Global alternative asset manager Tikehau Capital has competed the sale of its stake in Preligens, a specialist leader in artificial intelligence for aerospace and defencem to Safran for an enterprise value of €220m.
Completion of the deal follows an exclusive negotiation process that began in June 2024.
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.
According to a press statement, Tikehau Capital’s investment in November 2020 has played a key role in accelerating the growth of Preligens, which has increased revenues tenfold (from €3m to nearly €30m), 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 Tikehau’s private equity strategy dedicated to cybersecurity, which as raised almost €400m over its two vintages and has now invested €150m in 16 companies including Trustpair, Chapsvision and Egerie in France and VMRay in Germany.
The transaction has generated a MOIC of 2.4x and a gross IRR of 30.4% for Tikehau.
