Press release

Equiteq advises Solidiance on their acquisition of Shanghai-based consulting firm Technomic Asia

October 18, 2018

July 2016

Equiteq, the consulting sector M&A specialist, is pleased to announce that its client Solidiance, an Asia-focused management consulting firm, has acquired a Shanghai-based business strategy and M&A advisory firm, Technomic Asia. Equiteq acted as exclusive financial adviser to Solidiance in relation to the transaction, which was completed on 12th July 2016.

Technomic Asia’s 30-year history makes it an icon in the business community across China and in particular, Shanghai. As one of the most reputable advisors to foreign entities seeking to do business in China, Technomic Asia boasts a loyal client base of Fortune 1000 and mid-sized firms, which complements the standard portfolio Solidiance has traditionally served.

Technomic Asia’s service offering of assisting client companies through incubation programs, brings expansion potential to Solidiance’s more traditional strategic advisory and PMO (Program Management Office) services, leveraging the trust developed from its clients who regularly seek support from Solidiance for its expertise and experience within Asia’s economic landscape.

Damien Duhamel, CEO of Solidiance, remarks: "This acquisition marks a great milestone for Solidiance. Solidiance’s dynamic growth trajectory in China, and indeed across Asia, is ideally complemented by the long-standing sustainability of Technomic Asia’s client base and its fantastic staff.  I believe the combination of Solidiance and Technomic Asia will make it the preferred go-to source for growth advisory and implementation support among international and local companies from Dubai to Shanghai". China has experienced tremendous growth in the last 25 years and is now transforming its economy. As stated by Heiko Bugs, the COO of Solidiance: “We are committed to supporting our clients on the ground in China and Asia with market-driven actionable advice. I am excited that the acquisition of Technomic Asia will further strengthen our industry know-how, our offerings and capabilities to serve our clients in the region”. Bugs also added: “We’ve been extremely pleased by the efficient and value-adding support provided by Equiteq in the completion of this transformational move.” Talking about the acquisition, Steve Ganster, the Managing Director of Technomic Asia described the movement as; “A combination of bringing together two leading Asia-based boutique strategy firms which share the same no-nonsense, street-smart approach to helping clients grow profitably”.

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©Equiteq 2016