Diferbat is a French B2B distributor of gate automation and access control solutions serving a network of nearly 1,200 installers. Through its MBO Flex fund, MBO+ is taking a minority stake alongside CEO Julien Frainet to support the company’s next stage of development.
Founded in 1988 in Buchelay (Yvelines), Diferbat has established itself as France’s leading distributor of gate automation and access control solutions. The company stands out for its logistics excellence (next-day delivery), its technical expertise (pre-sales advice, technical support and training) and a multi-brand catalogue of more than 3,000 products. Originally rooted in the Île-de-France and Normandy regions, Diferbat has gradually expanded its regional footprint and now has a strong presence across north-western France.
Four years after a first MBO alongside LT Capital, Diferbat has turned to MBO Flex for a sponsorless transaction that enables Julien Frainet to become majority shareholder. The deal aims to accelerate the group’s growth, both organically and through acquisitions in a fragmented market.
As part of the transaction, Diferbat’s key managers are also becoming shareholders, reflecting Julien Frainet’s wish to give his teams a lasting share in the value they help create.
This investment is the sixth for the MBO Flex fund, which completed its first transaction in 2024 following a first close at €100m the same year. MBO Flex’s strategy responds to growing demand from entrepreneurs seeking to finance organic growth, acquisitions and shareholder reorganisations while limiting dilution.
“Following our first LBO alongside LT Capital, we spent the past few years thoroughly restructuring the business and strengthening its fundamentals. Thanks to the commitment of our teams, we have successfully reached a key milestone in our development by building a solid organisation with expert functions in finance, logistics, sales administration, sales, after-sales service and marketing.
This new phase now gives us the means to accelerate our growth. With a robust and agile organisation in place, we are well positioned to pursue ambitious development, both organically and through targeted acquisitions.
I am particularly pleased to be opening this new chapter with MBO+, whose support goes well beyond financial backing. Their sponsorless approach, combined with the expertise of their team and Operating Partners, is a real lever to support our ambitions and the next stages of the company’s development.” Julien Frainet, CEO, Diferbat
“Diferbat perfectly illustrates what MBO Flex is all about: backing entrepreneurial leaders who have built a leading position in their market, enabling them to take a majority of the capital or limit their dilution, while giving them the means to finance their next phase of growth.” Xavier de Prévoisin, CEO, MBO+
“We are delighted to support Julien Frainet and the Diferbat team in this new stage. Our investment enables Julien to take a decisive step in the governance of his company, while giving the group the means to accelerate the expansion of its regional network and its external growth strategy.” Paul Vaissié, Partner, MBO Flex
“The group has secured a leading position in its market, driven by operational excellence and long-standing, trusted relationships with its customers and manufacturing partners. Julien and his team have shown a remarkable capacity for growth and built a truly differentiated business, and we are proud to stand alongside them as they write the next chapter.” Pauline François-Poncet, Investment Director, MBO Flex