News
30.11.2022Arnaud Pédron, Numa Rengot

Distressed acquisition opportunities – November 2022

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).

 

Harbour handling

Main features:

  • Business: Harbour handling: terminal operator and operational holding company.
  • Location: Le Havre (Seine-Maritime)
  • Headcount: 265 dockworkers (operator) and 31 employees (holding)
  • 2021 revenues: 27 M€ (operator) and 42 M€ (holding)
  • Deadline for submitting bids: 19/12/2022

SAS Lafontaine 64 – SARL Liberté Automobile Holding

Principales caractéristiques :

  • Business: SAS LAFONTAINE 64 : Marketing of new and used vehicles in multi-brand dealerships.
    SARL LIBERTE AUTOMOBILE HOLDING: Holding company holding all the shares of 4 car centres and a company operating as a spare parts wholesaler.
  • Location: Headquarters : Bassussarry (Pyrénées-Atlantiques) – Automobile centers : Pau (Pyrénées-Atlantiques), Tarbes (Hautes-Pyrénées) and Saint-Paul-lès-Dax (Landes)
  • Company registration number: SAS LAFONTAINE 64 : 602 720 328
  • Headcount: SAS LAFONTAINE 64 : 24 employees – SARL LIBERTE AUTOMOBILE HOLDING : 2 employees
  • 2021 SAS LAFONTAINE 64 revenues: 21,5 M€
    2021 LIBERTE AUTOMOBILE HOLDING revenues: 237 K€
  • Deadline for submitting bids: 20/12/2022

Ready-to-wear Jeanswear and Sportswear

Main features:

  • Business: Design and marketing of ready-to-wear Jeanswear and Sportswear lines.
  • Location: Seine-Saint-Denis
  • Headcount 36 employees
  • 2021 revenues: 18,3 M€ – 2020 revenues: 15,1 M€ – 2019 revenues: 15,9 M€
  • Deadline for submitting bids: 20/12/2022

General electrical company

Main features:

  • Business: General electrical company.
  • Location: Ozoir-la-Ferrière (Seine-et-Marne)
  • Headcount 18 employees
  • 2021 revenues: 7,2 M€
  • Deadline for submitting bids: 16/12/2022

Raub Brest

Main features:

  • Business: Company specialising in painting (interior and exterior) and flooring.
  • Location: Guilers (Finistère)
  • Company registration number: 636 820 524
  • Headcount 50 employees
  • 2022 revenues (31/01/22) : 4,22 M€
  • Deadline for submitting bids: 16/12/2022
transport routier

Road freight transport

Main features:

  • Business: Road freight transport.
  • Location: Baraqueville (Aveyron)
  • Headcount 37 employees
  • 2021 revenues: 4 M€ – 2020 revenues: 4 M€
  • DLDO : 20/01/2023

Forum

Main features:

  • Business: Layout and design of bakeries.
  • Location: Echauffour (Orne)
  • Company registration number: 347 020 034
  • Headcount 33 employees
  • 2021 revenues: 3,4 M€ – 2020 revenues: 4,2 M€
  • Deadline for submitting bids: 09/01/2023
transport routier

Road freight transport

Main features:

  • Business : Road freight transport.
  • Location: Toulouse (Haute-Garonne) and Nantes (Loire-Atlantique)
  • Headcount 21 employees
  • 2021 revenues: 2,6 M€
  • Deadline for submitting bids: 05/12/2022

Boilermaking and industrial sheet metal work

Main features:

  • Business: Boilermaking and industrial sheet metal work: manufacture of parts for large monobloc industrial silos and nuclear plant heat exchangers.
  • Location: Headquarters: Seine-Saint-Denis – Plant: Eure-et-Loir
  • Headcount 28 employees
  • 2022 revenues (30/09/22) : 2,2 M€ – 2021 revenues: 1,6 M€ – 2020 revenues: 5,4 M€
  • Deadline for submitting bids: 13/12/2022

Standard earthworks and preparatory works

Main features:

  • Business: Standard earthworks and preparatory works.
  • Location: Eure-et-Loir
  • Headcount 15 employees
  • 2021 revenues: 2 M€
  • Deadline for submitting bids: 20/12/2022

Magic Makers – Edtech

Main features:

  • Business: Organisation of workshops to learn computer code and programming for children between 7 and 18 years old.
  • Location: Paris
  • Headcount 89 employees
  • 2022 revenues (project) : 1,8 M€
  • Deadline for submitting bids: 21/12/2022

Tyre sales

Main features:

  • Business: Tyre sales.
  • Location: Seine-Saint-Denis
  • Headcount 7 employees
  • 2022 revenues: 1,2 M€
  • Deadline for submitting bids: 09/12/2022

Industrial maintenance

Main features:

  • Business: Industrial maintenance: preparation of machines and mechanical equipment, in the sectors of boiler making, mechanical welding, piping, mechanics, machining, automation and maintenance of production lines.
  • Location: Seine-Saint-Denis
  • Headcount 19 employees
  • 2022 revenues: 1,1 M€ – 2021 revenues: 3,2 M€ – 2020 revenues: 2,8 M€
  • Deadline for submitting bids: 13/12/2022