KKR announced that it has completed a tender offer for 55.89% of the common shares of Forum Engineering Inc., a Tokyo‑listed engineering services firm. The offer, executed through KJ003 Co., Ltd.—an entity owned by KKR‑managed funds—acquired 29,761,258 shares, giving KKR a controlling interest on a fully diluted basis. The tender offer closed on December 23, 2025, and the announcement was released the following day.
The acquisition aligns with KKR’s long‑term strategy to deepen its footprint in Japan’s engineering and talent‑development sector. KKR’s Global Impact Fund II, which focuses on companies that advance the United Nations Sustainable Development Goal 8—decent work and economic growth—has led the investment. The deal is part of a broader “Japan restructuring playbook” that seeks to address the country’s projected IT labor shortfall by 2030 and to leverage KKR’s experience in corporate reform and demographic‑driven opportunities.
Forum Engineering is a specialist staffing firm that connects manufacturing companies with electromechanical engineers. The company employs roughly 4,500 full‑time engineers and uses artificial‑intelligence tools to match skills with client needs. KKR plans to broaden employee ownership and enhance training programs, positioning the firm to scale its talent pipeline and deepen engagement among its workforce. "We will expand training and broaden employee ownership to build a stronger, more resilient organization," said George Aitken, KKR’s Managing Director for Global Impact Asia Pacific.
Tsutomu Sato, CEO of Forum Engineering, welcomed the transition to private ownership. "Going private with KKR will allow us to evolve our business model without the short‑term performance pressures of the public market," he said. The partnership is expected to unlock new growth opportunities through KKR’s global network and to accelerate the deployment of AI‑driven talent solutions.
Following the tender offer, Forum Engineering’s major shareholder La Terre Holdings will conduct a self‑tender to consolidate ownership. An extraordinary shareholders’ meeting is scheduled for late February 2026 to finalize the consolidation and establish full ownership under KKR’s control. The move is expected to streamline governance and accelerate strategic initiatives.
KKR has been active in Japan for over two decades, managing more than $20 billion in Japanese assets. The firm’s focus on engineering talent, combined with its Global Impact Fund II’s SDG‑aligned mandate, positions it to address a critical labor gap while delivering value to both employees and clients. The transaction underscores KKR’s commitment to long‑term, impact‑driven investments in the region.
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