Founded in 2004 and based in Signes (Var), Tethys has established itself as a recognised European player in the design, assembly and production of pyromechanical systems for defence, aerospace and security manufacturers. Positioned in a niche market characterised by absolute reliability requirements and strong barriers to entry, Tethys stands out through its independent positioning, giving it enhanced agility and strategic attractiveness.
In 2020, to acquire Tethys SAS, Philippe Saussol set up the second search fund in France, bringing together several investors, including Spanish investors, around Istria Capital as well as Definvest, BPI’s defence fund.
This exit represents the best global performance (outside the US) of a search fund.
Philippe Saussol, Chairman of Tethys SAS, said: “I was absolutely delighted to work with the Franklin team, whose expertise was matched only by the human quality of the project team.”
Franklin advised the shareholders of Tethys and the management team with a team composed of Antoine Denis-Bertin, Partner, Camille Ménard, Associate, Jessica Arias, Jurist, and Hélène Bulut, on Corporate M&A and management package matters, together with Jacques Mestoudjian, Partner, and Rudy Marouani, on tax law matters.
Lerins and Nabarro Beraud advised the buyers.
