SECO S.p.A. has executed a definitive agreement to acquire the entire share capital of Garz & Fricke Holding GmbH from Afinum and minority shareholders. The transaction is structured with a total consideration funded through a mix of new medium-long term debt facilities, cash on balance, and newly issued equity subject to staggered lock-up periods. From a strategic perspective, this combination represents a highly synergistic platform investment designed to establish the largest listed pan-European champion in the edge computing industry. The strategic rationale is underpinned by a unique geographic and product fit, enabling the acquirer to significantly reinforce its presence in the highly attractive DACH region while diversifying its end-market exposure across resilient verticals such as professional kitchen equipment and MedTech. Furthermore, the transaction unlocks substantial cross-selling opportunities, primarily through the accelerated deployment of proprietary IoT-AI platforms across the target's extensive annual production of over 200,000 edge devices.

GARZ & FRICKE GROUP, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the average currently observed in the TMT (Tech, Media, Telecom) sector (12.8x).

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