KKR affiliate bids to take Forum Engineering private

Forum Engineering Inc. announced its board's resolution to recommend a tender offer by KJ003 Co., Ltd., an entity managed by Kohlberg Kravis Roberts & Co. L.P. (KKR). The offer proposes to acquire common shares at JPY1,710 per share and share options at JPY1 per share option, with the goal of taking Forum Engineering private and delisting its stock from the TSE Prime Market by mid-May 2026. This two-step acquisition includes a planned tender offer for own shares by Forum Engineering in early March 2026 at JPY1,530 per share.

The board's decision follows extensive negotiations, which saw the tender offer price increase from an initial JPY1,510 to JPY1,710 after multiple proposals from KKR and reconsideration requests from Forum Engineering and its Special Committee. KKR's investment strategy focuses on long-term value creation, leveraging its global resources to support Forum Engineering's growth strategies, including AI-powered talent matching platforms and overseas expansion in India.

In parallel with the buyout, Forum Engineering is accelerating its "cognavi Vision 2026" plan, focusing on engineer staffing, graduate recruitment, career changes, and college programs, while also addressing climate change initiatives to achieve carbon neutrality by 2050. The company projects increased net sales and operating profit for FY March 2026, with an estimated 4,579 utilized engineers by September 2025.