Nihon Kolmar (TOA Group) Acquires Tokiwa Cosmetics Group from Carlyle

SWCC and Development Bank of Japan Acquire TOTOKU Inc. from Carlyle

February 21, 2025

Manufacturing

Global investment firm Carlyle has agreed to sell TOTOKU Inc., a Japanese manufacturer of specialty wires and electronic devices, to SWCC Corporation and the Development Bank of Japan. The transaction (a Carlyle divestiture) is subject to customary approvals and was announced February 21, 2025 with closing expected by the end of March 2025.

Cabot Corporation Acquires Tokai Carbon (Tianjin) Co., Ltd Plant

March 1, 2022

Manufacturing

Cabot Corporation has completed the acquisition of Tokai Carbon (Tianjin) Co., Ltd from the Tokai Carbon Group. The purchase expands Cabot's carbon black manufacturing capacity (site output ~50,000 metric tons annually) to support its Battery Materials product line and broader carbon black customers, with planned investments to upgrade the site to produce battery-grade conductive carbon additives.

KKR Acquires Samhwa Co., Ltd.

September 4, 2025

Manufacturing

KKR has fully acquired South Korea–based cosmetics packaging manufacturer Samhwa Co., Ltd. from TPG in a transaction valued at KRW733 billion (approximately US$528 million). The acquisition positions KKR to support Samhwa's next phase of growth and global expansion in high-end cosmetics packaging, leveraging Samhwa's R&D capabilities and customer relationships with luxury beauty brands.

AURELIUS Acquires Teijin Automotive Technologies North America

March 31, 2025

Automotive

AURELIUS Private Equity Mid‑Market Buyout has acquired Teijin Automotive Technologies North America (TAT‑NA) from Japanese parent Teijin Limited. Headquartered in Auburn Hills, Michigan, TAT‑NA is a leading manufacturer of advanced composite components for automotive, heavy truck, marine and recreational vehicle markets; the business employs ~4,500 people across 14 sites in the US and Mexico and generates over $1 billion in annual revenue.

Taiho Pharmaceutical Acquires Cullinan Pearl to Co-develop CLN-081/TAS6417

May 12, 2022

Pharmaceuticals

Taiho Pharmaceutical Co., Ltd. will acquire Cullinan Pearl Corp., a subsidiary of Cullinan Oncology, for $275 million upfront plus up to $130 million in regulatory milestone payments, and will co-develop and co-commercialize CLN-081/TAS6417. Cullinan Oncology will retain co-development and an option to co-commercialize in the U.S.; the deal provides Cullinan Oncology with cash to extend its runway and reduces its development and pre-commercialization costs.

Bielenda Group Acquires Torf Corporation (Tołpa & ON)

January 1, 2023

Consumer Products

Bielenda Natural Cosmetics will acquire 100% of Torf Corporation, the owner of the Tołpa and ON brands, in a transaction supported by Bielenda’s main investor Innova Capital. The majority stake in Torf is being sold by private equity firm Resource Partners; the deal will expand Bielenda’s product portfolio—including entry into oral hygiene—and awaits approval from the Polish Office of Competition and Consumer Protection.