News
13.06.2024Arnaud Pédron, Laura Bavoux, Numa Rengot

Distressed acquisition opportunities – June 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).

SEDEV and SNLC

Main features:

  • Business: Network of multi-brand ready-to-wear shops and marketplace website under the ‘Des Marques et Vous’ banner, formerly ‘Devianne’.
  • Location: 36 shops in France, mainly in the Hauts-de-France, Grand-Est and Normandy regions
  • Company registration number: SEDEV : 314 515 206 – SNLC : 523 816 189
  • 2023 revenues: SEDEV: 69,2 M€ – SNLC: 1,6 M€ – 2022 revenues: SEDEV: 77,2 M€ – SNLC: 2,5 M€ – 2021 revenues: SEDEV: 73,5 M€ – SNLC: 2,3 M€
  • Headcount 408 employees
  • Deadline for submitting bids: 03/07/2024

Groupe Alsos

Main features:

  • Business: Design and manufacture of timber structures and timber construction
  • Location: Production sites and agencies throughout France
  • Company registration number: Alsos: 823 146 022 – Elan: 832 759 054 – Entreprise André Roux: 606 820 371
  • 2022/2023 revenues (consolidated): 45 M€ – 2021/2022 revenues (consolidated): 40 M€
  • Headcount 222 employees
  • Deadline for submitting bids: 14/06/2024

Altesse

Main features:

  • Business: Creation and distribution of jewellery items under the ‘Les Georgettes’ and ‘Les Cadettes’ brands. Wholesale, retail and e-commerce sales.
  • Location: 50 points of sale in France
  • Company registration number: 801 233 925
  • 2023 revenues: 23,3 M€
  • Headcount 177 employees
  • Deadline for submitting bids: 28/06/2024

Manufacture of letterboxes for apartment blocks, access doors and gates for apartment blocks

Main features:

  • Business: Manufacture of letterboxes for apartment blocks, access doors and gates for apartment blocks, own marketing of linen cupboards.
  • Location: Aisne
  • 2022 revenues: 13,3 M€ – 2021 revenues: 11,6 M€
  • Headcount 89 employees
  • Deadline for submitting bids: 12/07/2024

Groupe Renard

Main features:

  • Business: Renard Production: Offset and digital printing and finishing specialising in self-copiers. Imprimerie Bellemoise: Offset and digital printing and finishing specialising in large volumes.
  • Location: Orne
  • Company registration number: Renard Production : 300 758 521 – Imprimerie Bellemoise : 341 335 271
  • 2023 revenues: Renard Production: 6,2 M€ – Imprimerie Bellemoise: 2,9 M€ – 2022 revenues: Renard Production: 6 M€ – Imprimerie Bellemoise: 3,2 M€
  • Headcount: Renard Production: 15 employees – Imprimerie Bellemoise: 18 employees
  • Deadline for submitting bids: 12/07/2024

Electrical installation work

Main features:

  • Business: Electrical installation work on all premises
  • Location: Sotteville-lès-Rouen (Seine Maritime)
  • 2023 revenues: 9,1 M€ – 2022 revenues: 8,3 M€
  • Headcount 112 employees
  • Deadline for submitting bids: 24/06/2024

Sofec

Main features:

  • Business: Manufacture of kitchen units
  • Location: Aquitaine
  • Company registration number: 320 230 501
  • 2023 revenues: 7,7 M€
  • Deadline for submitting bids: 20/06/2024

Roadworks, urban development and maintenance of sewerage networks

Main features:

  • Business: Roadworks, urban development and sewer network maintenance in occupied areas for public and private social landlords
  • Location: Ile de France
  • 2023 revenues: 6,1 M€ – 2022 revenues: 13,5 M€ – 2021 revenues: 10,8 M€ – 2020 revenues: 8,9 M€
  • Headcount 17 employees
  • Deadline for submitting bids: 28/06/2024

Security and surveillance

Main features:

  • Business: Company 1: Security and surveillance of movable and immovable property, using human or electronic security systems. Company 2: Holding Support
  • Location: Ile de France, Bordeaux, Nantes, Metz, Douai, Lyon
  • 2022 revenues: Company 1 : 6,3 M€ – Company 2 : 673 K€ – CA 2021 : Company 1 : 4,4 M€ – CA 2020 : Company 1 : 3,5 M€
  • Headcount: Company 1: 160 employees – Company 2: 4 employees
  • Deadline for submitting bids: 28/06/2024

Wooden fittings for shops and offices

Main features:

  • Business: Wooden fittings for shops and offices
  • Location: Yonne
  • Company registration number: 811 891 670
  • 2023 revenues: 4,7 M€ – 2022 revenues: 7,3 M€ – 2021 revenues: 11,5 M€
  • Headcount 49 employees
  • Deadline for submitting bids: 08/07/2024

Wholesale of electronic and telecommunications components

Main features:

  • Business: Wholesale of electronic and telecommunications components and equipment
  • 2023 revenues: 4,5 M€
  • Headcount 6 employees
  • Deadline for submitting bids: 25/06/2024

Shipyard

Main features:

  • Business: Shipyard in Brittany
  • Location: Quimper (Finistère)
  • 2023 revenues: 4,5 M€ – 2022 revenues: 7,6 M€
  • Headcount 24 employees
  • Deadline for submitting bids: 25/06/2024

Bagster

Main features:

  • Business: Manufacture of travel goods, leather goods and saddlery
  • Location: La Ferté-Macé (Orne)
  • Company registration number: 897 879 342
  • 2023 revenues: 3,8 M€ – 2022 revenues (15 months): 4,5 M€
  • Headcount 27 employees
  • Deadline for submitting bids: 05/07/2024

Actinov – Arpegy

Main features:

  • Business: Actinov: Design and manufacture of heating equipment, wood fuel or wood pellets, manufacture of insulation for fireplaces. Arpegy: Trade in technical and decorative accessories for the installation of wood-burning heating appliances, trade in wood-burning heating appliances. Professional customers..
  • Location: Saint-Yorre (Allier)
  • Company registration number: Actinov : 489 801 035 – Arpegy : 493 599 914
  • 2023 revenues: Actinov : 786 K€ – Arpegy : 3,4 M€ – CA 2022 : Actinov : 776 K€ – Arpegy : 4,2 M€
  • Headcount: Actinov: 5 employees – Arpegy: 7 employees
  • Deadline for submitting bids: 28/06/2024

Tile sales and installation business

Main features:

  • Business: Tile sales and installation business
  • Location: Moselle
  • 2023 revenues: 3,1 M€
  • Headcount 33 employees
  • Deadline for submitting bids: 07/07/2024