InterChina Partners, the leading mid-market investment banking advisor based in China, is pleased to announce the acquisition of QHD Visual Automation Equipment Co., Ltd (“Visual Automation Equipment”) by Mondragon Assembly. The transaction was completed on January 25^th, 2022.

Mondragon Assembly is an international group specialist in the development of automation and assembly solutions. Mondragon Assembly belongs to the Mondragon Corporation, one of the most important business groups in Europe. Established in 1954 and headquartered in Spain, this constantly expanding group includes over 280 companies employing 81,000 people. Mondragon Assembly has three main business: Solar, E-Mobility & Energy Storage and Automation. It has developed over 1000 projects and offered solutions for global customers through six production plants and three technical and sale offices.

QHD Visual Automation Equipment Co., Ltd is a high-tech enterprise dedicated to the research and development, design and manufacture of automation equipment and visual inspection systems. Visual Automation Equipment is located in Qinghuangdao city, China and is one of the emerging local premium players. The company has strong R&D capability and good local customer base mainly in solar photovoltaic, glass and ceramics industries.

Mondragon Assembly and Visual Automation Equipment have been long term business partners. This acquisition will further strengthen their cooperation and provide a win-win outcome for both parties. Through this transaction, Mondragon Assembly will further enhance its presence in Chinese market, enabling a China for China platform for growth, by accessing local manufacturing, R&D, competitive product portfolios and commercial channels and clients; Visual Automation Equipment will be able to enter overseas market via Mondragon Assembly’s international sales network.

“The acquisition of QHD Visual Automation Equipment Co., Ltd is part of our strategy for our automation solutions business to increase our market share and take a leading position and relevant scale in China. We are looking forward to welcoming QHD Visual Automation Equipment Co., Ltd to join with Mondragon Assembly generating mutual growth opportunities in the global market”, says Mikel Gantxegi, Mondragon Assembly group CEO.

InterChina’s deal team includes Jan Borgonjon, President, Huang Qingbo, Partner, and Delia Zhang, Director.

“We see clear synergies between Mondragon Assembly and Visual Automation Equipment. We are very pleased to have been able to facilitate this important transaction that will enhance the competitive position in China and globally for Mondragon Assembly.” said Mr. Borgonjon.

InterChina served as Mondragon Assembly’s advisor and provided a comprehensive suite of transaction advice including: full buy side services, target evaluation, negotiation of initial terms, valuation and deal structuring design, due diligence coordination, negotiations of key terms and definitive agreements, overall transaction process management and closing support.