Founded in 2011, following the acquisition of ANOVO's Montpellier industrial site from BUTLER CAPITAL PARTNERS, SOFI GROUPE specialises in multi-brand mobile phone refurbishment. The company operates across 3 complementary business areas: refurbishment, services & subcontracting, and R&D.
SOFI GROUPE has experienced strong growth in recent years, driven by its omnichannel distribution (B2C, B2B, retail, marketplaces), a unique expertise spanning all smartphone models and the entire refurbishment value chain, and a tailored technology developed in-house.
SOFI GROUPE obtained the Société à mission (purpose-driven company) status in 2021 and has established itself as a recognised leader in the CSR arena. This is embodied through its own brand of refurbished phones, "SMAAART", using a qualitative and transparent refurbishment process that reflects its environmental values and the short-circuit circular economy model it has adopted. This strategy is also aligned with customers’ increasing desire to limit their ecological footprint and opt for more socially and environmentally responsible products (buying a refurbished phone saves 83kg of CO2 emissions and 259kg of raw materials). SOFI GROUPE has created 89 jobs since 2017, with women representing 44% of its staff, and actively supports people with disabilities back into work.
With its hundred-strong workforce, SOFI GROUPE has recorded strong growth since 2017, with a threefold increase in revenue to over €20m and a stable, well-established profitability profile. In 2021, SOFI GROUPE refurbished more than 100,000 multi-brand smartphones (Apple, Samsung, Huawei, etc.) in a growing French market estimated at 3 million parts.
The acquisition of a majority stake in the group enables Econocom, a leading player in digital assets via its TMF entity, to address the growing market for refurbished smartphones and broaden its positioning to cover the entire life cycle of fixed and mobile IT equipment. SOFI GROUPE's industrial facilities and technical expertise will enable TMF to bring in-house and significantly increase the volumes of hardware refurbished to meet growing demand for these devices from both public and private organisations.
Under the guidance of ADVISO PARTNERS, the company's shareholder managers, QUADIA and the business angels involved in SOFI GROUPE equity have sold their majority stake to ECONOCOM. The deal enables the company to accelerate its growth strategy by enjoying ECONOCOM's industrial and commercial capabilities, while developing an area of expertise that is under-exploited in the company’s activity today: computer refurbishing.
Marlène TAURINES, CEO, and Jean-Christophe ESTOUDRE, Chairman of SOFI GROUPE: “We are proud that SOFI GROUPE is joining ECONOCOM, a group that shares our values, particularly in terms of social and environmental responsibility. This transaction marks a new phase in our company's development: the backing of ECONOCOM, a major European-scale group specialising in digital technology and transformation, will enable us to scale up our business in the coming years.”
Samira DRAOUA, CEO of ECONOCOM Technology Management and Financing: “We are delighted to welcome SOFI GROUPE and all its employees to ECONOCOM. Our Group’s financing business, led by TMF, is a pioneer in the development of product ranges with a positive environmental impact. This transaction aims to strengthen this leadership by providing TMF with excellent industrial capabilities and unique French know-how to enhance the value of our eco responsible ranges across the European market."
Luc VERNHET, Managing Partner at ADVISO PARTNERS: “This transaction is fully aligned with the activities of ADVISO PARTNERS’ M&A IMPACT division. We are therefore delighted to have supported SOFI GROUPE’s managers in their exceptional journey since acquiring the Montpellier industrial site in 2011. As a key player in its sector, SOFI GROUPE has built up its business under a circular economy approach, maximising the positive environmental impact of its operations while remaining committed to maintaining and creating jobs at the local level.”