LATOUR CAPITAL & BPIFRANCE take majority stake in CERBAIR

Exail Technologies has been acquired by Thales following an agreement with the Gorgé family to transfer their combined 35.51 % holding in Exail and to launch a mandatory public tender offer for the remaining shares. The transaction is scheduled for completion of the initial stake transfer in the third quarter of 2027, subject to antitrust and regulatory clearances, with the full tender offer expected to close by early 2028. The Exail board has issued an unconditional recommendation in favour of the proposal

MDA Space has entered into a definitive agreement to acquire 100% of Blue Canyon Technologies from RTX Corporation's Raytheon business. This strategic move is expected to significantly bolster MDA Space's presence in the US government and defense space programs market, a segment considered one of the most dynamic in the global space industry. The primary strategic rationale for the transaction lies in the complementary nature of the two companies' businesses. Blue Canyon Technologies brings to MDA Space an established industrial platform in the United States, two manufacturing sites in the Denver region, and a team of over 400 space specialists

The transaction involves Société Générale Capital Partenaires joining the shareholder base of Air Support alongside existing investors iXO Private Equity and BNP Paribas Développement. This investment marks the third buy-out for Air Support, following previous investments in 2017 and 2022. The new financing is supported by a consortium of banks including Caisse d’Epargne Midi-Pyrénées, Crédit Agricole Toulouse 31, and LCL. The strategic rationale behind this investment is to support Air Support's continued growth and expansion, both in France and internationally, by reinforcing its industrial capabilities

Fjord Defence Group ASA has entered into a definitive agreement to acquire 100% of the share capital of PartnerTech Karlskoga Aktiebolag, a specialized industrial player in precision metal components for the defense industry. This transaction is part of a broader strategy to build an integrated European defense platform, combining critical component manufacturing and expanding the acquirer's industrial value chain. The deal structure involves a mixed payment mechanism, comprising a cash component and a stock component, supplemented by a performance-based incentive scheme for certain key executives of the target company

Nexteam completed a shareholder reorganization following a competitive process led by Crédit Agricole CIB and Indosuez Corporate Advisory. As part of the transaction, a consortium comprising EMZ Partners, Bpifrance and Amundi Private Equity Funds acquired a minority stake in the company to support its next phase of growth. The new investors succeed Tikehau Capital, which had been a minority shareholder since 2018, while management, led by Ludovic Asquini and Christophe Maury, increased its ownership and retained control of the business through the backing of the long-standing “Friends of Nexteam” shareholder group

Kraken Robotics has entered into a definitive agreement to acquire Covelya Group, marking the largest acquisition in its history. This transaction represents a pivotal milestone in the company's scale-up strategy and its ambition to establish itself as a leading player in underwater technologies. The combination is driven by a strong industrial and technological complementarity. Kraken brings its expertise in synthetic aperture sonars, high-performance underwater batteries, and autonomous robotic systems, while Covelya complements these capabilities with its acoustic positioning, navigation, imaging, data processing, and underwater surveillance solutions

Global alternative asset manager H.I.G. Capital has finalized, through one of its specialized affiliates, the total acquisition of International Aerospace Coatings (IAC). This primary M&A transaction represents a strategic exit for the private equity sponsor Tiger Infrastructure Partners, which previously held a controlling interest in the aviation services company. The strategic rationale behind the acquisition is rooted in accelerating the international expansion of International Aerospace Coatings to capture expanding market demand for critical fleet finishing solutions

Abenex has completed the acquisition of a majority stake in Tethys, a French specialist in pyromechanical systems, through its second small-cap fund. This transaction represents a secondary leveraged buyout, facilitating a complete exit for the previous majority shareholders, which included a group of business angels operating as a search fund and Bpifrance's Definvest fund. The deal was the outcome of a competitive six-month auction process, primarily targeting financial sponsors, which saw Abenex emerge as the successful bidder against other private equity firms

The transaction involves the acquisition of a controlling interest in Mecaer Aviation Group (MAG) by the French private equity firm PAI Partners from Fondo Italiano d’Investimento and Stellex Capital Management. The exit follows a highly successful five-year holding period during which the target achieved record financial performance, including 219.3 million EUR in revenue for 2024. The strategic rationale for the deal centers on scaling MAG’s international operations, particularly in North America, and supporting its diversification into fixed-wing and UAV segments

The investment consortium led by a French industrial-focused sponsor has successfully finalized a Management Buy-In (MBI) of the target, marking the end of over a century of family ownership. This strategic transaction represents a pivotal step in the manufacturer’s evolution, transitioning the firm from a family-held enterprise into a consolidated paneuropean platform named International Protective Equipment (IPE). The strategic rationale for the move centers on the urgent requirement for European industrial autonomy in the defense sector and the target’s unique position as an integrated, patent-protected provider of high-end personal protective equipment