Photonis
- Investment date : September 2008
- Transaction size (Enterprise Value) : 100-300€m
- Industry : Defense
- Activity : Photo-detection components
- Previous Majority Shareholder : LBO Fund
- Status : In portfolio
- Fund : Astorg IV

The Photonis group is the world leader in photo-detection. It manufactures and sells optronic components for the detection and intensification of weak light radiations. A former optronic division of the Philips Group, Photonis was spun off in 1998.
The company’s main market is Night vision equipment for which it manufactures light intensifiers mainly used by armed forces and internal security. Photonis also develops and supplies products to the industrial and scientific markets, through the manufacturing and marketing of scientific detectors and photomultipliers.
Photonis’ headcount is approximately 1,000 worldwide. It operates 5 factories located in France, the Netherlands, USA, and Mexico.

• World leader in the protected niche market of defense components, with little competition, fuelled by a strong demand for military night vision applications.
• Major entry barriers: technological know-how protected by patents and specific production skills.
• Highly predictable future income and cash-flows, with a significant backlog.
• The company can become a consolidation platform for the photo-detection sector in civil and military applications.

«
The backing of Astorg Partners, a highly motivated and experienced shareholder providing long-term support for Photonis, will enable us to pursue our growth strategy and to realize our plans for acquisitions. This new shareholders represents a strong support - financial as well as human - to our international expansion. »
Goossen Boers, chairman of Photonis