TOKYO – Global investment firm Carlyle today announced it has acquired Kyoden, a leading Japanese manufacturer of printed circuit boards.

Terms were not immediately disclosed.

Founded in 1983 and headquartered in Nagano Prefecture, Kyoden is a leader in the design and manufacture of PCBs and board assembly for electronics devices, with a focus on small-lot and high-variety products delivered in short turnaround times. The business employs about2,100 employees, with manufacturing plants in Japan and Thailand and regional sales presence across APAC. It has deep experience in electronics manufacturing services, providing end-to-end solutions from component design and manufacturing, procurement of materials and assembly of units and large-scale devices.

The company’s product suite spans a diversified set of industrial applications including automated guided vehicles, semiconductor manufacturing equipment, amusement machines, wired and wireless equipment, and automotive devices.

In partnership with Kyoden’s management team, Carlyle said it will support the company to further accelerate its growth plans through the continued development of its manufacturing capabilities focused on high-multilayer and build-up PCBs and commercial operations. Leveraging its global platform and resources, Carlyle will also support the business’ international expansion.

In a statement, Kazuhiro Yamada, co-head of Carlyle Japan, said: “Kyoden has a high market share in the PCB industry thanks to its differentiated business model and advanced technological capabilities. Customer needs are becoming more diverse every day, and there is a growing need to incorporate more functions into more compact and lightweight devices. In acquiring Kyoden, we will support the business in responding to those evolving customer demands, continue its focus on technology and innovation, and accelerate its international expansion. We look forward to partnering with Kyoden’s management team in its journey to becoming a leading international PCB manufacturer.”

Hiroshi Naganuma, president of Kyoden, added : “We are excited to start the new partnership with Carlyle to sharpen our unique business model and accelerate Kyoden’s further growth in high-multilayer and build-up PCBs, the global PCB market, and EMS business. We believe Carlyle, with its deep knowledge and track record of growing Japanese companies like Kyoden, is the perfect partner to support the business’ accelerated growth trajectory.”

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