Ulis SAS has sold a minority stake to GE Equity

CEA Investissement SA has sold its minority shareholding in Ulis SAS, a subsidiary of Sofradir SAS, to GE Equity. Financial details have not been disclosed.

Ulis engages in the research and development, design, and manufacture of thermal imaging technology for commercial and military applications worldwide. The company offers a range of infrared (IR) imaging sensors/high-volume IR detectors based on amorphous silicon microbolometer technology for IR cameras. It also provides customer support services. The company’s technology serves thermography, night vision, surveillance, firefighting, search and rescue, home energy audit, and automotive/transportation applications. It markets its products directly through technical and sales personnel. The company was founded in 2002 and is based in Veurey Voroize, France. Ulis SAS operates as a subsidiary of Sofradir SAS.

GE Equity is an investment firm specializing in direct and fund of funds investments. For direct investments, the firm invests in buyouts co-investments, late venture, special situations/turnarounds, secondary direct purchases, recapitalizations, and growth capital and middle- market investments. For fund of fund investments, it invests in limited partner investments in private equity funds.

CEA Investissement SA is the venture capital arm of Commissariat à l'Energie Atomique (CEA) specializing in start-ups and early stage investments. It seeks to invest in companies either commercializing innovations developed at CEA or doing business in the technology sectors where CEA is active in research and development such as micro and nanotechnologies, new energy technologies, new materials, biotech and medtech, systems, and software.

Oaklins' team in France advised the seller in this transaction.