Acquisition History / Japan Bullseye Capital / Gateway Arch Co., Ltd.
Japan Bullseye Capital Acquires Gateway Arch Co., Ltd.
Announced April 4, 2025 — Purchase price at a 3x-5x multiple, structured with roughly 25% equity / 75% debt (no absolute figure disclosed)
What happened
Tokyo-based Japan Bullseye Capital, founded by Eisuke Kobayashi and Mitsuharu Suzaki, completed its first acquisition, buying puzzle manufacturer Gateway Arch, established in 1984 and known for patented biomass-resin technology. The deal, backed by 22 investors at closing, was structured as the first search fund acquisition in Japan using a partner model.
- Acquirer
- Japan Bullseye Capital
- Target
- Gateway Arch Co., Ltd.
- Announced
- April 4, 2025
- Price
- Purchase price at a 3x-5x multiple, structured with roughly 25% equity / 75% debt (no absolute figure disclosed)
- Industry
- Jigsaw puzzles, trading cards and art-related products manufacturing
- Buyer type
- Search fund
- Fund vehicle
- Japan Bullseye Capital
- Backing investors
- AIJ Holdings, Capital Tree, Japan Private Equity Co., M2O Search, Scipio Holding, Inclusion Japan
- Status
- Closed
By the numbers
Frequently Asked Questions About This Acquisition
When did Japan Bullseye Capital acquire Gateway Arch Co., Ltd.?
Japan Bullseye Capital acquired Gateway Arch Co., Ltd. on April 4, 2025. This was Japan Bullseye Capital's 1st publicly tracked acquisition out of 1 we have on record.
How much did Japan Bullseye Capital pay for Gateway Arch Co., Ltd.?
Japan Bullseye Capital paid Purchase price at a 3x-5x multiple, structured with roughly 25% equity / 75% debt (no absolute figure disclosed) for Gateway Arch Co., Ltd..
What does Gateway Arch Co., Ltd. do?
Tokyo-based Japan Bullseye Capital, founded by Eisuke Kobayashi and Mitsuharu Suzaki, completed its first acquisition, buying puzzle manufacturer Gateway Arch, established in 1984 and known for patented biomass-resin technology. The deal, backed by 22 investors at closing, was structured as the first search fund acquisition in Japan using a partner model.
What other Jigsaw puzzles, trading cards and art-related products manufacturing companies has Japan Bullseye Capital acquired?
Gateway Arch Co., Ltd. is Japan Bullseye Capital's only publicly tracked acquisition in Jigsaw puzzles, trading cards and art-related products manufacturing so far.