Distressed acquisition opportunities – November 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).

		Sale of automotive parts Main features: Business: Sofidest : Holding company Webdelauto: Sale of car parts via internet, shops, corners, distributors Nord Distribution: wholesaler of European spare parts for the group Nippon Pi5 production sites in France and 3 abroadèces Service : Importer and distributor of Asian and European car parts CIA : Internet sales of Asian and European car parts Headcount: Sofidest : 25 employees – Webdelauto : 30 employees – Nord Distribution : 17 employees – Nippon Pièces Service : 21 employees – CIA : 0 employee 2022 revenues: Sofidest : 2 M€- Webdelauto : 14,1 M€ – Nord Distribution : 10,8 M€ – Nippon Pièces Service : 15,1 M€ – CIA : 0,9 M€ Deadline for submitting bids : 22/12/2023
		Automotive equipment manufacturer Main features: Business: Second-tier automotive equipment manufacturer (plastic injection, mould design and production). Location: 5 production sites in France and 3 abroad (Romania, Turkey and Morocco) Headcount 380 employees 2022 revenues: 35,6 M€ Deadline for submitting bids: 30/11/2023
		Tally Weijl Main features: Business: Operation of women’s ready-to-wear shops. Location: 39 stores across France Company registration number: 500 621 263 2022 revenues: 20,2 M€ Headcount 138 employees Deadline for submitting bids: 11/12/2023
		Gil TP Main features: Business: Public and private works, earthworks, public works and civil engineering, piping, power line installations, plant maintenance. Location: Provence Alpes Côte d’Azur Company registration number: 636 880 130 2022 revenues: 12,5 M€ – 2021 revenues: 15,3 M€ Headcount 57 employees Deadline for submitting bids: 13/12/2023
		Printing Daniel Faurite Main features: Business: Printing (pre-press, printing, finishing, storage, logistics). Location: Miribel (Ain) Company registration number: 322 658 758 2023 revenues: 10,5 M€ Headcount 36 employees Deadline for submitting bids: 03/01/2024
		Ekiplus Main features: Business: Manufacture and distribution of agricultural and construction machinery under the Chargeur+ brand (mini-excavators, dumper trucks, loaders). Location: Périgny (Charente Maritime) Company registration number: 481 520 088 2021 revenues: 9,3 M€ – 2020 revenues: 6,7 M€ Headcount 32 employees Deadline for submitting bids: 15/12/2023
		Digital services company Main features: Business: Digital services company for key accounts, specialising in infrastructure, production and operational maintenance. 2022 revenues: 7,3 M€ – 2021 revenues: 9,3 M€ – 2020 revenues: 8,8 M€ Headcount 32 employees Deadline for submitting bids: 15/12/2023
		Special tools for the cold heading, powder compression Main features: Business: Manufacture and sale of special tools for the cold heading, powder compression (pharmaceuticals, detergents, chemicals, etc.), plastics (special mould components) and arms industries. Location: Ile-de-France 2022 revenues: 6,8 M€ Headcount 67 employees Deadline for submitting bids: 08/12/2023
		Rosinski SBIR Main features: Business: Manufacture of unleavened bread and similar products. Location: Neuilly-sur-Marne (Seine-Saint-Denis) Company registration number: 500 874 565 2023 revenues: 6,5 M€ – 2022 revenues: 6,8 M€ – 2021 revenues: 5,5 M€ Headcount 10 employees Deadline for submitting bids: 04/12/2023
		Programming and packaging of electronic chips Main features: Business: Programming and packaging of electronic chips. The company has tools for manufacturing custom-made honeycomb strips and automatic equipment for programming, engraving and 3D inspection. Location: Nouvelle Aquitaine and Centre Val de Loire 2022 revenues: 6,2 M€ – 2021 revenues: 12 M€ Headcount 34 employees Deadline for submitting bids: 15/12/2023
		Design of protective equipment for the construction industry Main features: Business: Design of protective equipment for the construction industry. Location: Saint Pierre de Chandieu (Rhône) 2022 revenues: 5,9 M€ – 2021 revenues: 6,1 M€ – 2020 revenues: 4,2 M€ Headcount 17 employees Deadline for submitting bids: 19/01/2024
		Mr Bricolage Main features: Business: Shop selling DIY equipment and interior and exterior design and decoration items. Location: Yzeure (Allier) 2022 revenues: 5,2 M€ Headcount 21 employees Deadline for submitting bids: 01/12/2023
		On-board telematics Main features: Business : Marketing of an on-board telematics solution to measure the volume of fuel in the tank. Location: Marseille (Bouches-du-Rhône) 2022 revenues: 5 M€ Headcount 25 employees Deadline for submitting bids : 07/12/2023
		Home help Main features: Business: Home help association for the elderly and disabled Location: Vienne (Isère) 2022 revenues: 4,9 M€ – 2021 revenues: 4,7 M€. Headcount 154 employees Deadline for submitting bids: 12/12/2023