Quadriga-backed Scio buys Bilfinger GreyLogix Aqua

The transaction is expected to be completed in December 2020 and is subject to competition authority approval.

The company will now operate as Vescon Aqua as part of the Scio Automation group. Scio has acquired all shares previously held by Bilfinger.

The acquisition is intended to expand Scio's customer portfolio, as well as to broaden its service offering in the process technology sector.

Quadriga acquired industrial technology companies Schiller and Vescon in December 2018 and merged them to form Scio. The GP secured debt financing from Permira and Commerzbank, as reported by Unquote sister publication Debtwire. The companies were expected to report revenues of €100m in 2018.

Scio acquired US-based market peer Industrial Automation and Germany-based Mojin Robotics in September 2020. Both deals were backed by an equity contribution from Quadriga, alongside debt financing, while the acquisition of GreyLogix Aqua has been financed solely via debt and balance sheet cash.

Unquote sister publication Mergermarket reported in September 2020 that Scio is continuing to seek add-ons, focusing on companies with revenues of €10-20m.

Company
Founded in 1998 and based in Flensburg, GreyLogix Aqua was acquired by Bilfinger in 2013. The company provides automation and programming services for drinking water and wastewater treatment plants, principally serving public sector businesses. The business employs 30 people.

People
Quadriga Capital Partners – Jörg Mugrauer (partner).
Scio Automation – Michael Goepfarth (director).

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