SARMIS Capital, a private equity fund dedicated to Romania and neighbouring countries, acquired the majority stake in Smart ID Dynamics, a Romanian automation company. SARMIS is partnering with Mr. Daniel Boangiu, the CEO and co-founder of the company, and with Romeo Iacob, co-founder and Board Advisor, aiming to further consolidate SMART ID’s market position and expand internationally.
Smart ID specializes in providing highly customized end–to–end automation solutions for intensive business environments, primarily to customers in industries such as retail, logistics and manufacturing, with the purpose of optimising costs and increasing productivity. The company has a proven track record of delivering mission–critical, proprietary, tailored solutions across the value chain, from solution design & development to implementation and post–implementation maintenance & support. Despite a global challenging environment, the company managed over 20% growth in 2021.
The company was founded in 2010 by two technology passionate entrepreneurs, Daniel Boangiu and Romeo Iacob. During its 11 years of activity, Smart ID services have been successfully delivered to more than 3,000 clients in more than 250 completed projects and currently the company serves an impressive portfolio that includes blue–chip multinational companies, large Romanian companies, as well as numerous SMEs.
Cezar Scarlat, Managing Partner and co–founder of SARMIS Capital, said: “We firmly believe in the impact that technology, through automation and digitalisation, will have in the region’s economic growth and future. Smart ID garnered our attention and convinced us with its strong results, being not just a software integrator but an end–to–end Romanian independent solutions provider, with an ambitious and excellent technical management and execution teams. We envision multiple avenues through which we can tangibly contribute to the company’s expansion. Through the new partnership, Smart ID will fully benefit from Sarmis’ strategic expertise and financial power, having at its disposal EUR 20–30m for organic growth and acquisitions.”
Daniel Boangiu, CEO and co–founder of Smart ID, said: “We are honoured we earned the trust of SARMIS Capital. We believe this deal will make us a formidable player at both local and regional levels. Our responsibility from now on is to make the deal create unmatched value for the company, by adding to the resources that helped us to become one of the most important companies in the industries we are targeting and to our most important asset – our people, a unique combination of experts, new capabilities, new technologies, better processes and, most of all, better solutions for our existing and future customers.
This deal helps us to keep our purpose alive, and to become more powerful and more focused, as to build a promising future for our customers, our employees, our Partners, investors and our communities. We expect to bring innovation, embedded expertise, technologies of the future and financial power to keep growing and improving, providing a better life and better possibilities. With all these in place we will build the strongest regional player.”
Following this deal, Daniel Boangiu will remain an important shareholder and continue to act as the CEO of Smart ID, with full responsibilities regarding the company’s strategy execution.
Smart ID is the second investment made by SARMIS Capital in Romania, after the recent acquisition of a majority stake in Corporate Office Solutions – COS (leading provider of custom fit–out services).