Topcon Management Buyout to Take Company Private

Key takeaways

• Why Topcon is going private.
• Who will own Topcon.
• How Topcon will function.

Topcon Corp. president/CEO Takashi Eto is leading a management buyout (MBO) to take the technology firm private to “accelerate our strategies with the speed we wish,” according to the company. Topcon Corp. will no longer be listed on the stock exchange.

Read today’s top news.

KKR and JIC Capital, a wholly owned subsidiary of Japan Investment Corp., will supply the funds with KKR taking 70% of the company and JICC 30%. The tender offer is 3,300 yen per share, or about $23. The price represents a 99.5% premium over the simply average closing price for the 12 months up to December 9, 2024; and a 105.2% premium over the stock’s price for the six months up to December 9, according to the company.

The Topcon name will remain, according to a company spokesperson, who added: “The reaction to this announcement from our OEM customers has been positive and well-received.” Executive leadership continues as structured with Eto for Topcon Corp. and Ivan Di Federico as president/CEO of Topcon Positioning Systems.

Topcon expects the MBO plans to provide additional funding for new investments, mergers and acquisitions, and joint ventures.

The buyout is expected to start in July, pending regulatory approvals.