EQT’s $2.7 Billion Move to Take Fujitec Private

In a significant development in the industrial sector, EQT, a European investment firm, has announced plans to take Fujitec Co Ltd, Japan’s largest independent elevator and escalator manufacturer, private in a $2.7 billion buyout. This move marks EQT’s largest-ever acquisition in Japan and the biggest private equity-led take-private transaction in Asia this year.

Fujitec, a company with a rich history since its public listing in 1963, specializes in manufacturing elevators, escalators, and sky-parking systems. The company also provides installation and repair services, with manufacturing bases in the USA, Singapore, Taiwan, and South Korea. Listed on the Tokyo Stock Exchange, Fujitec’s shares closed at 5,615 JPY on July 29, 2025, down from a 52-week high of 6,472 JPY in March 2025.

The tender offer, set at 5,700 yen per share, represents a discount to Fujitec’s most recent closing price, leading to a significant slump in its shares by as much as 9.7%, the most in over seven years. Following the completion of the tender offer, EQT is expected to own 85% of Fujitec, with the founding family retaining a minority stake.

EQT’s acquisition strategy involves using its BPEA Private Equity Fund IX to facilitate the buyout. The firm has expressed its commitment to supporting Fujitec’s growth by working closely with its management to enhance operational efficiencies and drive future expansion.

This acquisition comes amid reports of Fujitec being a target of activist investors, highlighting the strategic importance of the company in the industrial machinery sector. With a market capitalization of 476.32 billion JPY and a price-to-earnings ratio of 29.583, Fujitec’s privatization is poised to reshape its strategic direction under EQT’s stewardship.

As the transaction progresses, stakeholders and industry observers will be keenly watching how EQT plans to leverage Fujitec’s global manufacturing capabilities and market presence to achieve its growth objectives.