Deal Announcement Industrials - Primix
IMAP Japan advises Primix, an industrial mixing machinery manufacturer, on sale to Tsukishima Kikai. IMAP Japan advised PRIMIX Corporation, a leading manufacturer and engineer of industrial mixing machinery, such as emulsifying, pulverizing, dispersing, and kneading equipment, on the sale of 100% of its shares to Tsukishima Kikai Co., Ltd., a leading machinery company specializing in water environment, industrial plant engineering, and incineration technology. The transaction was closed successfully despite the ongoing Coronavirus pandemic and extended nationwide state of emergency throughout Japan.
PRIMIX machinery and equipment caters to various industries, including Lithium-ion batteries, cosmetics, chemicals, IT, food and drinks, and toiletries and its revenue was approximately $80 million in FY 2019. Founded in 1927, PRIMIX has over 90 years of rich history and on its 90th anniversary in 2017, was selected as the “Regional Future Leader Company” by Japan’s Ministry of Economy, Trade and Industry.
Tsukishima Kikai is one of Japan’s leading manufacturers in industrial water purification and sewage treatment plant equipment, specializing also in plant engineering for various fields such as chemicals, iron and steel, foods, Lithium-ion batteries, and environment and waste management. The company was founded in 1905 and has recently been active in utilizing M&A to expand its business, making this its 5th M&A deal in the past decade. Its market cap is $550 million, with revenues of $947 million in FY 2019.
