mynth
06/2026Majority

Latour Capital & Bpifrance take majority stake in Cerbair

FRANCE Aerospace, Naval & Defense / Electronics REV €10–30M

Context

Latour Capital has acquired a majority stake in Cerbair through the first investment made by its Emergence Defense fund, launched at the beginning of 2026 to support the growth of strategic companies in the French and European defense sectors. Bpifrance is also participating in the transaction as a minority investor through the Defense Innovation Fund. The deal follows a competitive process that attracted several specialized investors in the defense and critical technologies sectors, resulting in a complete restructuring of Cerbair's capital with the exit of its historical investors, including several business angels who had been involved since the company's early stages. MBDA, a defense group that has been a shareholder since 2018, will retain a minority stake. The investment is based on a strong conviction in the potential of the anti-drone market, driven by the increasing use of civilian and military drones, the evolution of modern conflicts, and the growing regulatory requirements for protecting sensitive infrastructure. Cerbair has experienced a highly favorable dynamic, with annual growth of nearly 30% over the past four years and a commercial presence in around 30 countries. The new shareholders aim to accelerate the company's technological development, particularly in areas such as artificial intelligence applied to threat detection, advanced jamming systems, and interception solutions. The project also includes strengthening the group's commercial capabilities in France and internationally, as well as exploring external growth opportunities to expand its technological portfolio and geographical presence.

Cerbair, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of [members only].

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Target

Founded in 2015 by Lucas Le Bell within the deeptech studio Technofounders, Cerbair is a French specialist in counter-drone technology and electronic warfare. The company develops solutions designed to detect, identify, characterize, and neutralize unauthorized drones in sensitive environments, addressing growing security and sovereignty concerns. Positioned at the intersection of defense technologies, cybersecurity, and advanced signal processing, Cerbair leverages its recognized expertise in electronic warfare and algorithmic analysis of radio communications. Its solutions now integrate artificial intelligence technologies to enhance detection and adaptation capabilities in response to the rapid evolution of threats. The company serves both military and civilian clients, with its systems being deployed by armed forces, internal security agencies, correctional facilities, and operators of critical infrastructure. Cerbair is also involved in several strategic French programs related to the protection of sensitive sites and the security of low-altitude airspace.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
€10–30M
[members only]
[members only]
2024
€10–30M
[members only]
[members only]

Other operations with Latour Capital / Bpifrance

Other operations with Latour Capital / Bpifrance
DateAcquirerTargetCountrySector
07/2026ORIGINE PARTNERS / BPIFRANCELJ TRUCKSFRANCEHeavy Duty & Special Vehicles
07/2026FRENCH FOOD CAPITAL / BPIFRANCEEMMAFRANCERestaurants / Chains
06/2026FRENCH FOOD CAPITAL / BPIFRANCE / BNP PARIBAS DEVELOPPEMENTFABULOUS FRENCH BRASSEURSFRANCEWines & Spirits
06/2026ALUMINIUM BAHRAIN ALBA / BPIFRANCEALUMINIUM DUNKERQUEFRANCEMetallurgy / Foundry
06/2026EKKIO CAPITAL / BPIFRANCE / CARVEST (CRÉDIT AGRICOLE RÉGIONS INVESTISSEMENT) / BNP PARIBAS DEVELOPPEMENTCALICÉOFRANCELeisure Facilities
06/2026EMZ PARTNERS / BPIFRANCE / AMUNDI PRIVATE EQUITYNEXTEAMFRANCEAerostructures
06/2026LATOUR CAPITALSAVELYSFRANCEHVAC (Heating/AC)
06/2026BPIFRANCE / THREE HILLS / TURENNE CAPITAL / GROUPE VYVDESTIAFRANCEHome Care & Personal Services
05/2026ABENEX / BPIFRANCETETHYSFRANCEElectronics
04/2026LEGAL & GENERAL L&G / BPIFRANCEBLUEFRANCEMSP (Managed Services)

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REFERENCES

Revenue range: REV €10–30M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Cerbair by Latour Capital / Bpifrance are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: cerbair

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Cerbair, a French company specialised in Electronics, by Latour Capital and Bpifrance in 2026.

What was Cerbair’s revenue at the time of the deal?

At the time of the transaction, Cerbair’s annual revenue was estimated within the €10–30M range (FY 2025). Detailed financial figures are available to members.

What sources support the information on this transaction?

Information on this transaction is sourced from the official corporate announcement published by the parties, corroborated by a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

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