Polaris Capital Acquires Socie World From Citigroup Capital Partners Japan

Polaris Capital Group has announced teh acquisition of Socie World Co., Ltd. through its 3rd fund (1 April 2013), which has raised JPY 36 billion so far.

According to its press release, "Polaris Private Equity Fund III .... completed the acquisition of close to 100% of the issued shares of Socie World Co. Ltd from the current shareholders including Citigroup Capital Partners Japan Ltd.""Socie World operates aesthetic salons, hair salons and sports clubs for middle to high-end customers." "Socie World have opened its aesthetic salons in high-class department stores and luxury hotels and as a result secured a very solid business franchise.""On the overseas front, Socie World .... succeeded in establishing a strong franchise in Taiwan. By applying the success formula in Taiwan to other markets in Asia including China, Socie World should be able to achieve a mid to long-term growth."

According to Nikkei,  the amount invested by Polaris was JPY 3 billion.