immeuble Franklin

Distressed acquisition opportunities – September 2023

Franklin’s Restructuring team has assembled its latest sector-by-sector list of distressed acquisition opportunities.

The targets are companies in insolvency proceedings that are now up for sale and for which tender offers have been made by the court-appointed trustees in charge of finding potential buyers.

Our sector-by-sector updates are designed to help clients quickly identify potential build-up opportunities.

Tender offer periods are very often extended beyond the deadlines specified in the list.

If you are interested in any of these assets, please contact our partners Numa Rengot and Arnaud Pédron who will be happy to provide further information and assist you with your acquisition.

This court-sanctioned sale process offers an opportunity to buy:

  • Fast: in a few weeks
  • Directly or through a NewCo
  • After limited due diligence (i.e., limited to the scope of the acquisition)
  • At lower prices than out-of-court acquisitions: the real cost consists in financing the acquired operation
  • Free and clear of debt, with only a few exceptions (no successor liability – lien and encumbrance free)
  • Without liability for restructuring costs
  • A turnkey, autonomous business unit
  • “Cherry picked” assets (number of employees, tangible and intangible assets, as well as rental, finance lease, distribution, purchase, and service agreements necessary for the continued operation of the business).

Iziwork

Main features:

  • Business: Temporary work.
  • Location: Clichy (Hauts-de-Seine)
  • 2022 revenues: 244 M€
  • Headcount 121 employees (6485 temporary workers)
  • Deadline for submitting bids: 25/09/2023

Kookaï

Main features:

  • Business: Sale of a women’s ready-to-wear brand. 31 shops and 35 corners.
  • 2022 revenues: 35,54 M€ – 2021 revenues: 30,07 M€
  • Headcount 232 employees
  • Deadline for submitting bids: 13/10/2023

Groupe de Promotion Immobilière

Main features:

  • Business: Development of medium/top-of-the-range housing, tourist residences and tertiary buildings.
  • Location: Gironde, Rhône Alpes, Sud-Est
  • 2022 revenues: 28 M€ – 2021 revenues: 20 M€
  • Headcount 14 employees
  • Deadline for submitting bids: 06/10/2023

Sitek Insulation

Main features:

  • Business: Manufacture and sale of building, insulation, filtration and absorption materials (Fesco range, Bariboard range, HTI range).
  • Location: Wissembourg (Bas-Rhin)
  • Company registration number: 808 825 467
  • 2023 revenues: 22,3 M€
  • Headcount 122 employees
  • Deadline for submitting bids: 31/10/2023

LS Services

Main features:

  • Business: Design, installation and maintenance of energy systems + photovoltaic IRVE, LED lighting and electric or low-carbon energy distribution networks.
  • Location: Rhône
  • Company registration number: 402 525 000
  • 2022 revenues: 21,3 M€
  • Headcount 254 employees
  • Deadline for submitting bids: 30/10/2023

Saint Jean Industries Laval

Main features:

  • Business: Casting (iron and steel) of industrial parts and automotive engine components.
  • Location: Changé (Mayenne)
  • Company registration number: 513 166 595
  • 2022 revenues: 11,4 M€
  • Headcount 83 employees
  • Deadline for submitting bids: 13/10/2023

Kitchen manufacturing

Main features:

  • Business: Kitchen manufacturing.
  • Location: Nouvelle-Aquitaine
  • 2022 revenues: 9,5 M€
  • Headcount 75 employees
  • Deadline for submitting bids: 29/09/2023

Le Bibent

Main features:

  • Business: Restaurant “Le Bibent” specialising in traditional cuisine, located on Place du Capitole.
  • Location: Toulouse (Haute-Garonne)
  • 2022 revenues: 5 M€ – 2021 revenues: 3,7 M€ – 2020 revenues: 3,9 M€
  • Headcount 49 employees
  • Deadline for submitting bids: 23/10/2023

Patibio

Main features:

  • Business: Production, manufacture and sale of organic bakery, patisserie and delicatessen products on a BtoB and BtoC basis
  • Location: 320 sales outlets in the Paris area
  • Company registration number: 353 573 850
  • 2022 revenues: 4,8 M€
  • Headcount 58 employees
  • Deadline for submitting bids: 16/10/2023

Ravalext

Main features:

  • Business: External insulation, rendering, painting and plasterboard.
  • Location: Le Grand-Quevilly (Seine-Maritime)
  • Company registration number: 440 908 242
  • 2022 revenues: 4,1 M€
  • Headcount 33 employees
  • Deadline for submitting bids: 09/10/2023
service à la personne

Home help

Main features:

  • Business: Home help.
  • Location: Seine-et-Marne
  • 2022 revenues: 1,6 M€
  • Headcount 57 employees
  • Deadline for submitting bids: 20/10/2023

Technifibre Concept

Main features:

  • Business: Wiring and electrical work, fibre optic connection of GSM network terminals.
  • Location: Seine-et-Marne
  • Company registration number: 537 944 498
  • 2021 revenues: 827 K€
  • Headcount 11 employees
  • Deadline for submitting bids: 16/10/2023

Cogcharonne

Main features:

  • Business: Medical practice specialising in the treatment of neurological and psychiatric disorders.
  • Location: Paris
  • Company registration number: 837 914 241
  • 2021 revenues: 800 K€
  • Headcount 11 employees
  • Deadline for submitting bids: 06/10/2023

Industrial start-up 

Main features:

  • Business: Industrial start-up owning 26 patents.
  • Location: Aix-en-Provence (Bouches-du-Rhône)
  • Headcount 63 employees
  • Deadline for submitting bids: 29/09/2023