Quadriga’s Scio bolts on MFI

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

The acquisition aims to expand Scio’s product portfolio in intralogistics and proprietary warehouse management software, according to a statement.

The acquisition is the fourth in a series of recent add-ons for the company but its fifth add-on in total during Quadriga's investment period. Unquote sister publication Mergermarket reported in September 2020 that Scio is focusing its strategy on targets with revenues of €10-20m. Scio acquired Vescon Aqua from Bilfinger in November 2020, as reported.

Quadriga acquired industrial technology businesses Schiller and Vescon in December 2018, merging the companies to establish Scio. The buyout was backed by debt from Permira and Commerzbank, as reported by Unquote sister publication Debtwire.

Company
MFI is an electrical engineering business that develops logistics software and robotics systems for industrial automation. Its technologies include shelving and stacking software, as well as systems for conveying goods in factory settings. Founded in 1994, the company is based in Benningen, with four additional sites in Germany. MFI employs 100 people. According to its latest publicly available accounts, the company reported revenues of €16.4m in 2018, a decrease of 8.2% compared with 2017. However, the company predicted its 2019 revenues to be €17.7m.

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

Advisers
Acquirer – Imap, Karl Fesenmeyer, Philipp Noack, Carl-Benedict Schmucker (corporate finance).

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• Topics
• Portfolio management
• DACH
• Industrials
• Build-up
• Germany
• Quadriga Capital