M&A Deal Summary

Ascendent Capital Partners Acquires Hollysys

On December 11, 2023, private equity firm Ascendent Capital Partners acquired information technology company Hollysys for 1.7B USD

Acquisition Highlights
  • This is Ascendent Capital Partners’ 2nd transaction in the Information Technology sector.
  • This is Ascendent Capital Partners’ largest (disclosed) transaction.
  • This is Ascendent Capital Partners’ 3rd transaction in China.

M&A Deal Summary
Date 2023-12-11
Target Hollysys
Sector Information Technology
Buyer(s) Ascendent Capital Partners
Deal Type Going Private
Deal Value 1.7B USD
Advisor(s) Deutsche Bank Corporate & Investment Banking (Financial)
Davis Polk & Wardwell
Mourant Group
Haiwen & Partners (Legal)

Target

Hollysys

Beijing, China
Hollysys is an automation control system solutions provider in China, with overseas operations in eight other countries and regions throughout Asia. The company empowers its customers with enhanced operational safety, reliability, efficiency, and intelligence that are critical to their businesses by leveraging its proprietary technology and deep industry know-how. It delivers a full spectrum of automation hardware, software, and services spanning field devices, control systems, enterprise manufacturing management, and cloud-based applications. In rail transportation, Hollysys provides advanced signaling control and SCADA (Supervisory Control and Data Acquisition) systems for high-speed rail and urban rail (including subways). Hollysys was founded in 1993 and is based in Beijing.

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Buyer(S) 1

Buyer

Ascendent Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ascendent Capital Partners is a private equity firm focused on acquiring and investing in China-related companies. The Firm looks to leverage its network and experience when working with and helping companies grow. Ascendant Capital Partners has offices in Shanghai and Hong Kong.

DEAL STATS #
Overall 4 of 4
Sector (Information Technology) 2 of 2
Type (Going Private) 2 of 2
Country (China) 3 of 3
Year (2023) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-25 Wumart

Beijing, China

Wumart operates a chain of 424 superstores and mini-mart outlets in Beijing, Tianjin, and the Zhejiang Province. Wumart was founded in 1994 and is based in Beijing, China.

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Legal