Houlihan Lokey Advises the Founder Family of Plus One Techno

Houlihan Lokey is pleased to announce that Plus One Techno Co., Ltd. (Plus One Techno), has been acquired by Mitsui Matsushima Holdings Co., Ltd. (Mitsui Matsushima). The transaction closed on August 29, 2023.

Plus One Techno manufactures high-performance food weighing equipment for major food companies, such as Nissin Foods and Ajinomoto Food Manufacturing, and packaging machine manufacturers, such as Fuso Sangyo, with sales of approx. $5.0 million, and adjusted EBITDA of approx. $1.0 million. (FY22/9).

Established in 1913 and headquartered in Fukuoka, Mitsui Matsushima is a supplier of energy resources, primarily coal, and has since diversified into various business areas by acquiring nine businesses ranging from beverage and food packages, fashion, electronic parts, and office equipment, to pet food. This acquisition signifies the establishment of a new business and a move away from coal.

By becoming part of one of the largest group companies in the Kyushu region, Plus One Techno will further fortify its business by adopting production management best practices and talent with Mitsui Matsushima, and, at the same time, resolve its succession issue through this transaction. Mitsui Matsushima will obtain a foothold in a new growth business that will potentially replace its legacy business as part of its long-term management plan to transform its corporate portfolio.

HL Succession, a Japanese subsidiary of Houlihan Lokey, acted as the exclusive financial advisor to the founder family. Houlihan Lokey has a long-standing relationship with Mitsui Matsushima, who is active in M&A, and this is the third deal involving the company.