Cordon Group

What Cordon Group does

Cordon Group is a privately held French electronics lifecycle management company founded in 1989 in Dinan by Serge Cordon. The group operates 42 sites across 13 countries with approximately 3,800 employees and reported €420M of revenue in 2025. It organizes operations around eight business units spanning telecommunications, consumer electronics, medical devices, energy equipment, electronic manufacturing services (PCB/SMD/SMT assembly), e-commerce and B2B logistics, WEEE recycling and recovery, and defense microelectronics. The integrated service model combines manufacturing (industrialization, pre-series, SMD/SMT assembly, kitting), aftermarket services (after-sales outsourcing, repair, refurbishment, installation, maintenance, reverse logistics), and circular-economy solutions (refurbished product resale, device trade-in, material recovery) under a single group. Customers include major OEMs, telecom operators, medical device manufacturers, defense contractors, retailers, and insurers such as Apple, Samsung, Sony, Nespresso, Bouygues Telecom, SFR, Orange, Nokia, Airbus, Thales, BIOSYNEX, Allianz, Darty, and Amazon.

Cordon Group generates revenue through B2B managed service contracts (after-sales outsourcing for telecom operators and OEMs), professional services (installation, maintenance, supply chain management), electronic manufacturing services fees, refurbished hardware sales via direct channels (SHOP, BUYBACK, CADAOZ) and wholesale, WEEE recycling transaction fees and material recovery sales, and e-commerce logistics through its Mobiltron subsidiary. Distribution combines direct enterprise field sales with channel partnerships (most notably TD SYNNEX as of July 2025 for circular IT services in Europe) and proprietary digital platforms for B2C/B2B refurbished product trade-in and after-sales tracking. Key subsidiaries include Mobiltron (e-logistics, acquired 2020), RSB (WEEE recycling), SBE (after-sales services and reverse logistics), Cordon Electronics Italia (defense microelectronics), TAMET, NOI (Canadian medical devices), and the recently launched HexaDC mobile data center brand (March 2026).

The company's economic moat rests on a multi-country physical footprint, regulatory certifications (ISO 13485 for medical devices, ISO 27001, ISO 14001/9001/45001), OEM-approved repair processes for Apple, Nespresso, Sony, and major telecom operators, and Ecovadis Platinum ESG credentials. It processes approximately 29 million products annually and avoided 16,000 tonnes of CO2 through refurbishment and plastic renovation.

Name

Cordon Group

Legal name

CORDON GROUP

Website

https://cordongroup.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cordon Group is a privately held French electronics lifecycle management company serving telecom operators, OEMs, medical device manufacturers, defense contractors, retailers, and insurers through 8 business units spanning manufacturing, repair, refurbishment, reverse logistics, and WEEE recycling across 13 countries.

Ownership category

akta.pro rank

Headquarters

HQ city

Dinan

HQ country

France

HQ region

Europe

Offices24 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. After-sales service (SAV) outsourcing: Cordon Group provides complete after-sales service management for electronics manufacturers and telecom operators, including repair, renovation, customer service, and reverse logistics. Revenue is generated through service fees, per-unit fees, and supply chain management charges. Customers include telecom operators (box refurbishment, network equipment maintenance), consumer electronics brands, and appliance manufacturers.
2. Electronic manufacturing services (EMS): Industrialisation, pre-series, SMD/SMT assembly, supply chain management, kitting, and shipment of electronic products and PCBs for clients in telecom, medical, energy, and defence sectors. Revenue is generated through manufacturing fees, component procurement margins, and value-added services.
3. Refurbished electronics retail and trade-in (B2C & B2B): Cordon Group operates SHOP (refurbished product sales to consumers/professionals) and BUYBACK (device trade-in/repurchase) platforms. Revenue comes from product sales margins and trade-in valuations. Direct channels include online storefronts and partnerships with retailers.
4. WEEE recycling and waste electrical equipment recovery: RSB subsidiary collects, depollutes, dismantles, and recycles waste electrical and electronic equipment. Revenue is generated through material recovery sales (metals, plastics) and service fees from manufacturers and distributors obligated to fund WEEE recycling.
5. E-commerce logistics and fulfillment: Mobiltron subsidiary provides e-commerce logistics, fulfillment, distribution, drop-shipping, and document management services. Revenue is generated through per-order fees, storage fees, and logistics management fees for B2B and B2C clients.
6. Installation and maintenance services: Field technician services for on-site installation and maintenance of electronics, including preventive, corrective, and predictive maintenance. Revenue is generated through service contracts and per-intervention fees, particularly in medical (DAE maintenance), telecom, and energy sectors.
7. Medical device lifecycle management: Full lifecycle management of medical devices including manufacturing, logistics, installation, maintenance, repair, refurbishment, and recycling, with ISO 13485 certification. Revenue streams include service contracts, per-unit manufacturing, and spare parts supply for defibrillators, scanners, audiometric booths, and other biomedical equipment.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels7 records

Core offering

Cordon Group provides end-to-end electronics lifecycle management services including industrialisation and EMS manufacturing (SMD/SMT PCB assembly), after-sales service (SAV) outsourcing, repair and refurbishment, installation and field maintenance, reverse logistics and supply chain management, and WEEE recycling and material recovery. The company also sells refurbished consumer electronics and spare parts through proprietary online platforms (SHOP, BUYBACK, DIGITRAZ, TRANSFER).

Product overview

Cordon Group operates as a comprehensive electronics lifecycle management platform organized into 8 distinct Business Units: Télécom (network infrastructure and terminals), Électronique grand public (consumer electronics after-sales), Médical (medical device lifecycle - ISO 13485 certified), Énergie (energy equipment), Fabrication électronique (CMS/PCB manufacturing and kitting), Logistique e-commerce & B2B (via Mobiltron subsidiary), Valorisation & recyclage des DEEE (WEEE recycling via RSB subsidiary), and Défense (microelectronic manufacturing). The portfolio spans from initial design and manufacturing through repair, refurbishment, reverse logistics, and end-of-life recycling. Key sub-brands include HexaDC (mobile data centers), Mobiltron (e-logistics), RSB (recycling), SBE, TAMET, and NOI. Online platforms include SHOP (refurbished products), TRANSFER (OS data transfer), BUYCK (repurchase), DIGITRAZ (data erasure), ASSISTANCE (digital guides), AUTODIAG (self-diagnosis), and SAV (case management). The company supports lifecycle management from cradle to grave with services for telecom, consumer electronics, medical, energy, and defense sectors across 13 countries.

Differentiator

Problem solved

Functional benefit

Brands

• HexaDC: Mobile data centers brand addressing digital sovereignty and business continuity challenges
• CADAOZ
• Mobiltron
• RSB
• SHOP
• TRANSFER
• BUYBACK
• DIGITRAZ

Products and services

• Electronic Manufacturing Services (EMS)

Quantifiable outcome

• 29 million products processed annually
• +9 more outcomes

Named customers37 records

Segments8 records

Ideal customer profiles7 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• TD SYNNEXcoreChannel Partner/ Reseller/ Distributor · 10 July 2025Cordon Group entered into a partnership with TD SYNNEX in July 2025, making Cordon Group's circular IT services (refurbishment, repair, WEEE recycling, reverse logistics) available through TD SYNNEX's extensive European distributor network. This enables Cordon Group to reach thousands of resellers and solution providers across Europe, significantly expanding its market reach in the circular economy IT services space.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• NOTE AB: Swedish EMS provider offering PCB assembly, prototyping, and after-sales services across Northern Europe. Similar business model and customer segments, though smaller in scale. Often benchmarked against larger European EMS peers.
• Neways Electronics International: Dutch-headquartered European EMS provider (formed via AsteelFlash combination) offering industrialisation, PCB assembly, supply chain management, and after-sales services. Direct comparable in size, business model, and European customer base, and one of the most relevant listed peers for Cordon's EMS and after-sales model.
• Back Market: French-headquartered marketplace for refurbished consumer electronics. Highly comparable in the circular economy/electronics refurbishment space, though Back Market is a B2C marketplace and Cordon is primarily a B2B services provider operating the SHOP and BUYBACK platforms.
• Scanfil: Finnish-listed European EMS company providing contract manufacturing, SMD assembly, and lifecycle services to industrial customers. Closest public-market comparable in scale, geography, and service mix - similar vertical exposure and mix of EMS plus after-sales.
• Hanza AB: Swedish-listed manufacturing services company offering contract manufacturing of electronics and mechanics with after-sales and lifecycle services. Comparable in integrated manufacturing and lifecycle service model, with similar European mid-market customer base.
• Cicor Technologies: Swiss EMS provider with strong focus on medical, aerospace/defense, and industrial customers. Highly comparable to Cordon's defense (Cordon Electronics Italia) and medical business units and similar European positioning; the closest pure peer in the regulated-verticals space.

Broad incumbents

• Flex Ltd: Global EMS leader (formerly Flextronics) offering design, manufacturing, supply chain, and after-sales services at much larger scale. Overlaps with Cordon's EMS business but at global incumbent scale, with broader product and customer portfolio.
• Jabil Inc. Global EMS and supply chain services provider with operations worldwide, serving consumer electronics, healthcare, automotive, and industrial customers. Comparable business model to Cordon's EMS BU but at significantly larger scale and broader geographic footprint.
• Veolia Environmental Services: Global environmental services and waste management company with significant WEEE recycling operations across Europe. Comparable to Cordon's RSB subsidiary but at much larger scale and with broader waste streams; sets the regulatory and competitive benchmark for industrial WEEE recycling.

Emerging players

• Refurbed: Austrian refurbished electronics marketplace operating across Europe. Operates adjacent to Cordon's BUYBACK and SHOP platforms, focused on consumer refurbished devices. Comparable value proposition around quality-assured refurbished electronics but with a different go-to-market model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cordon Group