Chinese venture capital firm HongShan Capital Group (HSG) has received a loan of 475 million euros ($523 million) to finance the acquisition of Swedish audio equipment manufacturer Marshall Group AB. This is reported in a HongShan press release.
HSBC Holdings Plc, Standard Chartered Plc and UBS Group AG acted as bookrunners of the deal between HongShan, which manages assets worth more than $55 billion, and Marshall Group.
The loan provided by HongShan is divided into several tranches, including an urgent loan of 415 million euros and a revolving credit facility of 60 million euros. HongShan had previously negotiated with banks to raise a loan of $400 million to finance the Marshall deal.
In January 2025, HSG entered into an agreement to acquire a controlling stake in Marshall Group for 1.1 billion euros. The deal, which is HSG's largest investment in Europe at the moment, is subject to regulatory approval.
HSG (formerly Sequoia Capital China) is a Chinese investment company in the technology and consumer sectors, as well as in the healthcare sector. The company offers private equity and venture capital fund management services. Since its founding in 2005, the HSG foundation has supported more than 1,500 companies, including Alibaba Group Holdings Ltd., BYD Co. and ByteDance Ltd. The headquarters is located in Hong Kong.
Marshall Group is a Swedish manufacturer of audio equipment, music amplifiers and acoustic systems. The headquarters is located in Stockholm (Sweden).
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