Stamford, CT, April 2026: TrueNorth Capital Partners LLC is pleased to announce that its wholly-owned subsidiary, TNCP, LLC (“TrueNorth”) acted as exclusive financial advisor to NPR-RIKEN Corporation, (TYO 6209) (“NPR-RIKEN”) on its acquisition of 100% of the capital stock of Hastings Holding Corp. (“Hastings”) a portfolio company of RFE Investment Partners, through its wholly-owned subsidiary Riken Corporation of America. (“Riken”).

Hastings is a manufacturer of piston rings for use in gas and diesel engines, as well as industrial compressor applications, across a broad range of end markets including automotive, truck, commercial, powersports, industrial, and marine. Hastings is based in Hastings, Michigan.

The acquisition of Hastings will allow NPR-RIKEN to transform its business portfolio in a way that leads to more sustainable growth in sales and profit. In addition to expanding its “next core businesses” into non-ICE fields, the NPR-RIKEN is working to achieve stable profitability through market share increases in its core piston ring business, including the replacement ring aftermarket.

Mr. Tenya Mitsuboshi, Executive Officer and General Manager of Business Development Division commented, “The TrueNorth team’s dedicated support and guidance, backed by its extensive cross-border M&A expertise, were invaluable as we navigated the complexities of this transaction. I look forward to working with the Hastings team to realize the synergies between the two groups.”

Tsuyoshi (Yoshi) Togo, Fred Rossetti, and Matt Kodama, Managing Directors acted as Lead Bankers on this transaction with support from Ani Vajjah, Vice President, and Cos Lazzarino, Senior Analyst.

Any further inquiries can be directed to TrueNorth at the contact information provided below:

Yoshi Togo, Managing Director
Direct Dial Phone Number: (203) 817-0284
E-mail address: ttogo@truenorthcp.com

Fred Rossetti, Managing Director
Direct Dial Phone Number: (203) 817-0276
E-mail address: frossetti@truenorthcp.com

Matt Kodama, Managing Director
Direct Dial Phone Number: +81 (80) 6742-2293
E-mail address: mkodama@truenorthcp.com

About NPR-RIKEN Corporation:
NPR-RIKEN (TYO 6209) together with its subsidiaries, manufactures and sells automobile engine parts, marine engine parts, and other products in Japan and internationally. It operates through the Automotive & Industrial Machinery Parts Business, Plumbing & Construction Equipment Business and Semiconductor and Electronics-related Business segments. The company offers automotive parts, including piston rings, camshafts, valve seat inserts, cylinder liners, and other parts for internal combustion engines, as well as casting parts for car bodies and seal rings for transmissions. It also provides piston rings used in the main engines for propulsion of large container vessels and seal rings for generator facilities and industrial equipment, piping products for lifelines, disaster prevention systems, and plants, metal injection molding products and heating elements/units for semiconductor equipment machines and other applications. Headquartered in Tokyo, Japan.

ABOUT Hastings Holding Corp:
Hastings is a manufacturer of piston rings for use in gas and diesel engines, as well as industrial compressor applications, across a broad range of end markets including automotive, truck, commercial, powersports, industrial, and marine. Hastings operates through two wholly-owned manufacturing entities, Hastings Manufacturing Company (located in Michigan, USA) and Piston Rings Komarov s.r.o. (located in Czech Republic). Hastings is founded in 1915 with headquarters in Hastings, Michigan.

About TrueNorth Capital Partners LLC:
TrueNorth provides advisory services to companies seeking advice for middle-market M&A and financing transactions. With offices in Stamford CT, Charleston SC, Central NJ, Minneapolis MN, Tokyo Japan, and London UK, TrueNorth is a boutique investment bank comprised of senior bankers providing a full complement of financial advisory services. Our focus on the middle-market enables us to provide independent, value-added advisory services to privately held middle-market companies, private equity and family office groups and corporate clients, both domestic and international, across a broad range of industries. TrueNorth conducts its securities related business through its wholly owned subsidiary, TNCP, LLC, member FINRA/SIPC.