LAVAL, FRANCE – French electronics contractor Cofidur has announced the acquisition of fellow French EMS Seico.

The acquisition will allow Cofidur to reach the milestone of €100 million in annual turnover for a workforce of more than 500 people, with Seico achieving a turnover of €15.7 million in 2023 for a workforce of around a hundred employees, Cofidur said in a release.

"For two years, we had been looking for and listening to opportunities," said chairman Laurent Dupoiron. "With Seico, we are already exceeding our targets, with sales expected to reach €100 million by the end of 2024. We already achieved 30% growth last year. And we think that by integrating Seico into Cofidur, one plus one should make two and a half."

Cofidur said the combination is complementary and adds new agility, thanks to Seico's capacity to quickly handle the development phases of prototypes, small series and test benches, while Cofidur is more accustomed to working with large clients and on complex processes.

"There are definite advantages to being a highly certified company like Cofidur and working with major clients. The downside is that we are less flexible for certain markets," said Dupoiron.

The acquisition also adds industrial capacity in France for Cofidur. In addition to its current facilities in Laval and Périgueux, the company now adds a Seico factory located in Malville, around thirty kilometers northwest of Nantes.