Thursday, October 20, 2016
Siemer & Associates Acquired By Chinese Investment Bank
Santa Monica-based investment banking firm Siemer & Associates, which has focused on the technology and media sector, has been acquired by Chinese investor CEC Capital Group. Financial terms of the acquisition were not announced. CEC said it has entered into a definitive agreement to acquire 100% of Siemer & Associates. CEC Capital Group (formerly known as Chine eCapital) says it focuses on tech, media, telecom, consumer, and healthcare investments. Siemer & Assocaites was founded by David Siemer in 2008. CEC said the move will be its first expansion outside of China. CEC said it will set up an office location in Los Angeles, because Hollywood is "the epicenter of the US film and media industry". Siemer will remain with the firm, with Dan Chen now heading up the Los Angeles office for CEC. Chen has been involved with Siemer & Associates for a number of years, and also served at TPG Capital, Montgomery & Co., and Bank of America Merrill Lynch.