Nippon Mirai Capital has agreed to sell 100% of the oustanding shares of Aquaintec Corp, formerly Asahi Tech Environmental Solutions Corp, to Nihon-Kasisui Co., a subsidiary of Air Water Inc., on July 1st. Aquaintec specializes in water utility renovations, whereas Nihon-Kaisui, meaning Japan sea water, has been developing water treatment and soil cleansing business based on its expertise accumulated through salt production from sea water.
Nippon Mirai had bought 100% of Aquaintec reportedly for JPY 2.4 billion in November 2010.
Air Water Inc., the parent company of Nihon-Kaisui, has been actively acquiring PE portfolio companies. In addition to Aquaintec, it purchased Nihon-Kaisui from Advantage Partners in 2007 and Goldpak, soft-drink producer, from i-Sigma Capital in 2012.
June 25, 2013
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