Quadriga's Scio Automation bolts on Mojin Robotics

Quadriga acquired Schiller and Vescon in December 2018, merging them to form Scio. The GP subsequently secured debt financing from Permira and Commerzbank, as reported by Unquote sister publication Debtwire.

The add-on is the second deal to be announced by Scio in September 2020; it previously acquired US-based market peer Industrial Automation, enabling the company to expand to the North American market.

Both deals were backed by an equity contribution from Quadriga, alongside debt financing.

Unquote sister publication Mergermarket reported in September 2020 that Scio is currently seeking further add-ons, generally targeting companies with revenues of €10-20m.

Company
Founded in 2015 as a spin-out from the Fraunhofer Institute for Manufacturing Engineering and Automation IPA, Mojin initially produced robot for use in consumer applications, such as sales and concierge assistance. The company has subsequently developed an autonomous logistics and picking technology called Luka, based on its initial product. The technology aims to improve internal supply chain efficiency and increase productivity. Mojin is based in Leinfelden-Echterdingen and employs 11 staff.

People
Quardiga Capital – Jörg Mugrauer (partner).
Scio Automation – Michael Goepfarth (CEO).
Mojin Robotics – Ulrich Reiser (CEO).

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• Topics
• Expansion
• DACH
• Industrials
• Build-up
• Acquisition finance
• Germany
• Quadriga Capital