Distressed acquisition opportunities – May 2021

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).

		Lingerie brand Main features: Business: Lingerie brand and network of 58 boutiques (57 leases / 1 real estate asset) Location : Cachan (Val-de-Marne) – 58 stores Headcount 302 employees Company registration number: 409 613 031 2019 revenues: 31,9 M€ Deadline for submitting bids: 27/05/2021
		H3M – Main exploitation of trademarks: La Compagnie des petits and Allobébé Business: Sales of children’s clothing and childcare accessories. Location: Les Pennes Mirabeau (Bouches-du-Rhône) – Branches: 49 stores – Affiliates: 18 stores Headcount 214 employees Company registration number: 382 032 480 2019 revenues: 22,1 M€ Deadline for submitting bids: 14/05/2021
		L’Art de Construire Main features: Business: A real estate development and construction company that has completed nearly 800 buildings. Location: Lissieu (Rhône-Alpes) Headcount 28 employees Company registration number: 797 836 822 2020 revenues: 16,5 M€ – 2019 revenues: 18,5 M€ Deadline for submitting bids: 01/06/2021
		SAS Vabien (Brand Intermarché) Main features: Business: Food distribution company operating a store under the Intermarché brand. Service station 24:24, 6 lanes and parking of 187 places. Shareholder also in RJ (SAS MATAM) thus possibility to take over the shares. Location: Cransac (Aveyron) Headcount 33 employees Company registration number: 328 686 001 2020 revenues: 8,47 M€ Deadline for submitting bids: 26/05/2021
		Association Positive Planet International Main features: Business: Creating development dynamics through three dimensions of the positive economy – impact entrepreneurship – inclusive value chains – financial inclusion Location: headquarters in Courbevoie and 4 regional offices – West and Central Africa (Senegal, Mali, Burkina Faso, Cameroon, Ivory Coast) – Indian Ocean (Madagascar and Union of Comoros) – Southern Africa (South Africa and Lesotho) – Middle East (Egypt, Lebanon and United Arab Emirates) Headcount 84 employees Company registration number: 421 020 033 2020 revenues: 5,8 M€ – 2019 revenues: 4,5 M€ EBE 2020 : 335 K€ – EBE 2019 : 168 K€ Deadline for submitting bids: 19/05/2021
		Alu Concept Main features: Business: Design and manufacture of aluminum windows. Order book: €5.5 million in mid-March and €7 million forecast for 2021 Customers: large accounts (70%) and individuals (30%) Location: Chilly-Mazarin (Essonne) Headcount 27 employees Company registration number: 480 025 378 2020 revenues: 4,7 M€ – 2019 revenues: 5,8 M€ Deadline for submitting bids: 17/05/2021
		Carpentry work Main features: Business: Carpentry work on collective housing sites, purchase order contracts (housing maintenance and upkeep). Location: Rhône-Alpes Workforce: Holding company: 1 employee (administrative services) Subsidiary operating company: 24 employees 2020 revenues: 3,2 M€ Deadline for submitting bids: 17/05/2021
		Operation of two cafeterias Main features: Business: Operation of two cafeterias. Preparation of meals for companies, schools, medical-social centers, vacation centers, leisure centers for the elderly, etc. Location: Vendée Headcount 49 employees 2019 revenues: 2,8 M€ Deadline for submitting bids: 31/05/2021
		Heating – sanitary Main features: Business: Heating – sanitary. Location: Vosges Headcount 23 employees Revenues: 2 M€ Deadline for submitting bids: 31/05/2021
		Electronic design office Main features: Business: Electronic design office. Location: Val d’Oise Headcount 8 employees 2019 revenues: 2 M€ Deadline for submitting bids: 28/05/2021
		Company of transport in bonis – removals and furniture storage Main features: Business: Entreprise de transport in bonis – déménagements et garde meubles. Location: Alpes Maritimes Headcount 8 employees 2019 revenues: 1,4 M€ Deadline for submitting bids: 24/05/2021
		Layout of points of sale Main features: Business: Layout of points of sale. Location: Audomarois (Pas-de-Calais) Headcount 14 employees 2019 revenues: 1,4 M€ Deadline for submitting bids: 18/06/2021
		Manufacture of stainless steel tanks Main features: Business: Manufacture of stainless steel tanks for wineries and/or industry. Own real estate complex (1500 m² / land of 14000m²) – 2 production lines – welding jib with laser camera tracking system – 3 models registered at INPI Location: National territory and marginally export and large export Headcount 21 employees 2020 revenues: 1 M€ – 2019 revenues: 1,9 M€ – 2018 revenues: 3,7 M€ Deadline for submitting bids: 19/05/2021
		Company specialized in the implementation of glass, facades and works of art Main features: Business: Company specialized in the implementation of glass, facades and works of art, referenced in the world of metalwork, locksmithing and glazing. Location: Loiret Headcount 8 employees 2019 revenues: 980 K€ Deadline for submitting bids: 15/05/2021
		Restaurant, brewery Main features: Business: Restaurant, brewery. Location: Paris (XVème) Headcount 3 employees 2019 revenues: 311 K€ Deadline for submitting bids: 20/05/2021
		Romy Main features: Business: Startup specialized in mechatronic and cosmetic R&D. Romy has developed a device that allows the production of customized cosmetic creams for the consumer. Location: Aube Headcount 7 employees Deadline for submitting bids: 31/05/2021
		SCI Le Golfe bleu – Domaine de Beauvallon Main features: Business: Neo-Provençal villa (year of construction 1992-1993). Location: Grimaud (Var) Deadline for submitting bids: 30/06/2021