Garz & Fricke Group now part of SECO


SECO, reference player in the field of Embedded Solutions, Internet of Things (IoT) and Artificial Intelligence solutions, listed on the STAR segment of the Italian Stock Exchange acquires, Garz & Fricke Group.

This will create Europe's leading provider for IoT and AI solutions in this area. As one of the most important system providers for ARM-based embedded technologies in Europe, with a very strong presence in German-speaking countries, as well as its additional presence in North America, the Garz & Fricke Group fits ideally into SECO's strategic approach.


The transaction is a central milestone in SECO's groups growth history and thus fulfills the defined strategic priorities. The acquisition is characterized by an excellent complementary portfolio and significant synergy potentials and is directly beneficial for the customers of both companies. SECO thus reinforces its presence in the German-speaking market (DACH) and plans to expand the offering of its IoT, AI and edge solutions in this market. A key role will be played by the pioneering IoT-AI-SasS solution called CLEA. Both companies will benefit from a perfectly complementary business model and an even more complete product offering in all key areas.

Massimo Mauri, CEO of SECO, commented: "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.”

Stefan Heczko, CEO of G&F Group, commented: “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.”

In 2017, Afinum, one of the leading medium-sized investment companies in the German-speaking region, had joined the Hamburg-based Embedded HMI specialist Garz & Fricke. In the following years, the Garz & Fricke Group was formed through the acquisitions of the application and platform developer e-GITS GmbH, in 2019, and the processor module specialist Keith & Koep GmbH in 2020.

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.

Go back