SARMIS Capital has announced the acquisition of Total Technologies, one of the most prominent Honeywell technology integrators for industrial automation in Central and Eastern Europe. The acquisition is done through Smart ID Technology, a SARMIS Capital portfolio company, strengthening its ability to deliver complex technological solutions in retail, manufacturing, delivery, logistics, and distribution. This is the second transaction made by Smart ID following the purchase in 2022 of the Romanian leader in ERP software, Sceptrum. Completing the current transaction is subject to approval by the Competition Council.
The transaction marks a significant step in SARMIS Capital’s strategy to support the growth of its portfolio companies. The synergies between Smart ID and Total Technologies will drive the formation of an integrated structure, bringing together over 180 highly skilled specialists capable of delivering innovative and customized solutions. The combined turnover will exceed €35 million.
“Joining SARMIS Capital and Smart ID Technology’s strategic vision represents a natural and well-founded step”, said Giani Iancu, CEO and shareholder of Total Technologies. “This transaction creates opportunities to expand our capabilities and deliver innovative solutions to our clients.”
“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. “This is an important milestone in our development strategy, and we are pleased to be able to rely on the Total Technologies team, that will remain alongside us. 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.”
“The acquisition of Total Technologies represents an important step in our strategy to build a leader in the market for automation and data capture solutions,” said Cezar Scarlat, Managing Partner at SARMIS Capital. “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 €20 – 30 million. We are confident that the partnership between Smart ID and Total Technologies will create significant value for the clients and employees of the companies in our portfolio while counting on the support of blue-chip partner vendors. We are also pleased that Giani Iancu will remain with us, with his role expanding to the Board of Directors level in the new consolidated structure. Moreover, through the jointly designed partnership structure, we feel strongly aligned in our vision for a shared future.”
