Franklin advises Tethys SAS, defense player, in the context of the LBO/MBI of Abenex

Franklin advised the shareholders of Tethys SAS, a French specialist in pyromechanical systems for critical applications, in the defense, aerospace and security sectors, as well as the management team led by Philippe Saussol, President, as part of the LBO/MBI of Abenex alongside Bpifrance which reinvests during the operation.

Founded in 2004 and based in Signes (Var), Tethys has established itself as a recognized European player in the design, assembly and production of pyromechanical systems intended for defense, aerospace and security industries. Positioned in a niche market characterized by absolute reliability requirements and high entry barriers, Tethys stands out for its positioning as an independent player, giving it enhanced agility and strategic attractiveness.

In 2020, to take over Téthys SAS, Philippe Saussol set up the second search fund in France, bringing together several investors, particularly Spanish ones, around Istrial Capital as well as Definvest, the BPI defense fund.

This release constitutes the best global performance (excluding the US) of a search fund.Â

Franklin supported Tethys shareholders and the management team with a team composed ofAntoine Denis-Bertinassocié, Camille Ménardcollaborator, Jessica Ariaslawyer, and Hélène Bulut for the aspects Corporate M&A et management packageas well as Jacques Mestoudjianassociate, and Rudy Marouani for aspects of tax law.

Lerins and Nabarro Beraud advised the buyers.