Theon International Set to Acquire 80% of French Gimbal Specialist Merio

A Strategic Acquisition in Lightweight Electro-Optics

Theon International has agreed on binding terms with RPL Développement, the sole shareholder of Merio SAS, to acquire 80% of the company's capital. The operation is part of a strategy to expand the group into the segment of lightweight and aerial electro-optical platforms. Merio is a French designer and manufacturer of compact gyro-stabilized gimbals and high-performance turret systems. These solutions cater to aerial, terrestrial, infrastructure protection, and emerging maritime applications, covering a spectrum from loitering munitions and tactical drones to anti-UAS defense systems and unmanned vehicles. Founded in 2014 and based in Saint-Paul-Trois-Châteaux, the company employs about 40 highly specialized engineers. It boasts ITAR-free technologies, a predominantly French and European supply chain, and comprehensive after-sales capabilities. This acquisition aligns with Theon's progression towards a revenue goal of one billion euros by 2029.

Expected Profitability and Financial Flows

Merio is expected to generate revenues exceeding 15 million euros in 2026 with a projected EBIT above 3.5 million euros. The acquisition is being made at an EBIT accretive multiple. The financing will combine debt and internally generated cash. The management team and key staff will remain with the company, which will be managed by its founders and co-owners according to the model applied to other group investments. Theon will focus its efforts on accelerating exports and coordinating research and development work between the two companies.

Timeline and Related Announcements

Theon will publish its commercial update for the first quarter of 2026 on May 5, 2026, after market close.