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Distressed acquisition opportunities – October 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 RengotLaura Bavoux 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).

Distribution of organic food products

Main features:

  • Business: Company specialising in the distribution of organic food products
  • Location: Gironde
  • 2023 revenues: 88,3 M€
  • Headcount more than 80 employees
  • Deadline for submitting bids: 18/10/2024

Stenpa

Main features:

  • Business: Manufacture of recyclable ‘technical’ paper
  • Location: Stenay (Meuse)
  • Company registration number: 804 891 281
  • 2023 (project) revenues: 47,8 M€
  • Headcount 121 employees
  • Deadline for submitting bids: 04/11/2024

SAS Legal

Main features:

  • Business: Coffee roasting and marketing
  • Location: Head office: Paris – Production site: Le Havre (Seine Maritime)
  • Company registration number: 440 370 922
  • CA 2023 revenues: 44,8 M€ – 2022 revenues: 52,6 M€ – 2021 revenues: 38 M€
  • Headcount 120 employees
  • Deadline for submitting bids: 06/11/2024

Urban buses and coaches

Main features:

  • Business: Trade, maintenance, servicing, repair of urban buses and coaches; Import, export, sale and distribution of spare parts
  • Location: Val d’Oise
  • 2023 revenues: 37 M€
  • Headcount 19 employees
  • Deadline for submitting bids: 08/11/2024

Oskab

Main features:

  • Business: Design and distribution of kitchens and bathrooms under the ‘OSKAB’ brand
  • Location: Head office in Marcq-en-Barœul (Nord) – 1 showroom and warehouse in Wasquehal and 2 showrooms and warehouses in Gradignan (Gironde)
  • Company registration number: 752 386 235
  • 2023 revenues: 26 M€ – 2022 revenues: 26,1 M€ – 2021 revenues: 25,7 M€
  • Headcount 144 employees
  • Deadline for submitting bids: 30/10/2024

Industrial bakery

Main features:

  • Business: Industrial bakery, bread-making plant
  • Location: Sud Ouest
  • 2023 revenues: 12 M€
  • Headcount 70 employees
  • Deadline for submitting bids: 08/11/2024

We Events

Main features:

  • Business: Influencer representation agency
  • Location: Clichy (Hauts-de-Seine)
  • Company registration number: 822 271 409
  • 2023 revenues: 9,3 M€
  • Headcount 5 employees
  • Deadline for submitting bids: 04/11/2024

Industrial roofing, cladding

Main features:

  • Business: Industrial roofing, cladding, waterproofing and insulation
  • Location: Franqueville-Saint-Pierre (Seine Maritime)
  • 2023 revenues: 7 M€ – 2022 revenues: 6 M€ – 2021 revenues: 8,8 M€
  • Headcount 15 employees
  • Deadline for submitting bids: 31/10/2024

Air 8

Main features:

  • Business: Installation of telecommunications systems and networks, in particular fibre optics
  • Location: Saint Ouen (Eure) and Saint Armel (Ille-et-Vilaine)
  • Company registration number: 827 902 602
  • 2023 revenues: 7,1 M€ – 2022 revenues: 8,6 M€
  • Headcount 35 employees
  • Deadline for submitting bids: 12/11/2024

Demolition

Main features:

  • Business: Demolition, earthmoving, public works equipment hire
  • Location: Le Blanc Mesnil (Seine-Saint-Denis)
  • 2023 revenues: 4,2 M€ – 2022 revenues: 5,6 M€ – 2021 revenues: 4,6 M€
  • Headcount 22 employees
  • Deadline for submitting bids: 18/11/2024

Integrator of telecoms

Main features:

  • Business: Integrator of telecoms, network and security solutions, deployed worldwide and then managed from the 24/7 Services and Operations centre
  • Location: Poitiers (Vienne)
  • 2023 revenues: 3 M€ – 2022 revenues: 3,7 M€ – 2021 revenues: 4,1 M€
  • Headcount 23 employees
  • Deadline for submitting bids: 04/11/2024

Ermax

Main features:

  • Business: Manufacture of technical parts from plastics
  • Location: Roquefort-la-Bedoule (Bouches-du-Rhône)
  • Company registration number: 316 475 599
  • 2023 revenues: 2,9 M€
  • Headcount 15 employees
  • Deadline for submitting bids: 04/11/2024
Gam Annecy

Principales caractéristiques :

  • Business: Wholesale of music CDs and vinyl records
  • Location: Cran-Gevrier (Haute Savoie)
  • Company registration number: 348 646 449
  • 2023 revenues: 2,6 M€ – 2022 revenues: 3 M€ – 2021 revenues: 3,4 M€
  • Headcount 7 employees
  • Deadline for submitting bids: 22/11/2024
service à la personne

Social services without accommodation

Principales caractéristiques :

  • Business: Social services without accommodation
  • Location: Pyrénées-Atlantiques
  • 2023 revenues: 2 M€
  • Headcount 76 employees
  • Deadline for submitting bids: 25/10/2024

DDB Invest and Swipe

Principales caractéristiques :

  • Business: DDB Invest: Equity investments (Swipe, Homcare International) – Swipe : Marketing of cleaning products, cosmetics distribution network, home sales
  • Location: Sainte-Luce-sur-Loire (Loire Atlantique)
  • Company registration number: DDB Invest : 878 798 792 – Swipe : 872 801 808
  • 2023 revenues: DDB Invest : 250 K€ – Swipe : 1,6 M€
  • Headcount 9 employees
  • Deadline for submitting bids: 29/10/2024