BARKENE acquired by ASTORG

Astorg has reached an agreement to acquire a majority stake in Barkene from Montefiore Investment, marking the ninth investment from its €1.3 billion mid-cap fund. Barkene’s founder will continue to lead the group during this new phase of institutional ownership. The strategic rationale for the acquisition is focused on accelerating Barkene’s "buy-and-build" engine in a market that remains highly atomized. Under Montefiore’s ownership, Barkene successfully integrated 16 acquisitions, growing its revenue to over €110 million by 2025. Astorg intends to double the size of the group within the next five years, primarily through the continued acquisition of small-scale targets (typically under €5 million in revenue) and mid-sized regional players. The strategy capitalizes on Barkene’s high share of recurring contractual revenue and a structural market demand for fire safety and electronic security. The deal, expected to close before the summer of 2026, will be supported by a new debt package currently under negotiation with various lenders. For Astorg, Barkene represents a perfect "platform" asset with 4 to 5% organic growth potential and strong margins, serving as a consolidation vehicle in the French multi-technical security services landscape.