValueAct Capital, a major Topcon shareholder, will also participate in the transaction. The deal will be funded mainly through KKR’s Asian Fund IV.
Topcon develops technology for optical and precision measurement solutions, with growing applications in AI and IoT platforms.
PIF-backed Surj joins PTO’s $40m funding round
Saudi Arabia’s Public Investment Fund (PIF) has backed the Professional Triathletes Organisation (PTO) through its sports-focused vehicle, Surj Sports Investment, which joined a $40 million Series C funding round for the athlete-owned group.
Surj, established by the $1.15 trillion sovereign wealth fund in 2023, participated alongside existing PTO investors Michael Moritz, Cordillera Investment Partners, and Verance Capital, PTO said in a statement.
While the exact size of Surj’s contribution was not disclosed, Sky News previously reported it was in talks to invest $20 million.
The funding will support PTO’s international expansion, including potential activities in Saudi Arabia and broader Middle East markets. PTO said the investment could pave the way for the kingdom to host its premier T100 Triathlon World Tour championship event.
