Possehl Digital Becomes a Strategic Partner of Croatian Company Mono

After celebrating 20 years in business, the Croatian IT company Mono, based in the city of Osijek, has crowned the anniversary with another great piece of news. Namely, as of this month, the German industrial and technological giant, the Possehl Group, or more precisely, their digital division, Possehl Digital, is becoming a strategic partner of Mono through an investment in a minority ownership stake.

For twenty years, Mono has been one of the strongest and most successful regional and national companies that primarily base its work on the development of customized software solutions. In addition to developing client products, Mono successfully develops several of its products, which they export to over 70 countries around the world. At a time when we hear more and more about upcoming crises, Mono decided to take a significant step forward to further secure its position in the market and achieve its long-term plans. The partnership with Possehl will allow them to conduct business more securely, open up to new markets and projects, and thereby create new job opportunities and improve the conditions of current employees.

The Possehl Group is a globally active technological group from Germany that today has more than 13,200 employees in over 200 companies from 30 countries around the world. Last year, they made a combined profit of €5.5 billion. In Croatia, it is present through several companies, the most well-known being Harburg-Freudenberger Belišće, a global leader in the production of machines for plastic and rubber. With a tradition of 175 years, the Possehl Group has an impressive history, and what sets them apart is the fact that the Possehl Foundation, which is focused on charity work and investing in the community and the city of Lübeck, which is their center, is the sole shareholder of the group.

The Group is divided into ten divisions, each of which operates completely independently. Mono will cooperate with the digital unit, Possehl Digital, which was established in 2021. Possehl Digital is Possehl's economically independent division which has set itself the goal of advancing the digital transformation from SMEs for SMEs by entering into or participating in partnerships with digital solutions along the main value chain or important support processes for industrial SMEs. Possehl is also known for their decentralized way of operating, which means that each company makes its own decisions following its previous work, goals, and market. By establishing this partnership, Mono will retain its autonomy in decision-making, which they consider extremely important for its long-term plans and operations.

What Mono emphasizes as the key factor for achieving this cooperation is the level of independence that Possehl supports and the complete freedom they give when creating and realizing the company's strategy. With this strategic partnership, Mono will get a boost in the form of financial support and long-term investment in its growth, as well as opening up new opportunities and possibilities by entering new markets.

“The way in which Possehl works, allowing for complete freedom in decision-making, retaining the existing workforce, culture, and the identity of the company they are investing in, as well as focusing on long-term investment and stable growth was the key factor in choosing our strategic partner. Although we had plenty of offers for a complete acquisition based on excellent results, where Mono would lose its identity and become an unrecognizable part of a larger system that did not fit into our vision of further development,“ said Denis Sušac, Mono CEO.

Numerous awards and recognitions, both, have recognized Mono’s work domestically and on the international stage. They have won five Golden Kuna awards, two Golden Balances, The European Business Awards, Deloitte's award for the 50 fastest-growing European companies, and this year were selected for the prestigious international EY Entrepreneur of the Year award. In their new building in the center of the newly established Osijek IT Park, they currently employ more than 160 people, but they do not plan to stop there. This is why Mono's management was looking for support in achieving their long-term plans.

"In addition to the above mentioned, the main reason for choosing Possehl is the opening of new markets and projects within their group (and beyond on EU markets), which for Mono as it is now - a small company (by global criteria) from the small city of Osijek - simply would not be possible. Both sides believe that there is a complete synergy between the knowledge and experience in the field of IT that Mono has, and the strength, capacity, and needs of the members of the Possehl group," added Sušac.

"I am very excited about our strategic partnership with Mono. Together, we want to take the digital transformation in the field of industrial medium-sized companies in Germany to the next level. We see tremendous synergies and have already started the collaboration between the two companies. For us, Mono is one of the most exciting software development companies in the market, with great prospects and opportunities. We are certain that this cooperation will lead to even greater success for both Mono and Possehl Digital," said Hermann Schäfer, Managing Director at Possehl Digital.

With the support that Mono will receive, they will be able to step outside of local frameworks, and with that, they expect even faster growth. New clients and new projects that they expect based on this partnership will enable them to expand in the form of opening new jobs, as well as improving existing working conditions. Sušac also stated that Mono shares several common values with Possehl, such as "focus on persistence and continuity in work, a stable and sustainable business management, long-term planning and flexibility in realizing those plans," and especially emphasizes their contribution to the community. "The Possehl Foundation is dedicated to the development of the local community in Lübeck as we are in Osijek. That's why this is good news for the community because, with Mono expecting accelerated growth, we will contribute even more to the local professional and educational community," concluded Sušac.