Manfred Garz, one of two founders and managing director of the Garz & Fricke Group, Hamburg, will step down from the management of the company as planned at the end of April. He will be succeeded by an experienced manager of an international technology company. For legal reasons, the name cannot yet be disclosed.
Together with Matthias Fricke, Manfred Garz founded the Garz & Fricke GmbH in 1992 and developed it into one of the most important system providers for ARM-based embedded systems in Europe. These combined systems of hardware and software are among the most important components in technical devices. They are used, for example, in medical technology, catering electronics, security technology, and industrial automation.
In 2017, Afinum, one of the leading medium-sized investment companies in the German-speaking world, invested in the Hamburg-based company. "In the course of the share acquisition, we agreed with Manfred Garz that he would guide the company to the next level for another three years together with Matthias Fricke and then hand off to his successor as planned," says Kai Roolf, a partner at Afinum.
"Garz & Fricke is very well positioned today," says Manfred Garz. "After the successful establishment of the group, several acquisitions, and important strategic decisions for the future, I am now clearing the way for a growth expert for medium-sized companies. As a business angel, I will take care of the development of my young technology investments. Here I have many ideas and can pass on my experience in the successful development of technology-driven companies.” Manfred Garz will continue to hold a stake in Garz & Fricke and will be available to the company in an advisory capacity.
In March 2019, Garz & Fricke acquired the Stuttgart-based e-GITS, thereby strengthening its software competence. In January 2020 Keith & Koep, a specialist for compact plug-in computer modules, became part of the Garz & Fricke Group. The group, which is headquartered in Hamburg and has locations in Wuppertal, Stuttgart, the US city of Minneapolis, and Chennai in India, thus grew to 180 employees. Also in 2019, the company moved its production and administration into a state-of-the-art new building in Hamburg-Harburg.
"I would like to thank Manfred Garz for the intensive and successful time we spent together," says Matthias Fricke, who remains on board as Managing Director. "Impressive things have come about. This must now be continued with our new managing director. We have attained a scale that enables us to also address new, larger customers worldwide. We will press ahead with the integration of the companies, expand the product range, and strengthen our international marketing."