One Equity Partners backs Nippon Gas Co., Ltd. with $140 million equity investment
TOKYO, JAPAN—September 28, 2011 – One Equity Partners (OEP), the global private investment arm of JPMorgan Chase & Co., has acquired an 18.5% equity stake in Nippon Gas Co., Ltd. (TSE: 8174), a leading distributor of liquefied petroleum gas and liquefied natural gas.
“Japanese businesses lead the world in product and process development,” said Dick Cashin, OEP’s founder and managing partner. “With our investment in Nippon Gas, we’re extending our long history of partnership with management and shareholders to grow their businesses at home and internationally through acquisition and investment.” Nippon Gas provides reliable, economical residential and industrial gas services to nearly a million Japanese households.
Nippon Gas CEO Shinji Wada commented, “Thanks to the good efforts of our team, we are fortunate that Nippon Gas continues to demonstrate a strong growth profile even in difficult economic times. We are delighted to have OEP as a partner in our business to support our strategic growth plans. OEP’s global expertise will be particularly helpful as Nippon Gas expands its international presence to provide affordable energy to consumers.”
“Nippon Gas is a company committed to offering its customers better choice and better value in energy at home and abroad. The company’s record of technological innovation in efficient gas distribution has helped Japanese consumers save money and conserve energy. With our support and the resources of JPMorgan Chase & Co, we believe Nippon Gas can accelerate its growth in the years ahead,” said OEP managing director Andrew Oliver.
About Nippon Gas:
Nippon Gas is the largest Japanese supplier of liquefied gas and a major regional player in the liquefied natural gas business. Founded in 1955, the company has grown rapidly since 2005 in Japan’s densely populated Kanto Plain region under the leadership of current CEO Shinji Wada. The company provides gas to approximately 950,000 customers in Japan and is a leader in providing safe, high quality gas supply systems for the distribution of gas.
With headquarters and administrative offices located in Tokyo, Japan, Nippon Gas employs over 1,300 people, including subsidiary operations.
About One Equity Partners:
One Equity Partners is the private investment arm of JPMorgan Chase & Co. and manages over $10.5 billion in commitments and investments solely for the bank. OEP enters into long term partnerships with companies to create sustainable value through long term growth, driven both organically and inorganically. Founded in 2001, OEP has 39 investment professionals in New York, Chicago, Frankfurt, Hong Kong and elsewhere around the globe. Visit www.oneequity.com for more information.