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Tuesday, May 17, 2022

Siemer & Associates Acquired by Chinese Firm CEC Capital Group

CEC Capital Group has reached a deal to acquire Santa Monica’s Siemer & Associates, a boutique advisory firm specializing in the media and technology space.

Terms of the deal were not disclosed.

Founded by David Siemer in 2008, Siemer & Associates specializes in complex cross-border transactions involving U.S., European, and Asian companies. It has advised large strategic buyers such as Google, CBS, and Criteo.

The deal marks CEC Capital’s first endeavor outside of China, where it has offices in Beijing and Shanghai. Founded in 2000, CEC Capital’s client list includes Chinese conglomerates such as Tencent, Baidu, and LeEco Group, according to a statement.

CEC will use its new L.A. outpost to advise U.S. clients in the media, entertainment, technology, and health care sectors looking for cross-border mergers and acquisitions and private placement opportunities involving Chinese buyers and investors.

At the same time, CEC will lean on Siemer’s media and entertainment expertise to aid Chinese clients looking for assets in those industries, said Ran Wang, CEC founder and chief executive, in a statement.

“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,” said Wang.

David Siemer, who also founded Santa Monica venture capital firm Wavemaker Partners, will continue in his role as a registered principal. Dan Chen, managing director at Siemer, will serve as office head and chief liaison between CEC Capital’s U.S. and Chinese operations.

The deal is still subject to certain regulatory approvals.

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