Sofico partners with Ergon Capital under five-year growth strategy
Sofico has entered into a partnership with Ergon Capital Partners IV SCSP as it pushes ahead with its five-year strategy for continued success.
The strategy – dubbed Vision 2025 – aims to build a bigger, better, stronger and smarter company with the purpose of better serving fleet, finance and leasing customers that require sophisticated, future-ready systems to respond to the changes in the automotive finance and mobility space.
Key elements of the plan involve geographic expansion, increase of delivery capacity, broadening the product portfolio and innovating the technology stack.
The partnership with Ergon Capital – an independent, mid-market value investor with a track record of fostering innovative niche companies – will enable the company to realise these ambitions, although details of the investment have not been released.
Gémar Hompes, Sofico managing director, commented: “Building on a successful few years, with record figures in 2019, we have now laid out a strategy for sustained long-term success.
“Sofico has grown from the grassroots as a privately owned company, allowing us to focus autonomously on long-term objectives.
“As we greatly value this identity, we have been looking for a financially solid and stable partner that is willing to take a minority position, supports our long-term vision for the company, believes in sustainable value creation and shares our DNA and entrepreneurial spirit. In Ergon Capital we have found a partner that ticks all these boxes, for all our stakeholders.
“We want to keep investing in hybrid solutions, like Sofico’s Miles suite, that are capable of bridging contracted vehicle usage with driver centric, value-added mobility and connected car services, providing an end-to-end online customer journey and meeting the requirements of automotive OEMs as well as mobility and financial services providers,” he added.