JENSEN-GROUP and MIURA create a heavy-duty laundry Joint-Venture in Japan.

JENSEN-GROUP and MIURA have agreed to a Joint-Venture whereby the JENSEN-GROUP will acquire 49% of the shares of Inax Corporation (“Inax”), a Japanese wholly owned subsidiary of MIURA. MIURA will take a 20% stake in the JENSEN-GROUP through a contribution of 49% of the shares of Inax and an add-on capital increase in cash, both at a subscription price of 36 euro per share.

The transaction will make the JENSEN-GROUP a key partner for Inax, one of the main manufacturing and distribution companies for heavy-duty laundry equipment in Japan (please find below some key financial figures of Inax). MIURA will become the second largest shareholder in the JENSEN-GROUP and will have one board seat in the JENSEN-GROUP, as long as the Joint-Venture Agreement remains in force.

David Miyauchi, CEO of MIURA, states: “Together we will be able to strengthen our already strong market position in Japan with high-tech JENSEN products. We will be able to accelerate our growth and offer the most efficient solutions to our customer base.”

“We started our Go East strategy a long time ago. This Joint-Venture is the culmination of many years of hard work and dedication. I have always wanted to be a market leader in Japan, which is very high-tech driven and one of the largest heavy-duty laundry markets in the world” says Jesper M. Jensen, CEO of the JENSEN-GROUP.