Press Release
October 27, 2021

Garz & Fricke Group Acquired by SECO

The Frankfurt team advised the management as co-investors of Garz & Fricke Holding GmbH, in the sale of their stake in Garz & Fricke to (and re-investment into) Italian listed company SECO S.p.A. The total value of the transaction was EUR 180 million. With the transaction, SECO S.p.A. acquires the 100% of the share capital of Garz & Fricke Holding GmbH, through AF HMI Holding, ultimately held by Afinum Siebte Beteiligungsgesellschaft mbH & Co. KG, advised by Afinum Management GmbH, and other minority shareholders as jointly owners of 100% of the share capital of the company. 

Garz & Fricke Holding is a German manufacturer and developer of hardware and software solutions for IoT, based in Hamburg.  

The Goodwin team was led by Markus Käpplinger and Bastian Schmack.

For additional details on the transaction, please read the press release.