French KNDS to Acquire Texelis, Maker of SERVAL Armored Vehicles

KNDS and Texelis signed a Memorandum of Understanding (MOU) concerning the proposed acquisition by KNDS France of Texelis' Defense business.

Texelis is a French company producing numerous parts and mobility components for the French Army armored vehicles. Since winning the SERVAL contract with KNDS France, Texelis has been able to develop, qualify and produce complete mobility solutions for 4x4, 6x6 and 8x8 vehicles.

Under this agreement, the two parties announce that they are entering into exclusive negotiations with a view to carrying out this transaction, which will require the separation of Texelis into two companies - Texelis Défense and Texelis Transport.

Information and consultation of employee representative bodies on this project is scheduled to take place in the next few days. The final completion of this transaction, expected by the end of 2025, remains subject to the finalization of agreements and to the usual conditions precedent for this type of transaction, KNDS announced on January 29.

An innovative company, Texelis is at the forefront of hybridization for armored vehicles, as well as energy management applied to mobility. Texelis' Transport business would remain under the control of its management team, with the support of its investors.

Texelis employs 350 people and generated sales of around 110 million euros in 2023. In addition to its production site in Limoges, Texelis already has a branch at the KNDS France site in Roanne.

"This structuring project will enable us to strengthen our growth and increase our skills in the mobility field, with a high-performance French company that we know well and that is already our partner in the temporary business venture Serval" said Nicolas Chamussy, CEO of KNDS France.