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Sale of Bowen Systems to Exens Group

Paris (France), 2nd of April 2024,


Financière de Courcelles advised the shareholders of Bowen Systems on the sale of the group to Exens Group (formerly Cobham Microwave), owned by FCDE.

Exens Group acquired 100% of the shares of Bowen Systems from its historical shareholders to strengthen its specialist positioning in mission-critical radiofrequency, microwave and time-frequency solutions designed for harsh environments, serving primarily the defense and space industries, but also the medical, energy, transport and meteorology industries.

Based in Les Ulis, Bowen designs and manufactures electronic equipment for detection, communication and radars systems. Built through an external growth strategy executed by its founder and CEO Juvelino Da Silva as well as a sustained innovation policy, Bowen has evolved in two decades from a manufacturer of components to a supplier of complex sub-systems thanks to high-end complementary technological bricks (antennas, sensors, electronic and analog signal processing, software, etc.). Bowen operates an R&D site in Les Ulis and two industrial sites in France, in Trappes and Thiron-Gardais.

For Bowen, this operation acknowledges the managerial transition initiated between Juvelino Da Silva, the founding CEO, and Thomas Da Silva, the current COO, who will continue to support Bowen’s operational development. They will re-invest significantly in Exens Group alongside FCDE and the management.

Less than a year after the acquisition of AR Electronique, this second build-up will allow Exens Group to accelerate its development on complex high-end subsystems, to acquire additional technological bricks to strengthen its product portfolio and to pursue its ambitious innovation policy. This operation will also strengthen its industrial base and offer commercial synergies. Finally, the group will reach a critical size of €50m of revenues and almost 300 employees with this transaction.

This transaction is an example of FDC’s in-depth industrial and financial knowledge of the electronics and defense sectors, and of its strong involvement in these sectors.

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