MidEuropa backs Symfonia’s first international acquisition to build true Pan-European champion

January 10, 2024
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MidEuropa, the leading European private equity investor with deep roots in Central Europe, announces today the acquisition by its portfolio company Symfonia, a leading independent provider of accounting and payroll software solutions for Polish SMEs, of Softeh Plus, an ERP software provider in the Romanian Healthcare sector.

This transaction marks Symfonia’s first foray outside of Poland. Romania represents a strategic market for Symfonia, being the second-largest ERP market in the region and one that is undergoing rapid digitalisation. Softeh Plus’s expertise in healthcare and advanced ERP solutions, combined with its prominence in Romania’s thriving medical and pharmaceutical sector, positions it as a valuable  asset to support  Symfonia’s expansion efforts. This alignment with Symfonia’s vision of becoming the champion of ERP in the CEE region marks a pivotal moment in Symfonia’s journey towards regional dominance.

Symfonia, established over 25 years ago, has been a stalwart in the Polish IT landscape, serving over 40,000 SMEs with FMS/ERP/payroll software. Acquired by MidEuropa through a carve-out from Sage Group in March 2021, Symfonia has since undergone a transformational journey under MidEuropa’s ownership, including an operational and digital reshaping which has allowed it to enhance its cloud and SaaS capabilities and upgrade its organic growth profile. This led to a full transition from a corporate subsidiary to an independent premium software business with a resilient recurring revenue model. Through strategic add-ons and operational enhancements facilitated by MidEuropa, Symfonia’s growth trajectory has been accelerated, cementing its status as a pivotal player in the region’s IT sector.

MidEuropa strongly believes in the great potential that can be found in Central Europe to not only identify promising companies, but also grow these into true Pan-European champions.

Our commitment to driving value creation through bolt-on deals remains steadfast. With a track record of over 260 completed acquisitions to date, including 28 in the past year alone (and 38 over an 18-month period), across portfolio companies such as Symfonia, Regina Maria, and Diagnostyka, MidEuropa continues to leverage M&A as a key driver of growth and value creation for its portfolio companies.

MidEuropa is committed to continuing backing Symfonia and other Central European portfolio companies on their international expansion throughout 2024.