News
10.07.2024Arnaud Pédron, Laura Bavoux, Numa Rengot

Distressed acquisition opportunities – July 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).

FTI Voyages

Main features:

  • Business: Tour operator
  • Location: Blotzheim (Haut-Rhin)
  • Company registration number: 945 851 996
  • 2023 revenues: 164,7 M€
  • Headcount 8 employees
  • Deadline for submitting bids: 22/07/2024

Carrere Promotion

Main features:

  • Business: Specialized in real estate development
  • Location: France
  • Company registration number: 810 914 754
  •  2024 forecast revenues: 123 M€
  • Headcount: > 75 employees
  • Deadline for submitting bids: 26/07/2024

Metal product manufacturing

Main features:

  • Business: Company 1: Manufacture of metal products except machinery and equipment – Company 2: Specialized construction work – Company 3: Manufacture of metal products except machinery and equipment – Company 4: Non-specialized wholesale – Company 5: Holding company
  • Location: Vallée du Rhône et Alsace
  • Company 1 2023 revenues: 17,4 M€ – Company 2 revenues  2023: 2,8 M€ – Company 3 revenues  2023: 558 K€ – Company 4 revenues: 257 K€ – Company 5  revenues 2023: 1,1 M€
  • Headcount Company 1 130 employees – Company 2 25 employees – Company 3 10 employees – Company 4 0 employees – Company 5 1 employee
  • Deadline for submitting bids: 31/07/2024

Surface treatment

Main features:

  • Business: Regional leader in surface treatment and coating (paint)
  • Location: Lyon region – 3 sites (operations and logistics) (to be sold together or separately)
  • 2022 revenues: 8,6 M€
  • Headcount 47 employees
  • Deadline for submitting bids: 10/09/2024

Online sales

Main features:

  • Business: Online sales of workwear, safety footwear and personal protective equipment
  • Location: 3 branches: Paris
  • 2023 revenues: 3,4 M€
  • Headcount 6 employees
  • Deadline for submitting bids: 15/07/2024

Thevenet Fils

Main features:

  • Business: Sale, repair and maintenance of all refrigeration-related equipment. Trade, equipment for the catering trade (kitchen, air conditioning)
  • Location: Paray le Monial (Saône-et-Loire)
  • Company registration number: 300 734 936
  • 2023 revenues: 2,8 M€ – 2022 revenues: 3,7 M€
  • Headcount 16 employees
  • Deadline for submitting bids: 28/07/2024

Consulting agency

Main features:

  • Business: Communications consultancy, advertising catalog design and outsourced printing, specializing in mass retailing
  • Location: Rhône Alpes region, Lyon and surrounding area
    Head office: Limonest (Rhône)
  •  2023 revenues: 2,8 M€
  • Headcount 5 employees
  • Deadline for submitting bids: 19/07/2024

Domaine de la Petite Isle

Main features:

  • Business: Hotel and lodging company
  • Location: L’Isle-sur-la-Sorgue (Vaucluse)
  • Company registration number: 844 797 407
  • 2023 revenues 2,5 M€
  • Headcount 12 employees (excluding seasonal workers)
  • Deadline for submitting bids: 30/08/2024

Technique design conception

Main features:

  • Business: Installation, decoration, interior and exterior fittings for all commercial, industrial and residential premises – Installation of wood joinery, furniture making and cabinet making.
  • Location: Lons (Pyrénées-Atlantiques)
  • Company registration number: 351 433 446
  • 2023 revenues: 2,1 M€ – 2022 revenues: 4,2 M€
  • Headcount 17 employees
  • Deadline for submitting bids: 16/09/2024

Evya funéraire HFOP

Main features:

  • Business: Funeral service provider (Funeral transport, thanatopraxy, sale of funeral articles and formalities relating to the activity and organization of undertakers)
  • Location: Asnières-sur-Seine (Hauts-de-Seine)
  • Company registration number: 844 396 028
  • 2023 revenues: 2 M€ – 2022 revenues: 2,3 M€
  • Headcount 21 employees
  • Deadline for submitting bids: 29/07/2024

SBS

Main features:

  • Business: Specialist in the field of timber framing and construction
  • Location: Les Marais Sud St Martin Bellevue à Filière (Haute-Savoie)
  • 2023 revenues (12 months): 1,8 M€ – 2022 revenues:1,5 M€ – 2021 revenues: 1,6 M€
  • Headcount 15 employees
  • Deadline for submitting bids: 26/07/2024

7 Fashion

Main features:

  • Business: Clothing workshop (women’s lingerie, men’s underwear, swimwear)
  • Location: Bourg-en-Bresse (Ain)
  • Company registration number: 801 268 848
  • 2023 revenues: 1,1 M€
  • Headcount 32 employees
  • Deadline for submitting bids: 23/07/2024

Electrical installation

Main features:

  • Business: Electrical installation
  • Location: Marseille (Bouches-du-Rhône)
  • 2022 revenues: 1 M€
  • Headcount 5 employees
  • Deadline for submitting bids: 30/07/2024