Mitsui Matsushima Co., Ltd. agreed to acquire Clean Surface Technology Co. from Polaris Private Equity Fund III, L.P., managed by Polaris Capital Group Co., Ltd. and Tiara Cg Private Equity Fund 2013, L.P. for ¥4 billion.
January 13, 2017
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Mitsui Matsushima Co., Ltd. (TSE:1518) agreed to acquire Clean Surface Technology Co. from Polaris Private Equity Fund III, L.P., managed by Polaris Capital Group Co., Ltd. and Tiara Cg Private Equity Fund 2013, L.P. for ¥4 billion on January 13, 2017. Under the terms, Mitsui Matsushima Co., Ltd. will acquire 0.02 million shares, representing 100% stake in Clean Surface Technology Co. Polaris Private Equity Fund III, L.P. will sell its 75.2% stake and Tiara Cg Private Equity Fund 2013, L.P. will sell its 24.8% stake. For the year ended March, 2016, Clean Surface Technology Co. had sales of ¥2.68 billion, operating profit of approximately ¥480 million, net income of approximately ¥440 million and as at March 31, 2016, net assets of ¥1.63 billion and total assets of ¥4.44 billion. The transaction is expected to close on February 1, 2017.
Mitsui Matsushima Holdings Co Ltd, formerly Mitsui Matsushima Co Ltd is primarily engaged in production, purchase and sales of coal business. The Company also engaged in the manufacture and sale of office equipment, mask blanks for various applications centered on liquid crystal panels, organic electroluminescence (EL), electronic components and others, manufacture and sale of straws, purchase and sale of packaging materials, as well as planning, production and sale of men's clothes, women's clothes and shirts. The Company has two business segments. The Energy segment is engaged in coal sales, coal production and renewable energy business. The Daily Lifestyle segment is engaged in provision of office supplies, electronic components, food and drink materials, clothing products, and care business. The others engage in rental business, ports business, propane gas supply business, as well as overseas dispatch training course business.
Mitsui Matsushima Co., Ltd. agreed to acquire Clean Surface Technology Co. from Polaris Private Equity Fund III, L.P., managed by Polaris Capital Group Co., Ltd. and Tiara Cg Private Equity Fund 2013, L.P. for ¥4 billion.
MITSUI MATSUSHIMA HOLDINGS CO., LTD. 
