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).

		Avenel and NMA Gestion Main features: Business: Avenel: Building, infrastructure and industry. NMA Gestion: sub-holding company (HR, accounting, purchasing). Location: Darnetal (Seine-Maritime) Company registration number: Avenel : 439 572 926 – NMA Gestion : 424 341 220 2022 revenues: Avenel : 46 M€ – NMA Gestion : 11,3 M€ Headcount: Avenel : 277 employees – NMA Gestion : 34 employees Deadline for submitting bids: 06/11/2023
		Automotive equipment manufacture Main features: Business: Second-tier automotive equipment manufacturer (plastic injection, mould design and production). Location: 5 production sites in Hauts de France, 1 in Romania, 1 in Turkey and 1 in Morocco. 2021 revenues: 35,6 M€ Headcount 380 employees DLDO : 30/11/2023
		Refrigerated transport and logistics in the food sector Main features: Business: Refrigerated transport and logistics in the food sector. Transport of fresh and frozen products, mainly in western France and the Rhône-Alpes region, through a network of four agencies. Location: Nouvelle Aquitaine and Poitou-Charentes 2022 revenues: 35,5 M€ Headcount 310 employees Deadline for submitting bids: 27/10/2023
		Bonton Main features: Business: Purchase and sale of clothing, furniture and accessories for the family, mainly for babies, children, teenagers and women. Location: 7 shops in France, with a subsidiary in the USA and one in Belgium. Company registration number: 428 565 782 2022 revenues: 14,6 M€ – 2021 revenues: 13,6 M€ – 2022 revenues: 11,4 M€ Headcount 86 employees Deadline for submitting bids: 06/11/2023
		National pizzeria group Main features: Business: National pizzeria group. 2022 revenues: 14 M€ – 2021 revenues: 12 M€ – 2020 revenues: 10 M€ – 2019 revenues: 7 M€ Headcount 110 employees Deadline for submitting bids: 17/11/2023
		Repair, purchase and sale of motorbikes Main features: Business: Repair, purchase and sale of new and used motorbikes and leisure equipment, manufacture and sale of spare parts, accessories and gadgets for motorbikes. Location: Marseille (Bouches-du-Rhône) 2022 revenues: 10,2 M€ – 2021 revenues: 10,3 M€ Headcount 19 employees DLDO : 31/10/2023
		Collective catering Main features: Business: Firm 1 : Other catering services. Firm 2 : Collective catering under contract. Location: Gironde 2022 revenues: Firm 1 : 9.7 M€ – Firm 2 : 426 K€ Headcount: Firm 1: 180 employees – Firm 2 : 0 employee Deadline for submitting bids: 17/11/2023
		Construction of single-family homes Main features: Business: Construction of single-family homes. Location: Nouvelle Aquitaine 2022 revenues: 8,3 M€ – 2021 revenues: 9,1 M€ Headcount 30 employees Deadline for submitting bids: 27/10/2023
		Pharmacy Main features: Business: Pharmacy. Location: Paris 2023 revenues: 8,8 M€ Headcount 29 employees Deadline for submitting bids: 03/11/2023
		Galldis (brand Carrefour Market) Main features: Business: Supermarket under the Carrefour Market brand. Location: Gallardon (Eure-et-Loir) Company registration number: 493 693 642 2022 revenues: 8,3 M€ Headcount 27 employees Deadline for submitting bids: 30/10/2023
		Communications strategy agency Main features: Business: Communications strategy agency for Premium brands. It supports its customers in marketing strategy and communications, particularly in the development of brands throughout France. Location: Rhône-Alpes 2022 revenues: 5,4 M€ – 2021 revenues: 5,9 M€ Headcount 25 employees Deadline for submitting bids: 25/10/2023
		Leco Main features: Business: Engineering construction activities (modular wood construction market). Location: Loire valley CA 2022 : 5,2 M€ Headcount 2 employees Deadline for submitting bids: 03/11/2023
		Engineering company specialising in test equipment Main features: Business: Engineering company specialising in test equipment for simulating physical phenomena. Design, manufacture and marketing of test equipment for simulating physical phenomena. Location: Ile-de-France 2022 revenues: 5,1 M€ Headcount 19 employees Deadline for submitting bids: 08/11/2023
		Virtual assistant solution to support sick patients and their families Main features: Business: The development of support solutions for sick patients and their families using virtual assistants, with more than 15 applications dedicated to different diseases. Location: Hérault 2022 revenues: 4,4 M€ – 2021 revenues: 1,9 M€ – 2020 revenues: 1,6 M€ Headcount 46 employees Deadline for submitting bids: 28/10/2023
		Commercial printing Main features: Business: Commercial printing. 2022 revenues: 1,2 M€ Headcount 10 employees Deadline for submitting bids: 03/11/2023