Turquoise International (“Turquoise”) is pleased to announce that Zhejiang Jiecang Linear Motion Technology (“Jiecang”) has agreed to acquire Logicdata Elektronik and Software Entwicklungs GmbH (“Logicdata”). Turquoise acted as financial adviser to Jiecang which acquired 100% of Logicdata for €79.18m.
This merger will create a leading worldwide linear motion components and systems supplier with annual revenue of over $350m and more than 2,500 employees worldwide. As a part of the transaction, Jiecang will invest €20m into Logicdata’s product innovation and future growth.
David Wright, Turquoise China Director, said: “It was a pleasure to work with Jiecang’s executive team to implement this acquisition. It is a highly strategic move for both parties and one that places the combined entity in an ideal position for the future.”
Jiecang is a supplier of components for home and office furniture. Founded in 2000, the company is listed on the Shanghai stock exchange and currently operates from production and R&D bases across Asia, Europe and North America.
Logicdata is a supplier of premium control units and drive systems for electrically height adjustable furniture. The company was founded in 1997 and is headquartered in Deutschlandsberg, Austria.
Turquoise is a London-based investment bank specializing in industrial and clean technology. Turquoise offers in-depth industry knowledge in M&A, capital raising and investment management.