Houlihan Lokey Advises Nelumbo

Houlihan Lokey is pleased to announce that Nelumbo Inc. (Nelumbo) has been acquired by Kuraray Co., Ltd. (TSE:3405; Kuraray). The transaction closed on April 1, 2025.

Headquartered in Hayward, California, Nelumbo was founded in 2016 as a technology startup out of the University of California, Berkeley, and is a leading developer of advanced surface modification solutions. Nelumbo’s proprietary platform enables new possibilities in areas such as anti-ice and anti-corrosion, offering high-performance and sustainable benefits across industries.

Headquartered in Tokyo, Japan, Kuraray is a global specialty chemical company recognized for its innovative materials and technologies. The Kuraray Group has positioned “Innovations Starting with Networking” as one of the three challenges in its medium-term management plan, “PASSION 2026,” and is working to create new businesses. This technology will enhance and expand Kuraray’s base of polymer chemistry, synthetic chemistry, and related peripheral technologies and provide new value to the market.

In 2023, Kuraray entered into an exclusive partnership agreement with Nelumbo and both parties have been working together to apply Nelumbo’s organic substrate surface modification technology to fibers and other polymer products. Through this collaboration, Kuraray concluded that Nelumbo’s technology is excellent and can improve the functionality of a broad range of substrate surfaces without using PFAS and other increasingly regulated chemicals.

The acquisition of Nelumbo enhances Kuraray’s advanced materials capabilities, broadening its technological reach into next-generation surface modification solutions. In turn, Nelumbo will benefit from Kuraray’s global presence, R&D resources, and established customer relationships, driving continued innovation and market expansion for both organizations.

Houlihan Lokey served as the exclusive financial advisor to Nelumbo.

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