CEC Capital Acquires S&A, a US Boutique Investment Bank, to Strengthen its Capabilities in Cross-Border Activities
BEIJING, CHINA AND LOS ANGELES, CALIFORNIA – October 17, 2016 – CEC Capital Group (formerly known as China eCapital), a leading private investment bank in China with a core focus on TMT (tech, media & telecom), consumer and healthcare industries, announced today that it has entered into a definitive agreement to acquire 100% of Siemer & Associates, LLC (“S&A”), a Santa Monica, California-based boutique advisory firm specializing in the media and technology space.
Founded by David Siemer in 2008, S&A specializes in complex cross-border transactions involving US, Europe and Asia. It has advised on numerous sales of media and tech companies to large strategic buyers such as Google, CBS, and Criteo.
The transaction represents CEC Capital's first endeavor outside of China, where it has offices in Beijing and Shanghai. Founded in 2000, CEC Capital is a premier private investment bank with a long client list that includes some of the most prominent corporate names in China such as Tencent, Baidu, and LeEco Group. In the first 6 months of this year, it raised more than US$3 billion for its capital raise clients worldwide.
With this acquisition, CEC Capital formally launches its US operation with a goal to introduce more China-based capital and strategic resources to US companies seeking to build partnerships or expand footprints in the fast growing markets in China. CEC Capital's US office will be located in Los Angeles and will focus on clients in the media, entertainment, technology and healthcare sectors looking for cross-border M&A and private placement opportunities involving China-based acquirors or investors.
David Siemer, founder of S&A, commented, “I am thrilled we were able to find a great partner in CEC Capital, and I am confident that, under CEC Capital's ownership, the business will continue to thrive. This is a natural progression of our firm's vision of advising media and tech companies across the globe that need cross-border M&A and capital raising services. I'm very proud of what we have built over the past 8 years, and look forward to seeing the new entity continue on a larger scale.”
Commenting on the transaction, Ran Wang, founder and CEO of CEC Capital Group, said, “We are seeing a remarkable acceleration of Chinese capital seeking investment opportunities overseas. Against this backdrop, this transaction will put us in a much stronger position to serve our clients in both China and the US amid this emerging wave of global capital movement. Our US office location in Los Angeles with Hollywood being the epicenter of the US film and media industry represents an important step in strengthening our coverage of high-quality US assets of interest to our Chinese clients.”
Mr. Siemer will continue in his role as a Registered Principal. Dan Chen will serve as office head and chief liaison between CEC Capital’s US and Chinese operations. He will also lead CEC Capital’s efforts to grow its media and technology practice in the US. Mr. Chen brings over 17 years of media and technology investment banking and private equity experience, having worked on transactions totaling over US$5 billion in value throughout his career. He has focused on the media and tech sector since the beginning of his career at Bank of America Merrill Lynch and at leading tech boutiques such as Montgomery & Co. He also brings expertise in cross-border US-Asia deals stemming from his experience at TPG Capital.
“We are delighted to be a part of the CEC Capital team,” said Mr. Chen. “We are excited about joining CEC’s platform at a time when a growing number of cross-border deals are occurring between China-based buyers or investors and media and tech companies here in the US. We believe we will be able to leverage CEC’s strong reputation, extensive platform and very deep access to the Chinese strategic and institutional investor community to attract clients in the US interested in accessing such capital.”
“We are excited to work closely with our US team to build a strong platform for cross-border transactions in the TMT, consumer and healthcare sectors,” said Ms. Irene Hong, a partner at CEC Capital Group who led the negotiations for the acquisition. “This expansion provides an opportunity for us to better serve our clients who will benefit from the deepened domain expertise, broadened networks and relationships, and enhanced execution capabilities that our US team brings to our platform,” she added.
In addition to the team and operations of S&A, CEC Capital will also inherit the Siemer Summit, a very well attended annual TMT conference that brings together over 1,000 business executives, entrepreneurs and institutional investors each year. Currently in its sixth year, the 2016 Siemer Summit will be held in Los Angeles on October 18-19. Going forward, CEC Capital expects to gradually rebrand the conference over time.
Separate from S&A, Mr. Siemer is also a founder and General Partner of Wavemaker Partners, an early stage venture fund with over 250 portfolio companies across four funds.
The transaction, which is pending approval by FINRA, is expected to close by the end of October 2016.
About CEC Capital Group
Founded in 2000, CEC Capital Group (formerly known as China eCapital Corporation) is a leading private investment bank in China with a core focus on the TMT, consumer and healthcare sectors. Headquartered in Beijing with offices in Shanghai and Los Angeles, the Company provides M&A, private placement, and asset management services to its clients both in and outside of China. In the first 6 months of this year, it raised more than US$3 billion for its capital raise clients worldwide. To ensure that clients receive the most comprehensive buy-side coverage, its ECM team has established close contact with over 3,000 institutional investors in China, ranging from large conglomerates and A-share listed companies to established financial institutions, asset management firms and government-backed funds.
For more information, please visit us at www.ceccapitalgroup.com.
About Siemer & Associates
Siemer & Associates is a global boutique merchant bank dedicated to offering candid insight and guidance to Digital Media, Software and Internet companies throughout their business life cycles. Comprised of industry veterans who have worked both inside and out of technology enterprises, S&A professionals have successfully completed more than 70 transactions throughout their careers that total over US$6 billion in sell-side mandates and surpass US$1.5 billion in equity capital. S&A offers exceptional corporate capital raising, financial advisory services and M&A, specializing in complex cross-border transactions. The Company has formed a joint venture with Right Click Capital, an investment firm in Sydney that specializes in identifying and investing in Australian high-growth early-stage Internet-based businesses in Sydney. The Company also hosts 20 networking events and conferences every year in various locations across the world.
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