(Tokyo, 30 August 2023) Trustar Capital (formerly known as CITIC Capital Partners), a private equity affiliate of CITIC Capital Holdings Limited, announced that it has agreed to sell Moritex Corporation (“Moritex” or the “Company”) to Cognex Corporation (NASDAQ: CGNX) (“Cognex”). Expected closing of the transaction is in the next few months.
Established in 1973, Moritex is engaged in the development, manufacture and sales of machine vision systems such as high-spec lens and lighting for industrial use, and medical and cosmetic equipment. With its technological advantage of combining lens and light design, Moritex has established a strong customer base in each of its business segments. One of its core business segments, Machine Vision, has built a solid customer base including blue-chip international companies.
Since the investment in January 2015, Trustar Capital led Moritex’s growth by strengthening its business foundation and capturing further growth potential, through setting new business strategy, developing global platform and customer base, and implementing a series of operational improvements. Moritex had achieved transformation focusing on the high valueadded products leveraging its distinguished technologies and experiences in machine vision system, and Trustar Capital Group’s global network and resources. Under Trustar Capital’s ownership, Moritex has reinforced its presence in machine vision system market establishing solid positioning in diverse customer base, accelerating expansion to overseas, and achieved strong growth globally as well as significant profitability enhancement through various initiatives.
Cognex is a world leader in the machine vision industry, having shipped more than 4 million image-based products, representing over USD10 billion in cumulative revenue, since the company’s founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has offices and distributors located throughout the Americas, Europe, and Asia.
Under the new ownership structure, we are confident that the two companies will definitely benefit from tremendous synergies and enhanced value when putting together their unique brands, technologies, customer bases and sales networks, material procurement capabilities and other managerial resources.
– Ends –
Notes: Mitsubishi UFJ Morgan Stanley served as a financial advisor, Anderson Mori & Tomotsune served as a legal advisor, Deloitte Tohmatsu served as an accounting/tax advisor, and Arthur D. Little served as a business advisor for the transaction.
About Moritex Corporation
Established: 1973
Representative: Takao Sato, President and CEO
Headquarters: Kanagawa, Japan
Website: https://moritex.com/index.html
About Cognex Corporation
Established: 1981
Representative: Robert Willett, President and CEO
Headquarters: Natick MA, United States
Website: https://www.cognex.com/
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed around 100 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD8.6 billion of committed capital. For more information, please visit www.trustarcapital.com.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited. Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD18.3 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 290 portfolio companies that span 11 sectors and employ over 600,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
Masahiro ITO
Senior Managing Director, Head of Japan Private Equity
Trustar Capital Partners Japan Limited
Tel: +81 3 5211-3830