Mizuho subsidiary exits Matsubo
A portfolio company owned by Mizuho Capital Partners has reportedly exited its stake in Matsubo, a machinery trading company, to Shinsho Corp.
According to Japanese private equity specialist Brightrust, Tokyo-listed Shinsho, which is a division of Kobe Steel Group, announced that it acquired an 85.7% stake in Matsubo and will manage it as a business subsidiary. Details of the deal's value has not been disclosed.
Shinsho purchased the company from Ebara Corp., a publicly listed pumps manufacturer that is backed by Mizuho Capital. Mizuho first invested in Ebara in 2007, in which is launched an MBO
The news marks the latest exit by Mizuho. Earlier this year, the investor also exited its holdings in Tokyo-based biotech company SDS Biotech K.K., to oil distributor Idemistu Kosan Co., as well as its 39.3 % stake in Vantec Group Holdings, to Hitachi Transport System.
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