Chinese firm acquires US luxury design company

Shanghai Xian Dai Architectural Design Group (Xian Dai), a leading Chinese architectural and engineering design firm, announced on Tuesday that it has acquired American luxury design firm Wilson Associates. Xian Dai completed the transaction through its affiliated company based in the Shanghai Free Trade Zone, a pilot zone for China's financial reforms that was established in September last year. It was the first cross-border acquisition deal in the zone. "The alignment with Wilson Associates will strengthen our international footprint," said Qin Yun, chairman of Xian Dai. Xian Dai, established in 1952, has been included in the "Top 150 Global Design Firms" list published by American magazine "Engineering News Record," widely referred to as the Bible of the construction industry. It was ranked 64th by the magazine in 2012. Wilson Associates, founded in 1971, is consistently ranked as one of the top firms in the hospitality design industry worldwide.