Econocom is on the brink of closing multiple M&A deals across Europe.
The Euronext-listed reseller, which generated revenues of €2.5 billion in full-year 2021, wants to double its turnover and reach €10 billion in sales by 2030.
The target is part of a new business plan which was formulated last year after several years of transformation for Econocom.
In 2018 the reseller had an annus horribilis and issued a profit warning to investors after recurring operating profits for the first six months of the year plummeted by 43 percent to €34 million which sent its share price into a steep decline.
Its founder, Jean-Louis Bouchard, resumed control of the business later that year from his son, Robert. Econocom then embarked on a two-year transformation plan to reduce its debt, hiring consultancy firm McKinsey to help with the process.
The reseller then committed to divesting several of its subsidiaries throughout 2019, including UK-based mobility and wireless provider Jade Solutions. Econocom emerged from the transformation plan at the end of 2020.
Econocom acquired UK-based reseller Trams in July. The company is rumoured to be closing an acquisition of a reseller with €18 million revenue in Spain. This will soon be followed by the acquisitions of two “medium-sized” resellers in the Netherlands and Germany in June or July.
