SECO S.p.A. (BIT:IOT) agreed to acquire Garz & Fricke Holding GmbH from AFINUM Siebte Beteiligungsgesellschaft mbH & Co. KG, managed by Afinum Management GmbH, Manfred Garz, Matthias Fricke, Stefan Heczko and others for ?180 million on October 11, 2021. The terms of the agreement envisage a total consideration of ?180 million on a cash-free and debt-free basis. The total consideration amounts to ?180 million and comprises a cash consideration of ?165 million and ?15 million newly issued SECO shares. SECO will issue 2.6 million shares. SECO will correspond to Garz & Fricke Group existing shareholders a ?165 million cash consideration to be funded through a mix of new acquisition financing facilities and cash on hand. Intesa Sanpaolo SpA and Unicredit SpA have arranged the financing acting as Co-underwriters and Bookrunners. BancoBPM SpA and Gruppo BNP-Paribas joined as Mandate Lead Arrangers. With the Financing Agreement, SECO intends to fund a portion of the price that will be paid to the Sellers and to refinance the debt of Garz & Fricke Group at closing. The transaction is expected to be EPS accretive in the first full year after acquisition, before synergies. In connection with the transaction, SECO was advised by Goldman Sachs (M&A advisor), White&Case (legal advisor Milan and Frankfurt), PwC (financial & tax due diligence) and Deloitte (commercial due diligence and integration plan advisor). The Sellers were advised by Martina Ecker, Markus Rosen, Simon Fischer, Daniel Quast, Gerrit Schuette, David Oesterschlink and Andreas Haselbach of goetzpartners (Financial advisor and Due diligence provider) and Oaklins (M&A advisors), CMS (legal advisor), and KPMG (financial & tax due diligence).