Afinum buys Garz & Fricke

Founders Manfred Garz and Matthias Fricke will retain a significant stake in the business and remain co-CEOs after the transaction.

Garz & Fricke is the ninth platform investment from Afinum's Siebte Beteiligungsgesellschaft, a buyout vehicle which closed on its hard-cap of €280m in April 2013.

The company reported a pre-tax profit of €3.8m from €28m in sales for 2016, and employs more than 100 people.

Afinum will support Garz & Fricke's growth into new markets, such as medical technology and security, through the expansion of the Hamburg headquarters' capabilities. It will also make strategic bolt-on acquisitions.

Company
Garz & Fricke was founded in 1992 and is based in Hamburg. It designs and manufactures systems for a range of different machines. It is the market leader in electronics for cigarette vending machines in the DACH region but it also designs systems for medical technology, industrial automation, traffic lights and energy meters.

People
Garz & Fricke – Manfred Garz, Matthias Fricke (co-founders).

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• Topics
• Buyouts
• DACH
• Industrials
• Germany
• Afinum