13.08.2024

Distressed acquisition opportunities – August 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, 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).

		Milee Main features: Business: Print distribution company, promotions, sales events, publishing of all types of printed matter. Location: Marseille (Bouches du Rhône) Company registration number: 315 549 352 2023 revenues: 193 M€ Headcount 5000 employees Deadline for submitting bids: 02/09/2024
		AST Groupe – DPLE – Maisons Idesoz – POBI Main features: Business: Group specialising in the construction of single-family homes, property development and land development, manufacture of timber-frame kits, housing modules, PVC and aluminium frames and joinery. Company registration number: AST Groupe : 392 549 820 – DPLE : 402 308 985 – Maisons Ideoz : 825 266 984 – POBI : 450 625 082 2023 revenues: 179 M€ Headcount 368 employees (AST Groupe : 131 employees – DPLE : 123 employees – Maisons Ideoz : 9 employees – POBI : 105 employees) Deadline for submitting bids: 30/09/2024
		Maisons Clair Logis Main features: Business: Single-family home builder (CMI), multi-regional non-builder Location: Alençon (Orne) Company registration number: 775 629 173 2022 revenues: 24,9 M€ Headcount 51 employees Deadline for submitting bids: 30/08/2024
		Haras des Grillons Main features: Business: Breeding and trading of horses and other equidae, and all related activities in the equine industry Location: Paris Company registration number: 750 161 929 2020 revenues: Between 14,5 and 15 M€ Headcount: Between 15 and 20 employees Deadline for submitting bids: 19/08/2024
		Group specialising in the catering trade Main features: Business: Group specialising in catering (4 companies). Catering, patisserie, bakery, sommellerie, confectionery, chocolate-making, ice cream, tearoom, kitchen, restaurant, events Location: Paris 2023 revenues: 11 M€ Headcount: Subsidiary 1 : 124 employees – Subsidiary 2 : 6 employees Deadline for submitting bids: 12/09/2024
		SAS Femat Main features: Business: Distribution of materials (energy renovation), advice and financing Location: Dardilly (Rhône-Alpes) Company registration number: 530 162 171 2023 revenues: 10,9 M€ – 2022 revenues: 9 M€ – 2021 revenues: 10,5 M€ Headcount 17 employees Deadline for submitting bids: 16/09/2024
		E-commerce sales platforms Main features: Business: Design, development and production of e-commerce sales platforms Location: France et Espagne Revenues: 6,7 M€ Headcount 70 employees
		Decotech Main features: Business: Company specialising in the design, manufacture and installation of aluminium joinery Location: Rillieux-la-Pape (Rhône-Alpes) Company registration number: 328 921 556 2024 revenues: 6 M€ Headcount 35 employees Deadline for submitting bids: 13/09/2024
		Building construction Main features: Business: Company specialising in the construction of tertiary buildings and warehouses Location: Houilles (Yvelines) 2023 revenues: 5,3 M€ – 2022 revenues: 7,8 M€ – 2021 revenues: 5,1 M€ Headcount 20 employees Deadline for submitting bids: 06/09/2024
		Digital fashion Main features: Business: A leader in digital fashion, the company owns and co-owns embodied brands (licences), for which it manages collection design, manufacturing (mainly in France), communication and distribution. 2022 revenues: 5,3 M€ Headcount 0 employee Deadline for submitting bids: 23/09/2024
		Agricultural machinery Main features: Business: Purchase, sale and repair of agricultural machinery, landscaping equipment and dealerships for leading brands in the sector Location: Alès et Bagnols (Gard) Revenues: Company 1: 3,3 M€ – Company 2: 546 K€ Headcount: Company 1: 14 employees – Company 2: 2 employees Deadline for submitting bids: 30/08/2024
		Foundry Main features: Business: Sand casting of aluminium alloys. The finished products are designed for professionals in industry, robotics, energy, nuclear power, street furniture and art Location: Rhône 2024 revenues: 2,4 M€ – 2023 revenues: 2,5 M€ – 2022 revenues: 2,3 M€ Headcount 24 employees Deadline for submitting bids: 06/09/2024
		Manufacture and installation of joinery Main features: Business: Manufacture and installation of aluminium, steel and PVC joinery Location: Aube 2022 revenues: 1,3 M€ Headcount 15 employees Deadline for submitting bids: 06/09/2024
		Payment solution for teenagers with parental control Main features: Business: Payment solution for teenagers with parental control Location: Paris 2023 revenues: 1,36 M€ Headcount 18 employees Deadline for submitting bids: 02/09/2024