Private Placements

Bryan, Garnier & Co acts as Sole Secondary Advisor to a group of historical shareholders in Back Market on the secondary sale of their shares to Noteus Partners and AFIR

Founded in 2014, Back Market is the leading online marketplace dedicated to refurbished electronics, driving the adoption of sustainable consumption practices.

The company connects millions of customers with certified refurbishers, offering high-quality electronic devices at affordable prices while reducing electronic waste.

Back Market serves customers in over 15 countries, spanning Europe, North America, and Asia, and works with a vast network of trusted partners to ensure rigorous quality standards and exceptional customer satisfaction.

Since its inception, Back Market has raised significant funding to expand its global reach, enhance its platform capabilities with AI-driven quality assurance systems, and strengthen its leadership in the circular economy.

Bryan, Garnier & Co acts as Sole Secondary Advisor to a group of historical shareholders in Back Market.

Bryan, Garnier & Co conducted a competitive process involving Private Equity funds, Venture Capital funds, institutional investors, and strategic funds.

This transaction represents a landmark deal for Bryan, Garnier & Co’s secondary practice, as Back Market is one of the most prominent French unicorns and a global leader in the circular economy. It further demonstrates Bryan, Garnier & Co’s expertise in organising liquidity for historical shareholders in venture and growth-backed companies.

Founded in 2014 by Thibaud Hug de Larauze, Quentin Le Brouster, and Vianney Vaute, Back Market is a global marketplace for reborn tech, specialising in premium refurbished electronics. The company’s mission is to make refurbished devices trustworthy, reliable, and affordable, offering consumers up to 50% off the price of brand-new products. 

As a certified B-Corp, Back Market’s rigorous vetting process ensures that only the best refurbishers are allowed to sell on its platform. By working closely with professional refurbishers, the company guarantees that every device is tested and restored to perfect working condition in line with industry standards.

Noteus is an independent, specialist growth equity investment firm, originating from the same European ecosystem as the companies it partners with. Founded in 2024, and with more than 55 years of combined growth investing experience across the team, Noteus was established in recognition of the challenges of scaling across fragmented markets and believes that European technology companies can thrive with the right experience and support.

The team began backing tech champions as pioneers in European growth equity over a decade ago and has collectively invested more than €2.2 billion. They invest in fast-growing, category-defining technology companies with proven, scalable business models, led by ambitious management teams.

AFIR is the family holding company of the founding family of Decathlon, the global leader in sports retail. AFIR’s mission is to support entrepreneurs committed to creating a better world for all, while staying within the boundaries of planetary limits. Through its investments, AFIR seeks to foster innovation and sustainable solutions that positively impact society and the environment.