Management group Apollo plans to acquire NSG Group. Upon completion, the transaction will be Apollo Funds’ largest private equity investment in Japan to date, totaling nearly $3.7 billion in enterprise value. The transaction requires NSG shareholder approval at the annual general shareholder meeting scheduled for late June and is subject to regulatory approvals. The transaction is expected to be completed around March 2027.
Acquisition details
Under the terms of the agreement, Apollo Funds will invest equity to support the company’s financial position and long-term growth. In conjunction with this investment, NSG’s principal lenders will effectively transition a portion of their outstanding loans to equity.
NSG Group’s diversified manufacturing platform, industry heritage and deep customer relationships position the company to capture accelerating demand for energy-efficient architectural glass, advanced automotive glazing and performance solar products. With Apollo Funds’ investment and strategic support, NSG Group will be able to accelerate growth initiatives, invest in next-generation technologies and continue delivering quality solutions to ITS customers worldwide.
What leadership says
“This investment unites Apollo’s scaled industry and operational expertise globally with NSG Group’s legacy of manufacturing excellence and innovation,” says Tetsuji Okamoto, Lead Partner, Asia Pacific Private Equity at Apollo. “NSG Group is a foundational player in the global glass industry, and this tailored financing reflects the collective commitment of stakeholders across Japan to the long-term success of NSG Group. We look forward to supporting NSG Group’s management team and employees through this transformational period to drive performance, innovation and sustainable value creation.”
“This partnership with Apollo Funds and our principal lenders enables us to reinforce our financial position, invest in our people and technology and lead the next era of glass manufacturing. With Apollo’s deep expertise in manufacturing and long-term partnership, we are prepared to continue delivering for our customers while building a stronger, more resilient enterprise,” says NSG Representative Executive Officer, President and CEO Munehiro Hosonuma.
