Beara Mergers Facilitates Exosens’ Acquisition of Telops, Expanding High-End Imaging Capabilities

Montreal, November 13th 2023. – Beara Mergers, a Canadian mergers and acquisitions
specialist is proud to announce its most recent advisory role in a transaction, this time in high
technology.

Beara Mergers acted as the exclusive financial adviser for Exosens. This French company held
by private equity firm Groupe HLD, is a global leader in highly differentiated technology for
defence and industrial markets. Exosens announced on October 13th the acquisition of Telops,
based in Quebec City, which is a specialist developer and manufacturer of high-performance
hyperspectral imaging systems and infrared cameras.

With over 100 people, including over 40 R&D experts, Telops is a recognized infrared
imaging company offering state-of-the-art products for research labs and international
customers. Telops has distinguished itself with the quality of its dedicated and innovative
approach to the technological challenges in the field of optics and photonics.

By welcoming Telops to Exosens, the combined group will provide unique high-end imaging
products to their business-to-business customers through the mastering of component
manufacturing, a large geographical reach and advanced technological capabilities.
Beara Mergers extends its warmest congratulations to Exosens and expresses gratitude for
their trust in the Beara Mergers team. The operation, the terms of which are not disclosed, is
financed by Pemberton, CIC, BNP Paribas, LCL and Société Générale.

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Source : Jean-Daniel Leclair, associé principal Beara Mergers,
jd@bearamergers.com
Bearamergers.com