Tikehau Capital, the global alternative asset manager, completes the acquisition by Safran of its stake in Preligens, a world leader in artificial intelligence (AI) for aerospace and defence, for an enterprise value of €220 million.
Following an exclusive negotiation process that began in June 2024, Tikehau Capital is selling its stake in Preligens to Safran.
Founded in 2016 by two French engineers, Preligens provides field-proven Artificial Intelligence (AI) analysis solutions for high-end imagery, full-motion video and acoustic signals.
Tikehau Capital’s investment in November 2020 has played a key role in accelerating the growth of Preligens, which has increased revenues tenfold (from €3 million to nearly €30 million), expanded operations in the US and Asia, and now employs around 250 people, including 140 R&D engineers.
This sale is the first divestment of Brienne III, the first vintage of the Group's private equity strategy dedicated to cybersecurity. This strategy has raised almost 4001 million euros over its two vintages and has now invested 150 million euros in 16 companies including Trustpair, Chapsvision and Egerie in France and VMRay in Germany.
This transaction generates a MOIC of 2.4x and a gross IRR of 30.4%2. 1 Brienne III raised €175 million, making it Europe's largest fund dedicated to cybersecurity. The next vintage announced a closing of €200 million in October 2023, exceeding the final size of the predecessor fund. 2 2.1x net MOIC and 18% net IRR.
ABOUT TIKEHAU CAPITAL:
Tikehau Capital is a global alternative asset management group with €46.1 billion of assets under management (at 30 June 2024).
Tikehau Capital has developed a wide range of expertise across four asset classes (private debt, real assets, private equity and capital markets strategies) as well as multi-asset and special opportunities strategies. Tikehau Capital is a founder-led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives. Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€3.1 billion of shareholders’ equity at 30 June 2024), the firm invests its own capital alongside its investor-clients within each of its strategies. Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 762 employees (at 30 June 2024) across its 17 offices in Europe, Middle East, Asia and North America. Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP). For more information, please visit:
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