British investment fund CVC Capital Partners is considering acquiring Japanese tutoring service Trygroup Inc. in a deal whose value may reach ¥100 billion, according to sources.
CVC Capital hopes to strengthen the Tokyo-based company’s business foundation by expanding its online service so that it can better deal with the coronavirus crisis, the sources said.
According to Trygroup’s website, the company was established in 1987. Its current head is former actor Yurie Nitani.
Trygroup dispatches tutors to customers’ homes and also provides one-on-one tutorials in the company’s classrooms. As of August 2019, the company had 220,000 registered tutors, the website said.
This year, CVC Capital bought Shiseido Co.’s personal care goods operations, including the Tsubaki hair care brand, and proposed the acquisition of Toshiba Corp., which was later withdrawn.
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