Tevah Systèmes receives an investment from CAPZA

Clipperton acted as sole sell-side financial advisor to the tech-driven platform dedicated to security equipment for professionals, Tevah Systèmes, on its minority LBO sponsored by CAPZA Transition[1].

Executive Summary

• Founded in 2004 by Philippe Berda, Tevah Systèmes is a leading omnichannel platform commercializing electronic security materials (video surveillance, access control, intercom, alarms, fire detectors, etc.) to professionals in the security field.
• CAPZA[2]’s investment in Tevah Systèmes will be made through its CAPZA Transition fund[1], a specialist in SME and mid-cap investments. This transaction marks the 8th operation of the CAPZA Transition fund, which invests in companies at strategic turning points.
• This new deal reinforces Clipperton’s expertise in successfully advising LBO transactions for innovate companies. Most recent LBO credentials notably include:
  • MBO’s growth investment in Praxedo
  • Ardian’s take private of Artefact [ALATF]
  • Inova’s LBO with the Carlyle Group
  • Solem’s LBO with Quilvest Capital Partners

 Our Client

• Founded in 2004 by Philippe Berda, Tevah Systèmes is the leading and fastest growing independent distributor of security systems in France.
• The company operates a fully automated platform selling electronic security materials (video surveillance, access control, intercom, alarms, fire detectors, etc.) to professionals and integrators in the security field. The company also offers value-added consulting services.
• Tevah Systèmes benefits from premium partnerships with leading security brands and manufacturers globally, strong inventory availability and a tech-driven sales platform.
• As a result, Tevah Systèmes experiences strong growth and plans to expand its coverage of the French territory to get even closer to its customers.

Deal Rationale

• CAPZA acquires a minority stake in Tevah Systèmes. CAPZA’s investment will be made through its CAPZA Transition fund, which invests in outstanding companies at strategic turning points. This transaction marks the 8th operation of the CAPZA Transition fund.
• CAPZA Transition supports the family transmission by financing a first LBO.
• Emmanuel Bonnaud, Managing Partner at CAPZA Transition, stated: “We are accompanying Tevah Systèmes in this strategic turning point, which combines family transmission, growth acceleration and business model evolution. We are convinced of the company’s potential, which is supported by tremendous entrepreneurial energy.”

Clipperton’s Role

• Clipperton acted as exclusive financial advisor to Tevah Systèmes and its management and shareholders with the structuring of the deal.
• This new deal reinforces Clipperton’s expertise in successfully advising LBO transactions for innovative companies. Most recent LBO credentials notably include:
  • MBO’s growth investment in Praxedo
  • Ardian’s take private of Artefact [ALATF]
  • Inova’s LBO with the Carlyle Group
  • Solem’s LBO with Quilvest Capital Partners
  • AssessFirst’s OBO with Capza
  • Smart’s MBO with Capital Croissance
  • Lengow’s majority-control investment with Marlin Equity
  • Advens’ minority LBO with Capza
• Philippe Berda, CEO of Tevah Systèmes, stated: “This capital opening comes at a key moment in our development and we are very excited to see CAPZA Transition join the adventure. This partnership will allow us to reinforce our strategic position in the security market and to initiate several external growth projects.” He added: “Clipperton was the perfect choice as an investment bank for us; the expertise of the team and the solid advisory work made us feel safe and well-accompanied throughout the entire process.”
• Thomas de Montille, Partner at Clipperton, stated: “Clipperton is absolutely delighted to have supported Philippe Berda and his three sons in this process which had for main purpose to find the most relevant financial partner to support the Berda family in the next growth phase of Tevah Systèmes. CAPZA Transition is the perfect match!”

Deal Team

• Thomas de Montille, Partner
• Olivier Combaudou, Executive Director
• Milan Amalou, Vice President
• Anne-Sophie Luo, Associate
• Vincent Giraud, Analyst

 

About Clipperton        

Clipperton is a leading investment bank dedicated to technology and growth companies. We provide strategic and financial advisory to entrepreneurs, corporates, and top-tier investors in Europe willing to execute transactions such as strategic M&A, private equity transactions, and private placements. Founded in 2003 and with offices in Paris, Berlin, Munich, London, New York, and Beijing, Clipperton has completed over 350 M&A and private placement transactions with fast-growing technology start-ups, blue-chip corporates, and renowned financial investors.

[1] The funds of the CAPZA Transition range are managed by the asset management company CAPZA, and advised by CAPZA Transition SAS which has financial investment advisor status (CIF in France), is registered under the Orias under the number 18001601 since the 23/03/2018.

[2] CAPZA (formerly Capzanine) is the commercial name of Atalante SAS, portfolio management company approved on 11/29/2014 by the « Autorité des Marchés Financiers » under GP-04000065.