Technomic Asia has entered into a definitive agreement to be fully acquired by Solidiance, an Asia-focused management consulting firm with 12 offices in Asia. Together, the two firms plan on being bigger and better-positioned in delivering growth strategy advisory services to leading multinational companies in China and across the rest of Asia.
The company says a big portion of the deal is to combine Asia’s leading independent strategy firms together in providing a unique capability, based on Solidiance’s broad regional coverage and Technomic Asia’s 30-plus years in China characterized by the strength and market experience both teams have throughout the region. By signing the agreement, both parties claim they will cover virtually every major market sector through consulting assignments with hundreds of U.S., European and Asian clients.
“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 Fortune 1000 and Asian conglomerate companies from Dubai to Shanghai,” said Damien Duhamel, the CEO of Solidiance.
“This acquisition combines the two leading Asian-based boutique strategy firms,” said Steve Ganster, managing director of Technomic Asia. “We share the same no-nonsense, street-smart approach to helping our clients grow profitably. Together, we provide a unique and unparalleled capability characterized by the strength and experience of our senior staff, depth of industries covered and geographic breadth in Asia.”
“China has experienced tremendous growth in the past 25 years. Looking forward, China is again transforming its economy and our clients’ businesses with it,” said Heiko Bugs, chief operating officer at Solidiance. “We, as Solidiance, 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 offering and capabilities to serve our clients in the region.”
Pilar Dieter, a Shanghai-based partner at Solidiance who heads up its Greater China operations, added, “The goal of the newly combined entity would be to bring a broader Asian footprint of state-of-the-art services to Technomic Asia’s clientele who have grown accustomed to well-established processes and support in their China operations.”
With this agreement, both companies say they will now pursue a more extensive collaboration, offer a greater level of service to clients and provide a greater commitment to advancing client company value, throughout Greater China and the rest of the Asian region.
