INFORICH, which runs the ChargeSPOT mobile battery sharing service, said on 13 February it would go private through a management buyout with Bain Capital, whose vehicle BCJ-102 offered ¥4,560 a share in a tender offer.
Why Bain Capital (BCJ-102) is buying INFORICH Inc.
INFORICH said accelerating domestic roll-out and overseas growth would require large up-front investment for several years, and that Bain's global network, record of supporting acquisitive growth, talent network and management know-how would help it push through management reforms.
Deal terms and financing
The ¥4,560 price was a premium of about 117% to the closing price on 13 February. BCJ-102, set up by funds advised by Bain Capital, sought 9,534,388 shares with a minimum of 6,042,900, implying about ¥43.5bn for the shares sought. Management continues to run the company.
Regulatory approvals and timing
The TSE placed INFORICH under supervision on 13 February. The tender ran from 16 February to 31 March 2026 and succeeded with 9,027,914 shares tendered; BCJ-102 became parent on 7 April. After shareholders approved a share consolidation on 26 May, the TSE delisted the stock on 16 June 2026.
Market context
ChargeSPOT lets users rent and return power banks at stations in shops and transport hubs across Japan and other Asian markets. Bain Capital is among the most active sponsors of Japanese management buyouts.
