Equiteq advises Alten on its first Korean acquisition, AP Solutions, a local leader in technology and engineering services
September 17, 2020
SINGAPORE, Sept. 17, 2020 /PRNewswire/ — Equiteq is pleased to announce it has supported Alten, a global leader in technology and engineering consulting in the penetration of the Korean market, through the identification and acquisitions of AP Solutions.
Founded in 1988, Alten has grown to become a pioneer in innovation, R&D and technological information systems. With more than 37,000 qualified engineers across 25 countries, Alten is listed in the Euronext Paris stock exchange. Strong in Europe and in the US, Alten has successfully developed its business in Asia through successful acquisitions in Japan, China and India. Korea appeared to be the next market given its maturity and leadership position in the automotive sector globally.
AP Solutions was founded in Korea in 1999, and has grown to become a leader in automotive engineering & professional solutions with a team of 350 people split across its two main offices in Korea, with additional presence in China. Key expertise lies in the automotive, aviation and railway industry.
Pascal Amore, Alten Executive Vice President in charge of Asia, commented “The acquisition of APS is aligned with Alten’s long term strategy to substantially grow its R&D engineering capabilities in Asia, maintaining top positioning in Technology Consulting and Engineering. This acquisition marks Alten’s entry into one of world’s most advanced worldwide economy and will provide Alten an opportunity to leverage its technical expertise in segments such as Aerospace, Defense, Automotive and Digital for domestic Korea market, but also supporting key Korean players across the globe”.
Regarding Equiteq’s role, Pascal added, “Equiteq was critical to the success of this transaction. From the initial market scanning and identification of targets, communication, and negotiations between APS and Alten throughout the process, up to the successful closing of the deal. Equiteq helped bridge the culture gap thanks to its combined M&A expertise and understanding of the local market.”
Sylvaine Masson, Director at Equiteq Asia-Pacific, commented: “It’s been a real pleasure working with Alten throughout this journey. Having completed several acquisitions in the past, Alten managed to create a very professional and efficient team to support this deal, combining the right level of professionalism and M&A expertise, with strong business understanding and strategic drive. I am sure that this acquisition will boost their development and international expansion, and marks the beginning of a very successful journey in Korea.”