© Garz Fricke Embedded | October 26, 2021
Italian embedded specialist acquires Germany's Garz & Fricke
SECO S.p.A., a player in the field of embedded solutions, IoT and AI solutions, is acquiring Hamburg based Garz & Fricke Group.
The acquisition of Garz & Fricke Group is described to be of strategic importance to SECO, as the company will be able to take advantage of Garz & Fricke's strong presence in the German-speaking countries, as well as its additional presence in North America, a press release reads. The transaction is a milestone in SECO's groups growth history and thus fulfills the defined strategic priorities. The acquisition is characterised by a complementary portfolio and significant synergy potentials. SECO reinforces its presence in the German-speaking market (DACH) via the transaction and plans to expand the offering of its IoT, AI and edge solutions on this market. "The acquisition of Garz & Fricke Group is a landmark moment for SECO’s growth project and a unique opportunity to continue to create value for our shareholders and customers, in line with the strategy we outlined to the market earlier this year during the IPO process. We see the acquisition of Garz & Fricke Group as a key milestone to strengthen our European and Global leadership position, reinforcing our strategic access to a key market like Germany and further accelerating the adoption of CLEA on an enlarged customer basis, as well as adding key competences and technologies to our product portfolio in order to continue to deliver the highest standards of quality and service to our customers. Finally, we look forward to welcoming the management team and all the people of Garz & Fricke Group into our organisation and to make them an integral part of our project,” says Massimo Mauri, CEO of SECO, in the press release Stefan Heczko, CEO of G&F Group, adds: “This combination is an ideal strategic fit and will allow our customers to benefit from the development of a wider product offering and improved operations, integrating existing Garz & Fricke Group solutions into SECO technological and operational platform. Both SECO and Garz & Fricke Group are best-in-class players in the field of HMI/Edge solutions as well as leading developers of Industrial IoT systems. We are delighted to be part of this new journey and to contribute to further accelerate SECO’s growth trajectory.”
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