DC Advisory advises The Carlyle Group on its privatization of Hogy Medical Co

Background

•  The Carlyle Group is a global investment firm with $474 bn of assets under management (as of September 2025)
• Based in Japan, Hogy Medical is a leading manufacturer of medical-related products, including surgical kits
•  TCG2509 Corporation is a limited partnership wholly owned and managed by The Carlyle Group, established for the purpose of acquiring Hogy Medical

Process

• DC Advisory acted as the Tender Offer Agent to Carlyle

Outcome

• The tender offer has been successfully conducted over the period 18 December 2025 – 2 March 2026
• The Carlyle Group is expected to become the 100% owner of Hogy Medical through TCG2509 Corporation by late May 2026
• This transaction aims to integrate Carlyle’s global network with the expertise of Hogy Medical’s management team to accelerate business growth domestically and overseas