Symfonia

MidEuropa led the carve-out of Symfonia, a leader in ERP and payroll software solutions for Polish SMEs, from its parent the Sage Group in 2021. MidEuropa had been actively monitoring the enterprise software space in Poland for several years to act on the right opportunity in this attractive, resilient and growing sector. 

Symfonia is a well-recognised brand and a leader in business ERP and payroll software solutions for SMEs in Poland. It offers business-critical FMS/ERP/Payroll/HCM software to a diversified and loyal customer base of over 40,000 SMEs. The Company’s ergonomic and reliable products are tailored to local needs and regulatory reporting requirements. Symfonia recently transitioned from a licensing model to a subscription model, and is currently at the forefront of the shift to the cloud.

Having started the intricate carve-out process at the beginning of March 2021, Symfonia’s leadership team has been managing three main workstreams to date: the carve-out and separation from Sage, involving multiple systems and agreements; the day-to-day running of the business; and planning for the future and executing the value creation plan. The efforts led to five strategic add-on acquisitions during the partnership: HRTec, Reset2, Cloud Planet and eDokumenty and Romania-based Softeh – Symfonia’s first international acquisition. These enabled Symfonia to acquire new technology, consolidate existing market segments and also expand into new ones.

Partnership highlights:

• Successful carve-out from Sage in 2021
• Acquisition of five bolt-ons, Reset2 and Cloud Planet, in 2021, HRTec in 2022 and eDokumenty and Softeh in 2023
• Recurring revenue at around 90%

Value creation:

• Acquisitive Growth
• Operational Excellence
• Organic Growth Acceleration