Latour Capital buys French PCB maker Elvia Electronics from Tikehau

What's the deal? French private equity firm Latour CapitalDealroom has a profile for this one. Try Dealroom → has signed an agreement to acquire Elvia Electronics, France's largest maker of high-reliability printed circuit boards (PCBs), from Tikehau CapitalDealroom has a profile for this one. Try Dealroom →. The deal, announced in October 2026, values the company at an undisclosed amount. Latour is buying almost all of Elvia's capital through its Emergence Défense fund.

What each side does: Based in Coutances, Normandy, Elvia designs and makes PCBs for defense, robotics, space, aerospace, energy, automotive, and industrial customers, including Airbus, Safran, and ThalesDealroom has a profile for this one. Try Dealroom →. It employs about 420 people across three industrial sites and reportedly generates about €70 million in revenue. Latour Capital is an independent French investment firm managing €5 billion in assets.

Why now? This is a change of financial sponsor: Tikehau had owned Elvia since March 2022. Latour launched Emergence Défense, a fund dedicated to the defense industrial and technological base, in February 2026.

What's the endgame? Elvia is Latour's second deal for the fund, after June's acquisition of anti-drone company CERBAIRDealroom has a profile for this one. Try Dealroom →. Latour partner Alexis Morel called Elvia "a national and European champion on a strategic link where resilience and independence are becoming critical" (translated from French), pledging to give it "the means to fully assert this leadership."

CEO Alain Dietsch said the sale opens "a new page" built on Latour's "sector expertise" (translated from French), aiming to expand the group's French sites and accelerate international growth.

The signal: The deal sits at the intersection of two trends: consolidation in European PCB manufacturing — Italy's SomacisDealroom has a profile for this one. Try Dealroom → completed its purchase of French-Belgian producer Group ACB in July — and rising investor interest in industrial suppliers to defense. With defense programs expanding and critical supply chains being relocated, the test will be whether new ownership backs capacity and growth rather than marking another sponsor exit.

Read more: vipress.net

Image credit: Generated with Gemini