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Carlyle exits Japanese software group Broadleaf with Tokyo IPO

22 Mar 2013

tokyo skyline_sqBuyout giant The Carlyle Group has exited its investment in Japanese software firm Broadleaf, which has floated on the Tokyo Stock Exchange.

Carlyle has sold 16.5m of its shares in Broadleaf – which represents 73 per cent of total shares outstanding – and allocated the remaining 2.8m shares for an over-allotment.

Including the over-allotment portion, Carlyle will sell all of its interest in the business, which was acquired in November 2009.

Broadleaf provides software to maintenance and repair shops, body shops, dismantlers and parts distributors. Prior to its management buyout in 2009, Broadleaf was a division of ITX.

Tamotsu Adachi, Carlyle Japan managing director, said, “Since our investment in 2009, Carlyle has worked closely with Broadleaf to enhance its business model and expand its overseas operations.

“With quality products and solid industry position, Broadleaf is positioned for continued growth and will make substantial contribution to the society as a public company.”

Earlier this month it was reported that top executive at Carlyle enjoyed a $57.6m payday in 2012, mainly as a result of dividends from their ownership stakes in the firm.

While Carlyle chairman Daniel D’Aniello and two co-chief executive officers, William Conway and David Rubenstein forfeited a bonus of $3.5m, they each took home $57.3m through their 15.4 per cent cent ownership stakes in the firm stakes in Carlyle.

This was down from the $137.8m they received in 2011.

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