Kurita Water Industries Ltd. (TSE:6370) agreed to acquire an unknown stake in Fracta, Inc. from existing shareholders on May 29, 2018. Kurita Water Industries will also acquire additional stake through subscription for newly-issued shares. Kurita Water Industries will hold 50.1% stake after both transactions with total acquisition cost of $37 million in cash. The Board of Kurita Water Industries approved the transaction on May 29, 2018. The transaction is expected to complete on May 31, 2018. GCA acted as financial advisor and Morgan Lewis acted as legal advisor to Fracta and the sellers. Baird Global Investment Banking acted as a financial advisor to Kurita Water Industries Ltd. Robert W. Baird & Co. acted as financial advisor to Kurita Water Industries Ltd.