New Horizon acquires Japan firefighting business

In a statement New Horizon said it would focus on building sustainable management and operational strategies for the business, including providing access to its international networks to support expansion in Asian emerging markets. The acquisition is expected to close by the end of June; financial details have not been disclosed.

Following the purchase, the business will become an independent company, whose name has not yet been determined. It will continue to manufacture portable pumps, vehicles, fire extinguishers, water purifiers and other products aimed at firefighting. It will also seek to maintain and strengthen its relationships with local governments, fire departments and distributors across Japan.

ISM, whose business also includes diesel engines, tractors and tractor components, golf equipment, and lawn-care products, is owned by the conglomerate IHI. The company began manufacturing firefighting equipment in 1950. For the year ended March 2016 ISM generated revenue of JPY28.8 billion ($259 million).

In its latest annual report the company overall recorded revenue of JPY1.54 trillion, up from JPY1.46 trillion the year before. Over the same period net profit dropped from JPY6.7 billion to JPY5.1 billion.

New Horizon is currently investing its second fund, a 2012-vintage vehicle that focuses on buyouts of Japanese small and medium-sized companies. Investments include ceramics maker Tachikichi, which the GP purchased in 2015 for JPY1.1 billion.

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• Topics
• North Asia
• Industrials
• Buyouts
• Japan
• New Horizon Capital
• manufacturing