AfricInvest Europe is pleased to announce that French-African Fund 3 has completed its first investment in Hi-Tech Detection Systems Group (HTDS) a specialist in the distribution, services and maintenance of high-tech detection and safety systems. The transaction was completed alongside Trocadero Capital Partners, Bpifrance and Société Générale Capital Partenaires. This new investment round, which also includes the reinvestment of the historical shareholder Abenex, enables the Moudarres family and the management team to increase their stake in the company.
Founded in 2002 by Louaye Moudarres and then transferred to his sons Farice (President) and Etienne (Chief Executive Officer) in 2021 as part of the management transition carried out alongside Abenex, HTDS operates in France, Africa and the Middle East. The company supplies a wide range of X-ray scanners, walkthrough detectors, metal and explosive detectors, laboratory instruments, and radiation protection solutions to public authorities, including airports and ports, as well as major industrial groups operating in sectors such as food processing, pharmaceuticals, nuclear energy, defence, energy, and research. HTDS partners with leading international manufacturers such as Rapiscan Systems, PerkinElmer, Waters Corporation, Malvern Panalytical, and Thermo Fisher Scientific.
Positioned as an integrated solutions and services provider, HTDS delivers tailor-made solutions across the full value chain, from technology selection and installation to maintenance and staff training, supported by local technical assistance. The Group has experienced sustained growth, notably marked by revenue growth exceeding 50% between 2022 and 2025.
HTDS maintains a local presence in 14 countries and relies on a network of agents extending its commercial footprint to approximately 50 countries. This organization enables the group to remain close to its clients, ensure the local availability of spare parts and deliver rapid and efficient maintenance services. HTDS has developed a close and long-standing relationship with the African continent, where it operates eight subsidiaries (Algeria, Democratic Republic of Congo, Egypt, Cote d’Ivoire, Kenya, Madagascar, Morocco and Tunisia), as well as five additional offices in Cameroon, Libya, Nigeria, Senegal and Tanzania. This footprint is complemented by a network of agents covering the rest of the continent, with more than 230 people employed in Africa.
With the support of its new partners, HTDS’s management team intends to use this second LBO to accelerate its development through a combination of organic and external growth initiatives. The objective is to enter new markets and further diversify its product offering, services, and customer base. To achieve this, HTDS will leverage its expertise across the entire value chain, its international footprint, well-established brand reputation, experienced and dynamic management team, sound financial management, and clear strategic vision. The company will also benefit from the expertise of its financial partners to consolidate and strengthen its international presence, particularly across the African continent, which currently accounts for more than 50% of its revenue.
Farice Moudarres, President of the Group HTDS said, “We are delighted to welcome Trocadero Capital Partners, AfricInvest Europe, Bpifrance and Société Générale Capital Partenaires alongside us. The combination of our respective areas of expertise will help ensure the success of this new phase of development, focused on geographic expansion and broadening our offering.”
Stéphane Colin and Khaled Ben Jennet, Managing Partners of AfricInvest Europe added, “With the support of our eight offices across Africa (Algeria, Cote d’Ivoire, Egypt, Mauritius, Kenya, Morocco, Nigeria and Tunisia), we are pleased to support the HTDS team in their international expansion strategy, particularly across the African continent. We believe this region represents an increasingly strategic market, offering opportunities for external growth, new distribution agreements and geographic expansion for its existing suppliers.”
“We are delighted to support Farice and Etienne Moudarres, together with their management team, in this new stage of development. We are convinced that HTDS’s proven business model and the strategic vision of its leadership team will drive the success of this next phase of growth, and we will dedicate our expertise and capabilities to achieving this shared ambition” noted Nicolas Gagnez, Managing Partner of Trocadero Capital Partners.
Menele Chesnot, Regional Director at Bpifrance continued, “We are very pleased to support the Moudarres family in this new chapter of HTDS’s development. We are confident in the team’s ability to continue driving growth across its various segments, including security, detection, analysis, testing and inspection solutions, supported by the complementary profiles brought together by our co-investor pool.”
Lucas Donné, Investment Director at Société Générale Capital Partenaires said, “HTDS has demonstrated the strength of its business model and its ability to achieve organic growth in complex markets. Having significantly strengthened its organization in recent years, the Group is now ideally positioned to continue executing its growth strategy through the expansion of both its offering and geographic footprint. We are delighted to have the opportunity to support the Moudarres family and the associated management team in this new phase of growth alongside a highly complementary group of investors.”