Romanian equity fund SARMIS capital announces acquisition of Total Technologies
<p>Private equity fund SARMIS Capital, focused on Romania and the CEE region, announced the acquisition of Total Technologies, one of the most prominent Honeywell technology integrators for industrial automation in Central and Eastern Europe. </p>
<p>The acquisition is carried out through Smart ID Technology, a SARMIS Capital portfolio company. It is meant to consolidate its ability to deliver complex technological solutions in retail, manufacturing, delivery, logistics, and distribution.</p>
<p>This is the second transaction made by Smart ID following the purchase in 2022 of the Romanian leader in ERP software, Sceptrum. </p>
<p>“With the support of SARMIS Capital and through the integration of Total Technologies, we are strengthening our position as a regional independent leader and diversifying the range of solutions we offer to our clients,” added Daniel Boangiu, CEO and founder of Smart ID.</p>
<p>“This is an important milestone in our development strategy, and we are pleased to be able to rely on the Total Technologies team, which will remain alongside us. [Former CEO] Giani Iancu will continue to play a supervisory role and actively contribute both operationally and strategically, strengthening long-term relationships based on trust and mutual respect with Total Technologies’ clients and suppliers,” he added.</p>
<p>The transaction, subject to approval by the Competition Council, marks a significant step in SARMIS Capital’s strategy to support the growth of its portfolio companies, according to the press release. Combined, Smart ID and Total Technologies will have over 180 highly skilled specialists and a turnover of over EUR 35 million.</p>
<p>“This transaction marks an essential development in an extensive series of acquisitions to support inorganic growth in the CEE region, for which we have allocated a budget of EUR 20 - 30 million,” said Cezar Scarlat, Managing Partner at SARMIS Capital.</p>
<p><em>radu@romania-insider,com</em></p>
<p><em>(Photo source: Sarmiscapital.com)</em></p>