Clipperton and Natixis Partners acted as buy-side financial advisors to Latour Capital on its acquisition of a significant stake in Tevah Systèmes, a leading value-added distributor of electronic security equipment in France (video surveillance, access control, intrusion detection, fire safety, intercom systems and automation). Tevah Systèmes aims to accelerate its development and become a leading pan-European value-added distributor of electronic security equipment.

About Tevah Systèmes

  • Founded in 2004 by Philippe Berda, Tevah Systèmes operates a hybrid distribution model combining a network of local branches with an e-commerce platform.
  • With revenue of nearly €100 million, Tevah is one of France’s leading value-added distributors of electronic security equipment. The Group offers a portfolio of more than 100 brands, including leading global manufacturers, and positions itself as a key partner to installers and integrators. 
  • It serves a diversified customer base of installers and integrators across France with a comprehensive product offering spanning video surveillance, intrusion detection, access control, fire safety and intercom systems.

Deal Rationale

  • Building on its leading market position, strong management team and structural growth in demand for security equipment, Tevah Systèmes aims to accelerate its development and become a leading pan-European value-added distributor of electronic security equipment.
  • This ambition will be underpinned by sustained organic growth and an active acquisition strategy, both in France and internationally, which Latour Capital intends to fully support. This strategy is already underway with the recent acquisition of RAS Security in Belgium, marking the first step in the Group’s European expansion, following the acquisitions of Onyx and Serviacom in France.
  • Latour Capital succeeds CAPZA Transition, which had been a minority shareholder in the Group since 2022, alongside the founding shareholders, the Berda family, and the management team, who are reinvesting significantly in the transaction. By joining forces with David Berda, President of Tevah Systèmes, Latour Capital intends to support the Group in its next phase of growth. 
  • This transaction is fully aligned with Latour Capital’s investment strategy of supporting market-leading companies in their development while preserving their entrepreneurial independence.
  • “From our very first discussions, we were impressed by the quality of Tevah’s management team, its strong entrepreneurial spirit and its market-leading position. We are delighted to support David Berda and his teams in this new phase of growth, bringing our resources and operational expertise to support the Group’s ambition in France and internationally”, said Maxime Picat and Gaspard Lacoeuilhe, Partners at Latour Capital.

A long-standing relationship with Tevah Systèmes and Latour Capital

This transaction extends Clipperton’s relationship with Tevah Systèmes, which it advised on CAPZA Transition’s minority investment in 2022, and now with Latour Capital as it succeeds CAPZA alongside the Berda family. It also marks a new collaboration with Latour Capital following Rollakin’s strategic investment from Initiative & Finance and Latour Capital, and builds on Clipperton’s experience supporting tech-enabled B2B platforms through their buy-and-build journeys.

Deal Team Clipperton

Deal Team Natixis Partners 

  • Olivier Dardel, Managing Director
  • Théophile Coumau, Vice President
  • Tifenn Le Collen, Analyst

About Clipperton

Clipperton is a leading international investment bank dedicated to technology and growth companies, with offices in Paris, New York, Berlin, and Munich, as well as partnerships in the Netherlands, the UK, Switzerland, China, Italy, and Spain. We provide strategic and financial advisory services to entrepreneurs, corporates, and top-tier investors in Europe who are looking to execute strategic M&A, private equity, private placements, and debt financing transactions. Founded in 2003, we have completed over 500 deals with fast-growing technology businesses, blue-chip corporates, and renowned financial investors.