Distressed acquisition opportunities – 17 february 2025

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, Laura 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).


		Group operating in the rail sector Main features: Business: Group comprising a French holding company and French and foreign operating subsidiaries Group operating in the rail sector, specialising in the design and production of solutions for the installation, maintenance and control of railway tracks and catenary systems Location: 3 plants in France and 2 plants abroad 2023 revenues: Between 100 and 150 M€ Headcount 750 employees Deadline for submitting bids: 07/03/2025
		Groupe Morlot – Morlot Construction Main features: Business: Holding company: In addition to its holding company business, it installs heating and air-conditioning equipment. Morlot construction: This company specialises in carpentry work, with expertise in timber and low-carbon construction, as well as general contracting and design-and-build work, setting up operations and maintenance, in both new-build and refurbishment projects, for the public and private sectors. Location: Vosges 2023 revenues: Groupe Morlot (Holding) : 36,5 M€ – Morlot Construction (principale filiale) :15,4 M€ – Consolidated revenues : 71 M€ Headcount : Groupe Morlot (Holding) : 67 employees – Morlot Construction (main operating subsidiary) : 118 employees Deadline for submitting bids: 28/02/2025
		Pôle Star Service Healthcare Main features: Business: Pharmaceutical logistics and transport services for sensitive medical products, including the provision of drivers and vehicle hire to healthcare companies. Location: France Company registration number: Vialto : 381 687 318 – Biotrans : 435 256 433 – Biolease : 884 335 282 2024 revenues (landing) : Vialto : 54 M€ – Biotrans : 3,8 M€ – Biolease : 3,7 M€ – 2023 revenues : Vialto : 56,6 M€ – Biotrans : 3,8 M€ – Biolease : 4 M€ Headcount : 826 employees – Vialto : 610 employees and Biotrans : 213 employees Deadline for submitting bids: 10/03/2025
		Property group Main features: Business: Real estate group structured around a holding company and two business divisions Total Group: Group support functions (administrative, legal, financial, etc.) Engineering Division: Design office and consultancy services for the energy and environmental efficiency of buildings Property Division: Property development, project management, property project companies 2023 revenues: Total Group: 9,2 M€ – Engineering Division: 8,4 M€ – Property Division: 24,5 M€ – CA 2022 : Total Groupe : 8,2 M€ – Engineering Division: 6,2 M€ – Property Division: 12,4 M€ Headcount: Consolidated – Total Group : 65 employees – Engineering Division: 50 employees – Property Division: 5 employees Deadline for submitting bids: 24/03/2025
		Clinic Main features: Business: Public-private partnership with the adjoining hospital Location: Seine-et-Marne 2024 revenues estiméated: 31 M€ Headcount: 188 employees et 60 doctors under private practice contract Deadline for submitting bids: 31/03/2025
		Paint distribution Main features: Business: Distribution of paint and decoration products for professionals and private individuals Location: 25 sites in France 2023 revenues: 30,4 M€ – 2022 revenues: 30,5 M€ Headcount 101 employees Deadline for submitting bids: 14/03/2025
		Mutualist union Main features: Business: Mutualist union 3 activities: – medico-social platform for neurodevelopmental disorders in Seine et Marne; – centre for addiction care, support and prevention in Paris; – adapted company (maintenance of premises, training organisation, industrial laundry and creation and maintenance of green spaces, etc.). Location: Seine-et-Marne and Paris 2024 revenues: 24 M€ including 20 M€ for the medical-social platform – 2023 revenues: 23,2 M€ Headcount 330 employees Deadline for submitting bids: 16/04/2025
		SCOP Cabrol Main features: Business: Design, manufacture and installation of metal frameworks – works for local authorities, EPICs and industry, either directly or via large general building contractors Location: Mazamet (Tarn) Company registration number: 812 836 385 2023 revenues: 16,8 M€ Headcount 61 employees Deadline for submitting bids: 14/03/2025
		Ze Way Main features: Business: Hire of personal electric scooters with exchangeable batteries from the ZEWAY network of stations, including maintenance and insurance. Location: Toulouse (Haute Garonne) Company registration number: Ze Way : 850 101 700 – Ze Way Asset : 852 147 263 2024 revenues: Ze Way : 8,8 M€ – Ze Way Asset : 3,9 M€ – 2023 revenues: Ze Way : 8,1 M€ – Ze Way Asset : 2,5 M€ Headcount: Ze Way : 39 employees on permanent contracts, 4 apprentices and 4 employees on permanent contracts in subsidiaries Deadline for submitting bids: 05/03/2025
		Transport company Main features: Business: Transport company Location: Mayenne, Côte d’Armor and Gironde 2024 revenues: 9 M€ – CA 2023 : 10,2 M€ Headcount 44 employees Deadline for submitting bids: 14/03/2025
		Toutadom Main features: Business: Last-mile home delivery service specialising in food (customers: caterers and food manufacturers) Location: Ile-de-France Company registration number: 403 631 872 2023 revenues: 8 M€ – 2022 revenues: 7,5 M€ Headcount 93 employees Deadline for submitting bids: 10/03/2025
		Safra Main features: Business: Design, renovation, manufacture and sale of passenger and freight transport equipment (hydrogen and battery-powered public or freight transport, or any other concept that reduces greenhouse gases) Location: Albi (Tarn) Company registration number: 085 520 195 2024 revenues (estimated) : 7,7 M€ – 2023 revenues: 6,6 M€ Headcount 174 employees Deadline for submitting bids : 04/03/2025
		Groupe Securiguard Main features: Business: Guarding and security Location: Seclin (Nord) Company registration number: 434 688 396 2024 revenues: 5,2 M€ Headcount 144 employees Deadline for submitting bids: 28/02/2025
		SAS Balm Main features: Business: Tyre trading, repair and vulcanisation – Fitting and installation of automotive accessories, tyre balancing and retreading Location: La Fouilleuse (Loire) Company registration number: 389 413 691 2023 revenues: 4,7 M€ – 2022 revenues: 4 M€ – 2021 revenues: 2,6 M€ Headcount 11 employees Deadline for submitting bids: 26/03/2025
		Re-Match France Main features: Business: company specialising in the ecological recycling of artificial turf sports pitches Location: Erstein (Bas-Rhin) Company registration number: 890 481 666 Revenues: 2 M€ Headcount 36 employees Deadline for submitting bids: 25/02/2025