With Seico, electronic board manufacturer Cofidur EMS will manage three modernized plants

Following its acquisition of Seico in July, electronic subcontractor Cofidur EMS is opening new doors to markets such as prototyping, small production runs, and more. The company is also preparing to welcome new clients—especially once renovations are completed across its three French sites.

The acquisition, first announced in April, was officially finalized in early July 2024. Cofidur EMS took over another electronics subcontractor, Seico, based in Malville (Loire-Atlantique), near Nantes. Founded in 1981, the SME, with 100 employees, generated €15.7 million in revenue in 2023. The deal brings the total workforce of the Laval-based group to 500 people.

Ambitions Already Surpassed

While Seico’s former CEO, Eric Lamboley, was seeking to sell the company ahead of his retirement, the leadership team at Cofidur EMS seized the opportunity. When the seven managing executives acquired Cofidur EMS in July 2021, they had announced plans for sustained organic growth, aiming for €80 million in revenue by 2025.
“That plan also involved external growth,” explains Cofidur EMS President Laurent Dupoiron. “For two years, we were actively looking for opportunities. With Seico, we’ve already exceeded our targets—we expect to reach €100 million in revenue by the end of 2024. We had already seen 30% growth last year. By integrating Seico into Cofidur, one plus one could well equal two and a half.”

From Prototyping to Major Accounts

The relevance of the acquisition lies in its complementarity at every level.
“There are clear advantages to being a highly certified company like Cofidur and working with large contractors,” continues Laurent Dupoiron. “The downside is we’re less flexible for certain markets. Seico, on the other hand, is highly responsive for making prototypes, developing innovation kits—for startups, for example—and producing small batches. That could allow us to bring back Cofidur clients who currently work with other companies at the early stages of their projects before ordering from us. With Seico, we’ll be able to offer the most complete service possible—from design to industrialization.”

Preserving Seico’s Agility

“It’s also to preserve this expertise and agility that we assured Seico’s teams there would be no changes to staffing or internal operations,” adds Gilles Delaunay, HR Director of Cofidur EMS. The Malville plant will be headed by Hervé Olry, another partner-executive in the group and Director of Upstream Operations and Industrial Partnerships. The geographical proximity between the group’s Laval HQ and the Malville factory will help support the new teams and facilitate the integration process.
“The downside,” notes the president, “is that now we’ll both be prospecting in the same territory…”

Three Plants, Three Major Projects

Cofidur EMS now operates three plants: Laval, Malville (near Nantes), and Périgueux (Dordogne). Each site is currently undergoing significant investment. Even before its acquisition, Seico had launched a major industrial project: after purchasing a neighboring 10,000 m² lot, it expanded its facility by over 2,000 m², investing €5 million in infrastructure and machines capable of placing 30,000 electronic components per hour.
As Seico’s former president Eric Lamboley explained in 2023: “The goal is to meet the demand of current and future customers.”

Laval to Reclaim Its Full Surface Area

At the 30,000 m² Laval plant, demolition of the section damaged by a March 2023 fire has just been completed.
“We should begin reconstruction in the fall, with work lasting about six months. This section will be reserved for prospecting,” says Gilles Delaunay. “In a new air-conditioned building, we’ll be able to tell clients: ‘Here’s what we can adapt for your production needs.’”
One new client is already employing about twenty workers at the site: startup Qiara, which manufactures all its connected home security devices (except cameras) in Laval.
“In the long run, it could represent a good volume,” foresees Delaunay.

Growth Outlook for Périgueux Site

The Périgueux site mainly serves military and aerospace markets and is expected to benefit from favorable conditions in the coming years.
“Airbus has announced a more than 50% increase in orders over the next ten years,” notes Laurent Dupoiron. As a tier-2 supplier, Cofidur aims to take advantage of this momentum.

The plant is undergoing construction to expand the production area by 1,000 m².
“We have two buildings over fifty years old that are thermal sieves. And between them is a patio, which is not very industrial,” says Dupoiron. The new building will link the two wings of the U-shaped site, ultimately creating 8,000 m² of space.
“This will allow us to optimize workflows. We’re also renovating the façade, improving insulation, and building new staff facilities,” adds Delaunay. The project will likely last 18 months, with a €3 million total budget.
Thirty new jobs could be created starting in 2026.

Source: Le Journal des Entreprises

The COFIDUR Group is proud to announce the successful acquisition of SEICO, marking a major milestone in its strategic plan “AMBITIONS 2025.” This move strengthens our position in the electronic subcontracting market and comes with a brand-new visual identity.

Synergy of expertise

SEICO is renowned for its ability to rapidly develop prototypes, small series, and test equipment/benches. This agility, combined with COFIDUR’s experience in complex processes, creates a synergy that benefits our clients by delivering flexible and innovative solutions.

A new visual identity

To celebrate this new phase of growth and collaboration, we are pleased to unveil our new visual identity, a reflection of our ambition and commitment to innovation. This change is embodied in a new logo, representing the harmonious fusion of COFIDUR and SEICO’s strengths. The modern, streamlined design reflects our collective momentum and our future-oriented vision.

Leadership and future vision

Hervé OLRY, who continues to play a strategic role within the COFIDUR Group, also leads the SEICO site. This leadership continuity ensures a smooth integration and maintains our high standards of quality and service.

Together, we are consolidating our new offering and developing the 2030 strategic plan, aimed at leveraging new synergies to deliver high-value-added solutions and further reinforce our position as an industry leader.

A promising future

The acquisition of SEICO, combined with our new visual identity, marks a turning point in COFIDUR’s history. With more than 500 employees and €100 million in revenue, we are well positioned to meet tomorrow’s challenges and provide even more competitive and innovative solutions.

We invite our clients, partners, and the broader community to explore SEICO’s new visual identity, which symbolizes our renewed commitment to excellence and innovation.

We are excited to share this new chapter of our journey—and to keep innovating together.

Enjoy the discovery!

Looking Back on the Acquisition of SEICO by COFIDUR

Why did you acquire Seico specifically?

Laurent Dupoiron: Based on our Ambitions 2025 roadmap, we realized we had certifications and loyal customers, but lacked agility in accessing new markets. We had been seeking a company to acquire, and Seico’s situation aligned perfectly. The deal was finalized on July 12.

Do you plan to keep Joyeuse, the start-up acquired by Seico in 2023?

Laurent Dupoiron: Start-ups were not previously our focus due to structural limitations. Seico had €16M revenue from 100 clients, we had €75M from 65. We’ll keep Joyeuse and aim to grow it.

Is Cofidur now active in new sectors?

Laurent Dupoiron: Yes, we’re seeing projects in smart buildings, agriculture, and energy storage. We always aim to find new markets.

Do you plan to acquire other companies, even abroad?

Laurent Dupoiron: Most clients are French, but we serve some in Switzerland, Germany, and Belgium. We’re open to acquisitions in Belgium, the Netherlands, Italy, and Portugal.

What is your revenue target for this year?

Laurent Dupoiron: With Seico included, we aim for €100M. Aerospace and defense are doing well, industry is slower. We expect a rebound in H2, but remain cautious.

What about the component shortage and stock levels?

Laurent Dupoiron: Some clients are redesigning PCBs to reduce dependency. Stock issues have improved, prices remain high but stable. Global demand is easing, helping the situation.

Are you installing solar panels to reduce energy costs?

Laurent Dupoiron: Work in Périgueux is nearly done, Laval starts this fall.

How is your Tunisian facility doing?

Laurent Dupoiron: Our Tunis partner Cofitel has lower costs and strong certifications. We aim to expand activity there.

Is recruitment a challenge for Cofidur as well?

Laurent Dupoiron: It’s not easy, but manageable.

Gilles Delaunay: Finding technical workers is difficult. We work with schools and deploy apprenticeship programs widely. Hiring engineers is easier.

Could the repair activity sold in 2018 make a return?

Laurent Dupoiron: Not in our strategic plan. We provide after-sales and reconditioning for B2B, but not consumer-level service.

Discover the TRANSFORM Project

We are pleased to launch the TRANSFORM project at our Périgueux site! This ambitious program marks a new stage in tomorrow’s industry by combining industrial transformation and technological performance to make our site a model of industrial excellence. Thanks to TRANSFORM, our Périgueux site positions itself as a precursor of the industry of the future.

An ambitious project aligned with our “Ambitions 2025” strategic plan

Supported by Le Grand Périgueux and the Nouvelle-Aquitaine Region, TRANSFORM fits perfectly into our Ambitions 2025 strategic plan. This initiative represents a major step towards an eco-responsible and digitized industry, integrating the best practices of industrial modernization and Industry 4.0 technologies.

The key objectives of the TRANSFORM Project

• A modern and connected electronic industrial complex. By adopting the principles of Industry 4.0, TRANSFORM transforms our site into a Lean and optimized production complex. This fully interconnected production model promotes performance and improves flexibility.
• Optimized energy performance to reduce our environmental impact. Committed to the ecological transition, we optimize our energy consumption and reduce our carbon footprint. Thanks to innovations such as energy recovery and process optimization, the project aims to significantly reduce our environmental impact, aligned with sustainable development goals.
• A quality working environment for our employees. The TRANSFORM project places well-being at work at the heart of our approach. Our redesigned professional framework offers modern and ergonomic spaces that promote quality of life at work. By investing in well-being and professional development, we strengthen our attractiveness and create an environment conducive to innovation and collaboration.

TRANSFORM: On the Road to the Factory of the Future

The TRANSFORM project is a true industrial revolution for our Périgueux site. By integrating advanced technological solutions and optimizing our processes, we are building a factory of the future that combines efficiency, sustainability, and humanity. This project is a unique opportunity to make our site a reference player in the industry, capable of meeting the environmental and societal challenges of tomorrow while remaining true to our group’s values.

We look forward to continuing this transformation alongside our partners and employees. Together, we are moving towards a future where industrial performance and environmental responsibility go hand in hand.

On the road to the Factory of the Future with the TRANSFORM project!

A Year of Success and Aspiration

As we begin this new year, all our teams extend their warmest wishes for 2025. May this year be one of personal and professional growth, success, and prosperity. Together, let’s build a future driven by ambition and determination.

2025: A Year of Challenges and Achievements

This new year is an invitation to embrace new challenges, bring your aspirations to life, and strengthen our collaboration. We firmly believe that 2025 will be a year of shared successes and meaningful projects.

We are privileged to move forward by your side and excited to undertake ambitious initiatives together. Our entire team thanks you for your trust and wishes you a 2025 full of opportunities and success.

HAPPY NEW YEAR 2025!