immeuble Franklin

Distressed acquisition opportunities – October 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).

Minelli

Main features:

  • Business: Retail sale of shoes and leather goods.
  • Location: 102 shops in France and 8 shops abroad
  • Company registration number: 413 157 306
  • 2023 revenues: 67,7 M€
  • Headcount 550 employees
  • Deadline for submitting bids: 08/11/2023

OOGarden

Main features:

  • Business: The leading online retailer of outdoor furniture and gardening products, organised into 7 categories: garden, children, swimming pool, gardening, terrace, kitchen and pets.
  • Location: Ambérieu-en-Bugey (Ain)
  • Company registration number: 488 055 393
  • CA 2022 : 54 M€
  • Headcount 104 employees
  • Deadline for submitting bids: 16/11/2023

SAS François Fondeville

Main features:

  • Business: Construction company specialising in building and public works.
  • Location: 4 sites: Perpignan (Pyrénées-Orientales), Saleilles (Pyrénées-Orientales), Montpellier (Pyrénées-Atlantiques) and Marseille (Bouches-du-Rhône)
  • Company registration number: 381 293 463
  • 2022 revenues: 53,2 M€ – 2021 revenues: 49,9 M€ – 2020 revenues: 49,6 M€
  • Headcount 231 employees
  • Deadline for submitting bids: 27/10/2023

Industrial glassware

Main features:

  • Business: Industrial glassmaking (specialising in pressed glass).
  • Location: Eure
  • 2024 revenues (estimated) : 27 M€
  • Headcount 220 employees
  • Deadline for submitting bids: 23/10/2023

De Biasio

Main features:

  • Business: General masonry – General building contractor.
  • Location: Val de-Reuil (Eure)
  • Company registration number: 327 085 460
  • 2022 revenues: 14,2 M€
  • Headcount 24 employees
  • Deadline for submitting bids: 31/10/2023

Le Quotidien

Main features:

  • Business: Reunion Island’s leading daily press, with an average daily circulation of 15,600 copies.
  • Location: La Réunion
  • Company registration number: 393 614 029
  • 2022 revenues: 10,6 M€ – 2021 revenues: 10,5 M€ – 2020 revenues: 10,8 M€
  • Headcount 53 employees
  • Deadline for submitting bids: 15/11/2023

Cirque Photo Vidéo

Main features:

  • Business: Buying and selling products, articles and accessories related to photography, video and image processing.
  • Location: Paris
  • Company registration number: 401 712 377
  • 2023 revenues: 5,2 M€ – 2022 revenues: 5 M€ – 2021 revenues: 4,7 M€ – 2020 revenues: 7,9 M€
  • Headcount 8 employees
  • Deadline for submitting bids: 07/11/2023

Freight and local road transport

Main features:

  • Business: Freight and local road transport.
  • Location: Chennevières-sur-Marne (Val-de-Marne)
  • 2022 revenues: 5,2 M€ – 2021 revenues: 4,3 M€ – 2020 revenues: 3,2 M€
  • Headcount 31 employees
  • Deadline for submitting bids: 18/10/2023
transport routier

Freight transport

Main features:

  • Business: Freight transport.
  • Location: Saint-Jean-de-Tholome (Haute-Savoie)
  • 2021 revenues: 3,9 M€ – 2020 revenues: 3,9 M€ – 2019 revenues: 5,1 M€
  • Headcount 25 employees
  • Deadline for submitting bids: 30/10/2023

Industrial and professional kitchens

Main features:

  • Business: Design, production, sale and maintenance of industrial and professional kitchens (all equipment and accessories) for local authorities.
  • Location: Gironde
  • 2022 revenues: 3,4 M€
  • Headcount 23 employees
  • Deadline for submitting bids: 20/10/2023

Structural work company

Main features:

  • Business: Structural work company.
  • Location: Noisy-le-Grand (Seine-Saint-Denis)
  • 2022 revenues: 3,2 M€
  • Headcount 11 employees
  • Deadline for submitting bids: 06/11/2023

Heating and air conditioning equipment, stove and pellet sales

Main features:

  • Business: Installation of heating and air-conditioning equipment, sale of stoves and pellets.
  • Location: Provence Alpes Côte d’Azur
  • Headcount 10 employees
  • Deadline for submitting bids: 19/10/2023

IT systems and software consultancy

Main features:

  • Business: Company specialising in IT systems and software consultancy.
  • 2022 revenues: 2,7 M€
  • Headcount 18 employees
  • Deadline for submitting bids: 23/10/2023

Last mile services

Main features:

  • Business: Last-mile” subcontracted services or direct delivery throughout the country for local customers. Urgent deliveries or regular shuttles.
  • Location: Loir-et-Cher
  • 2023 revenues: 2,2 M€
  • Headcount 28 employees
  • Deadline for submitting bids: 13/10/2023