Bain Capital Completes Sale of Japan Wind Development to INFRONEER
Tokyo – January 31, 2024 – Bain Capital Private Equity and Bain Capital Double Impact (“Bain Capital”) announced today that it has completed the sale to INFRONEER Holdings Inc. (“INFRONEER”), a comprehensive infrastructure services company based in Japan, of the shares of JWD Holdings 3 K.K., which owns all shares of Japan Wind Development Co., Ltd. (“JWD”), certain equity interests in silent partnerships (tokumei kumiai) for multiple business SPCs and related contractual status, rights and obligations. On December 12, 2023, Bain Capital entered into definitive agreement for the sale to INFRONEER of the shares of JWD Holdings 3 K.K., certain equity interests in silent partnerships and related contractual status, rights and obligations in a transaction valued at approximately JPY218.9B ($1.527B).
Bain Capital first invested in Japan Wind Development in 2015 and has contributed important resources and operational and strategic guidance to help the company significantly bolster its onshore operations in Japan’s critically important wind market. As a result, JWD has solidified its position as the country's top independent wind farm developer, with approximately 300 wind turbines in Japan and abroad and a total capacity of approximately 570 MW. The company continues to play a leading role in Japan’s shift from fossil fuels to cleaner energy.
“We’re proud to have supported Japan Wind Development’s journey to become a clear leader in the development, operation, and maintenance of critical onshore and offshore wind projects in Japan,” said Yuji Sugimoto, Partner at Bain Capital in Japan and Co-Head of Asia Private Capital. "The company’s progress and innovation signifies a notable step by Japan in its transition to build a more sustainable future, and we’re confident that INFRONEER is the best partner to continue this important work.”
"Japan Wind Development Co., Ltd. will become a wholly owned subsidiary of INFRONEER Holdings Inc. and one of its major business subsidiaries along with MAEDA CORPORATION, Maeda Road Construction Co., Ltd. and Maeda Seisakusho Co., Ltd." said Kazunari Kibe, Representative Executive Officer and President of INFRONEER Holdings. "We are confident that by complementing and leveraging each other's capabilities and strengths in the wind power generation business, we will become a unique group that can comprehensively develop the renewable energy business in an integrated manner. In the wind power generation market, which is expected to expand further in the future, we will grow together as the #1 corporate group in both name and reality, while resolving all social issues toward the realization of carbon neutrality."
About Bain Capital Private Equity
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity's global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. Since its inception, the firm has made primary or add-on investments in more than 1,150 companies. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $180 billion in total assets and leveraging the firm's shared platform to capture opportunities in strategic areas of focus. For more information, please visit: https://www.baincapitalprivateequity.com/ .