Carlyle Group invests $970 million in Rigaku

U.S. private equity firm The Carlyle Group will invest about $970 million in Rigaku, a major Japanese manufacturer of analytical instruments, offering funding access and management know-how to pave the way for an initial public offering within the next few years.

A new holding company will be set up to buy out existing shareholders, split 80-20 between Carlyle and Rigaku President Hikaru Shimura. This investment will likely be the first by a $2.3 billion Japan-focused fund, the largest of its kind, set up by Carlyle last year.

Rigaku, established in 1951, is among the world’s top manufacturers of equipment for X-ray analysis, and it sells instruments for the medical and semiconductor industries as well.

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