Deutsche Mittelstandsfinanz acted as the exclusive M&A advisor on the 100% sale of TOPAS electronic AG, Hanover, to the publicly traded Japanese company RYODEN Corp.

TOPAS distributes semiconductors, among others for the sectors of industrial equipment, telecommunications, medical, measurement and control technology in Europe and provides services in the field of Unified Communications. TOPAS was founded in 1978 and has been operating as a stock corporation since 2018.

RYODEN Corp., founded in 1947, is listed on the Prime Market of the Tokyo Stock Exchange. Anchor shareholder of Ryoden is Mitsubishi Electric Corp. with a 35.88% stake. With nearly 1,600 employees, RYODEN generated revenues of more than USD 1.4bn in 2025, primarily with products for factory automation systems, building cooling systems, information and communication technology, as well as electronic products, and is among the global market leaders in these segments.

With this transaction, RYODEN is expanding its business in the European market. Synergies will for example result from combining TOPAS’s customer base, sales network, and technical support with RYODEN’s procurement capabilities in Japan, Asia, and the United States. TOPAS will thus be able to introduce products and solutions distributed by RYODEN, as well as the group’s private-brand products, to its customers in the future.

Deutsche Mittelstandsfinanz conducted a global structured sales process, in which RYODEN prevailed as the most suitable acquirer.