Industrials
Manufacturing continues to be a key economic growth driver across Asia. Asian manufacturers are increasingly using M&A to supplement their organic growth, diversify into new technologies and transform their business in the digital age.
Asian conglomerates are increasingly specializing, carving out and selling off non-core business lines to improve profitability and efficiency. Similarly, many multinational firms are streamlining their Asian operations focusing on sectors and geographies with defensible market share. This multi-faceted process has led to greater M&A opportunities and activity by both corporates and financial sponsors.

Simon Kavanagh
Partner, Head of Hong Kong, Head of Industrials

has been acquired by


2025

divested

to

2025

divested automotive audio manufacturing operations to


2025

sold

to

2024

divested stake in

to

2024

divested stake in

to

2024

formed strategic alliance with


2024

divested Doosan Power Systems India Private Limited to


2024

divested majority stake in

to

2024

divested Crefact to


2023

has acquired


2023

received investment from


2023

has been acquired by


2023

divested its European zipper division to


2023

a portfolio company of

has been sold to

2023

divested AGC Flat Glass to


2023

divested Niigata fab to


Sangyo Sosei and Fukuoka Capital
2022

divested Doosan Mecatec to a consortium of

and

2022

Ngoc Nghia has been acquired by


2022

a portfolio company of

has been acquired by

2022

divested Toshiba Transmission & Distribution Europe to


2022

acquired NEC Energy Solutions from


2022

divested ASG Print to

and

2021

Doosan Heavy Industries & Construction has divested Doosan Engineering & Construction to

a private equity consortium
2021

a portfolio of

has been acquired by

2021

a portfolio company of

has been acquired by

2021

divested India business to


2021

a portfolio company of

divested majority stake to

2021

divested 100% stake to a leading European water company
2021

divested 70% stake to


a subsidiary of Siam Cement
2021














