Bain To Invest JPY 17 Billion In Macromill Take-Private

Bain Capital has initiated a TOB to acquire 100％of outstanding shares and stock options issued by Macromill, Inc., which conducts internet-based marketing research in 87 countries with  the top market position in Japan and Korea.

The maximum amount of share purchase will be JPY 53 billion including fees.  The purchase price was set at 29.3% over the last 6 month average share price. Yahoo Japan is the largest shareholder with a 22.4 % stake.

Bain will invest JPY 17 billion through an SPC and up to JPY 36 billion will be financed by Mizuho Bank (JPY 28 billion) , Mizuho Capital Partners' mezzanine fund #2  (JPY 2 billion), Mizuho Securities Principal Investments (JPY 2 billion) and Chuo-Mitsui Private Equity Partners #8 (JPY 4 billion).

Macromill has a revenue of JPY 17 billion with JPY 4.2 billion EBITDA for the FY ending June 2013. The company had a net cash of approx. JPY 8 billion. Macromill aims to invest more aggressively in its research systems as well as business development globally by going private.