Wendel Growth to realize its first exit following exclusive discussions with Safran to acquire Preligens, a leader in artificial intelligence for aerospace and defense
Summary
The realization of the transaction would generate net proceeds for Wendel of c.14.6M, translating into a gross IRR of 28%1, subject to entering into a final agreement.This first exit validates Wendel Growths focused strategy of backing fast growing and innovative venture capital companies on their way to becoming profitable attractive targets for either strategic players or private equity investors.Founded in 2016, Preligens provides field-proven AI analytics solutions for high-end imagery, full motion video and acoustic signals. The company develops complex algorithms and software to analyze and automatically detect and identify objects of military interest notably using commercial and government satellite images. The company employs approximately 220 employees, including 140 engineers in Research & Development.H1 2024 results - Publication of NAV as of June 30, 2024, and condensed Half-Year consolidated financial statements (post-market release)Q3 2024 Trading update - Publication of NAV as of September 30, 2024 (post-market release)Wendel is one of Europes leading listed investment firms. The Group invests in Europe and North America in companies which are leaders in their field, such as ACAMS, Bureau Veritas, Crisis Prevention Institute, IHS Towers, Scalian, Stahl and Tarkett. Wendel seeks to implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions.