News
19.01.2024Arnaud Pédron, Numa Rengot

Distressed acquisition opportunities – January 2024

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).

Chauss’expo

Main features:

  • Business: Footwear retail & logistics
  • Company registration number: 341 816 064
  • Headcount 732 employees
  • 2022 revenues: 80,7 M€
  • Deadline for submitting bids: 09/02/2024

Distribution and marketing of electronic products and urban mobility products

Main features:

  • Business: Distribution and marketing of consumer electronics products (PCs, computer peripherals, storage) and urban mobility products such as bicycles and electric scooters to mass retailers, via “marketplaces” or after e-commerce sites.
  • Location: Rhône
  • 2023 revenues: 42 M€ – 2022 revenues: 57 M€ – 2021 revenues (9 months) : 50 M€
  • Headcount 33 employees
  • Deadline for submitting bids: 13/02/2024

Sale of automotive parts

Main features:

  • Business:
    Sofidest : Holding company
    Webdelauto: Sale of car parts via internet, shops, corners, distributors
    Nord Distribution: wholesaler of European spare parts for the group
    Nippon Pi5 production sites in France and 3 abroadèces Service : Importer and distributor of Asian and European car parts
    CIA : Internet sales of Asian and European car parts
  • Headcount: Sofidest : 25 employees – Webdelauto : 30 employees – Nord Distribution : 17 employees – Nippon Pièces Service : 21 employees – CIA : 0 employee
  • 2022 revenues: Sofidest : 2 M€- Webdelauto : 14,1 M€ – Nord Distribution : 10,8 M€ – Nippon Pièces Service : 15,1 M€ – CIA : 0,9 M€
  • Deadline for submitting bids: 30/01/2024

Usinage de Compiègne

Main features:

  • Business: Manufacture of cast and machined aluminium, iron and steel automotive components
  • Location: Venette (Oise)
  • Company registration number: 478 500 275
  • 2022 revenues: 21 M€
  • Headcount 42 employees
  • Deadline for submitting bids: 06/02/2024

Kindy

Main features:

  • Business: Socks sales
  • Location: Oise
  • Company registration number: 830 135 570
  • 2022 revenues: 20 M€
  • Headcount 27 employees
  • Deadline for submitting bids: 16/02/2024

Abso Agencement

Main features:

  • Business: A company specialising in the creation, design and manufacture of top-of-the-range made-to-measure and standard fittings and furnishings for sales areas of all types
  • Location: Cadaujac (Gironde) and Mortagne-sur-Sèvre (Vendée)
  • Company registration number: 883 658 742
  • Headcount: Cadaujac : 16 employees – Mortagne-sur-Sèvre : 75 employees
  • 2022 revenues: 13,2 M€
  • Deadline for submitting bids: 05/02/2024

Installation of photovoltaic power plants

Main features :

  • Business: EPC (engineering, procurement, construction) company for photovoltaic power plant installation projects
  • Headcount 8 employees
  • 2023 revenues: 11,9 M€
  • Deadline for submitting bids: 26/02/2024

I/O Média – Lyric Média – Ideat Editions

Main features:

  • Business: Press group publishing the magazines Têtu, Ideat, The Good Life, Dim Dam Dom and Opéra Magazine and developing web platforms (BtoB)
  • Company registration number: I/O Média : 837 728 252 – Lyric Media : 899 539 910 – Ideat Editions : 423 011 923
  • Headcount : I0 édia : 25 employees – Lyric Media : 4 employees – Ideat Editions : 16 employees
  • Revenues: I/O Média : Revenues at 31/12/22 (8 months) : 1,7 M € – Revenues at 30/04/2022 : 1,6 M € – Lyric Media : Revenues at 30/04/2023 : 102 K€ – Revenues at 30/04/2022 : 360 K€ – Ideat Editions : Revenues at 31/12/22 : 6,9 M€ – Revenues at 31/12/2021 : 7,1 M€
  • Deadline for submitting bids: 31/01/2024

Cutting and processing of metals and alloys

Main features:

  • Business: Cutting and processing of metals and alloys. Two independent sites that can be the subject of separate bids
  • Location: Aube
  • Headcount : Laser cutting and sheet metal work: 27 employees – Oxycutting and machining activity: 4 employees
  • 2022 revenues: Laser cutting and sheet metal work: 4,9 M€ – Oxycutting and machining activity: 2,4 M€
  • Deadline for submitting bids: 02/02/2024

Vigilance Protection (2 facilities)

Main features:

  • Business: Property and personal security, surveillance and guarding
  • Location: Provence Alpes Côte d’Azur
  • Headcount 259 employees
  • 2022 revenues: 3,4 M € – 2021 revenues: 2,4 M€ – 2020 revenues: 2,2 M€
  • Deadline for submitting bids: 31/03/2024

Boilermaking – Metalwork Stainless steel Copper Brass

Main features:

  • Business: Boilermaking – Stainless steel, copper, brass – Manufacture of professional kitchens and bars
  • Location: Montreuil (Seine-Saint-Denis)
  • 2022 revenues: 1,9 M€
  • Headcount 17 employees
  • Deadline for submitting bids: 27/02/2024

Endema Group

Main features:

  • Business: IT platform for home delivery throughout France
  • Location: Oyonnax (Aisne)
  • Company registration number: 879 708 667
  • 2023 revenues: 1,6 M€ – 2022 revenues: 2 M€
  • Headcount 16 employees
  • Deadline for submitting bids: 29/02/2024

Menuiserie Bret

Main features:

  • Business: Interior joinery, timber-frame construction and fittings
  • Location: Ceyzeriat (Ain)
  • Company registration number: 301 313 078
  • 2022 revenues: 1,4 M€ – 2021 revenues: 1 M€ – 2020 revenues: 1,7 M€
  • Headcount 11 employees
  • Deadline for submitting bids: 20/02/2024

Business consultancy

Main features:

  • Business: Business and other management consultancy with data project analysis
  • Location: Paris (Ile-de-France)
  • 2022 revenues: 1,34 M€ – 2021 revenues: 649 K€
  • Headcount 13 employees
  • Deadline for submitting bids: 02/02/2024

Pharmacy

Main features:

  • Business: Pharmacy
  • Location: Le Mans (Sarthe)
  • 2023 revenues: 1,3 M€
  • Headcount 5 employees
  • Deadline for submitting bids: 02/02/2024

Shoe sales – Mephisto

Main features:

  • Business: Footwear retailing in 5 outlets, mainly under the Mephisto brand.
  • Location: Paris 7° (Ile de France), Chatillon-sous-Bagneux, Boulogne and Sceaux (Hauts-de-Seine), Poissy (Yvelines)
  • 2022 revenues: 1,15 M€ – 2021 revenues: 1,4 M€ – 2020 revenues: 1,5 M€
  • Headcount 8 employees
  • Deadline for submitting bids: 15/02/2024