Distressed acquisition opportunities – June 2023

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).

		Flink Main features: Business: On-demand delivery of everyday items direct to consumers Location: Paris, Lille , Lyon, Bordeaux, Nantes, Marseille, Montpellier, Toulouse and Nice 2022 revenues: 34,1 M€ Headcount 557 employees Deadline for submitting bids: 03/07/2023
		Intermarché Main features: Business: Operation of a predominantly food retail business under the Intermarché banner, including a service station Location: Nétreville (Eure) 2022 revenues: 17,1 M€ – 2021 revenues: 16,2 M€ Headcount 58 employees Deadline for submitting bids: 03/07/2023
		Intermarché Main features: Business: Operation of a predominantly food retail business under the Intermarché banner, including a service station Location: Evreux (Eure) 2022 revenues: 16 M€ – 2021 revenues: 18 M€ Headcount 57 employees Deadline for submitting bids: 03/07/2023
		Intermarché Main features: Business: Operation of a predominantly food retail business under the Intermarché banner, including a service station Location: Ivry-la-Bataille (Eure) 2022 revenues: 14,4 M€ – 2021 revenues: 13,7 M€ Headcount 33 employees Deadline for submitting bids: 03/07/2023
		Steel structure buildings Main features: Business: Customised metal structures, roofing, cladding and metalwork Location: Vaugneray (Rhône-Alpes) 2021 revenues: 11,9 M€ – 2020 revenues: 9,3 M€ – 2019 revenues: 8,7 M€ Headcount 35 employees Deadline for submitting bids: 28/06/2023
		Ridorail Main features: Business: Sales of wooden and steel curtain poles to major food retailers and DIY stores in Europe. Location: Estissac (Aube) Company registration number: 572 143 857 2022 revenues: 10,4 M€ Headcount 24 employees Deadline for submitting bids: 30/06/2023
		ADAPAC Main features: Business: Home help and support services (SAAD) Location: Brive-la-Gaillarde (Corrèze) 2022 revenues: 9,6 M€ – 2021 revenues: 9,3 M€ Headcount 352 employees Deadline for submitting bids: 03/07/2023
		Company specialising in metalwork Main features: Business: A company specialising in metalwork, steel and aluminium joinery, metal constructions and fittings for the building and public works industries, operating nationwide for public (80%) and private (20%) customers. Location: Nîmes (Gard) 2022 revenues: 5,8 M€ – 2021 revenues: 5,2 M€ Headcount 36 employees Deadline for submitting bids: 07/07/2023
		Event sales website Main features: Business: Operation of a website for online sales events for men’s products from clearance sales 2022 revenues: 4,3 M€ Headcount 11 employees Deadline for submitting bids: 20/06/2023
		Négocéane Main features: Business: Electrical equipment trade Location: Le Havre (Seine-Maritime) Company registration number: 519 926 885 2022 revenues: 4,1 M€ Headcount 9 employees Deadline for submitting bids: 30/06/2023
		Facade renovation Main features: Business: Facade renovation, interior and exterior painting, exterior insulation Location: Brittany 2022 revenues: 3 M€ Headcount 30 employees Deadline for submitting bids: 07/07/2023
		1Kubator Opérations Main features: Business : Support for newly-created companies (Start Up models) and advice for companies in the field of innovation Location: Lyon (Rhône-Alpes) Company registration number: 823 947 486 2022 revenues: 2,5 M€ Headcount 57 employees Deadline for submitting bids: 22/06/2023
		Supporting autistic people Main features: Business: Specialising in support for people with autism spectrum disorders Location: Nice (Alpes-Maritimes) 2022 revenues: 2 M€ Headcount 62 emloyees Deadline for submitting bids: 26/06/2023
		Restaurants Main features: Business: Traditional catering inspired by the 4 corners of the world, on the premises or to take away Location: Paris (2e, 6e,9e,10e,,11e) and Ivry-sur-Seine 2022 revenues: 2,1 M€ – 2021 revenues: 1,7 M€ Headcount 35 employees Deadline for submitting bids: 07/07/2023
		Software publisher Main features: Business: Software publisher specialising in the development of design and business studios and cost configuration (CPQ) Location: 2 establishments (Haute-Savoie and Haute-Garonne) 2022 revenues: 1,9 M€ Headcount 37 employees Deadline for submitting bids: 20/06/2023