Abenex completes the sale of its stake in HTDS and reinvests alongside the founding family to support a new phase of development

Following several years of partnership marked by strong growth across attractive markets and a transformative operational journey, Abenex announces the sale of its minority stake in HTDS and its reinvestment alongside the founding family, management and the Group's new shareholders. This transaction marks the culmination of a sustained growth trajectory — notably characterised by EBITDA growth exceeding 50% over the period and a successful management transition — and opens a new phase of development.

HTDS, an international group specialised in the distribution and maintenance of high-tech detection and analysis solutions, has established itself as a leading player in attractive segments, including safety and laboratory equipment in high-demographic-growth regions, particularly across the African continent. HTDS benefits from a model largely anchored in value-added services and recurring maintenance activities, offering strong visibility and enhanced financial resilience.
Since Abenex's entry into the share capital in 2021 as a minority shareholder alongside the founding family, HTDS has undergone a significant transformation. This period was notably marked by a successful management transition, with the rise of Louaye Moudarres' sons — Farice Moudarres, Chairman, and Etienne Moudarres, CEO — Louaye Moudarres being the Founder of HTDS. Abenex supported this generational transition by contributing to the structuring of a management team alongside them, thereby strengthening the Group's operational capabilities.

In parallel, HTDS pursued strong growth across all its business lines, driven by market expansion and a reinforced international footprint. Abenex supported HTDS throughout its transformation, deploying its dedicated operational team while structuring a sustainable performance approach.

In this new transaction, the founding family — majority shareholders — are rolling over their stake alongside a pool of minority investors comprising Trocadéro Capital Partners, AfricInvest Europe, Bpifrance and Société Générale Capital Partenaires. Abenex is reinvesting in this new phase alongside the family and management, reflecting its conviction in the Group's growth outlook.

HTDS intends to pursue its growth trajectory, building on its solid fundamentals, multi-sector expertise and strong market positioning.

Mathieu Mauhourat, Partner, and Marie-Raphaëlle de Wissocq, Director, comment: "We are proud to have supported HTDS through a key phase of its development, marked by a successful management transition and strong value creation. Our reinvestment reflects our conviction in management quality and the Group's ability to sustain its long-term growth trajectory."

Farice Moudarres, Chairman of the HTDS Group, adds: "We thank Abenex for the quality of their support over the past years. Their involvement — particularly in structuring the Group and accompanying the generational transition — gives us the confidence to approach this new phase of development."