YCP Group And Solidiance Merge To Become YCP Solidiance

YCP Group (YCP), a Hong Kong-headquarted corporate advisory and private equity firm, has joined forces with Solidiance, an Asia-focused strategy consulting firm. Effective today, March 1, both firms will operate under the umbrella of one name, YCP Solidiance.

“The new name – YCP Solidiance – most effectively reflects the combined and unique identities of the two entities, while minimizing potential confusion from the changes, and leveraging the brand equity of the two legacy company names. This merger combines the strengths and competencies from both companies and their amazing teams to provide a wider spectrum of high impact advisory services to a larger client base,” said Damien Duhamel, CEO and managing partner of Solidiance – who now leads YCP Solidiance’s management consulting service worldwide.

The strategic decision of this merger was born out of the ambition of both firms to become the leading professional services and advisory firm in Asia, and to capitalize on the promising growth of the consulting industry in Asia, which is projected to exceed $50 billion.

“YCP is a relatively young but high growth company in pursuit of an enormous opportunity ahead of us. Our professionals are the cornerstone of our success and this is a strategic opportunity for us to add the footprint, talent, experience, and the services of the Solidiance team,” said Yuki Ishida, group CEO of YCP Group.

The newly merged YCP Solidiance says it aims to better engage with Fortune 1000 Asian conglomerates, as well as small-medium sized business partners and clients with services including business turnaround support, market research, market strategy, business incubation, expansion, product development and launch, M&A strategy and support, market entry, digital transformation and more.

The two companies say this merger further solidifies the already strong position of both companies, giving YCP Solidiance a wider footprint across 20 key Asia markets and beyond, namely Abu Dhabi, Bangkok, Beijing, Beirut, Dubai, Ho Chi Minh City, Hong Kong, Jakarta, Kuala Lumpur, Manila, New Delhi, Shanghai, Singapore, Sydney, Taipei, Tokyo, and Yangon, as well as client relation offices in Europe (Berlin) and United States (San Diego).

To learn more, visit the company’s new website ycpsolidiance.com.

Standard Motor Products, Inc. reported its consolidated financial results for the three months ended March 31, 2024.

Net sales for the first quarter of 2024 were $331.4 million, compared to consolidated net sales of $328.0 million during the comparable quarter in 2023, the company said. Earnings from continuing operations for the first quarter of 2024 were $9.9 million or $0.44 per diluted share, compared to $12.7 million or $0.57 per diluted share in the first quarter of 2023. Excluding non-operational gains and losses identified on the attached reconciliation of GAAP and non-GAAP measures, earnings from continuing operations for the first quarter of 2024 were $10.0 million or $0.45 per diluted share, compared to $13.4 million or $0.61 per diluted share in the first quarter of 2023.