Investec advised the Berda family and Capza on the secondary MBO of Tevah Systèmes backed by Latour Capital
About the deal
Tevah Systèmes is a value-added distributor of electronic security solutions, leader in video surveillance and alarm systems. Through strategic partnerships with 100 brands, the company markets a curated range of in-stock SKUs, tailored to the needs of a diversified and loyal base of professional installers and integrators. Its integrated import-distribution model combines in-house logistics with value-added services for customers.
Founded in 2004 by Philippe Berda and led by David Berda since 2022, the company has delivered a stellar growth trajectory, from €24m in 2021 to nearly €100m today. This growth has been powered by a highly efficient omnichannel model that pairs a modern e-commerce platform with a strategic network of 13 local branches. Having already integrated two key acquisitions, Onyx Vision (2024) and Serviacom (2025), the company acquired RAS Security in September 2026, a Belgian value-added distributor specialising in intrusion and fire detection systems.
Following a first OBO sponsored by Capza in 2022, Latour Capital is now investing alongside the Berda family and the management team to build a pan-European leader in electronic security distribution. The aim is to consolidate a fragmented European market through acquisitions and to broaden the current brand portfolio.
Our role
Investec advised the shareholders and the management team throughout the process:
- Shaping the transaction strategy
- Approaching potential financial sponsors
- Preparing the marketing materials
- Coaching the management team
- Leading the lender education and subsequently raising the acquisition financing on behalf of the Berda family and Latour Capital
- Overseeing the vendor due diligence
- Managing the auction and due diligence phases
- Negotiating the best transaction terms
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Huge thanks to Investec! Their teams fully immersed themselves in understanding Tevah down to the smallest detail, then steered our financial transaction with a masterful hand, delivering flawless execution at every stage. Committed, responsive and always offering sound advice, they were true partners from start to finish. We are deeply grateful to them.
