News
06.11.2023Arnaud Pédron, Numa Rengot

Distressed acquisition opportunities – October 20233

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).

Second-tier automotive subcontractor

Main features:

  • Business: Second-tier automotive subcontractor. Cutting, stamping and assembly (automated process)
  • Location: Loiret
  • 2023 revenues: 20 M€
  • Headcount 67 employees
  • Deadline for submitting bids: 30/11/2023

Group of gardening companies

Main features:

  • Business:
    Agrisix, MAT29 and Agri Bannalec: Sale of DIY, garden and motorbike products.
    Société Nouvelle Floricane: Sale of DIY, garden, motorbike and motorboat products, lighting, household equipment and garden centres.
    Logifimat: Logistics business.
  • Location: Finistère
  • Company registration number: Agrisix : 333 190 759 – MAT29 : 394 340 947 – Agri Bannalec : 342 138 583 – Société Nouvelle Floricane : 752 259 150 – Logifimat : 808 965 883
  • 2022 revenues: Agrisix : 3,4 M€ – MAT29 : 3,6 M€ – Agri Bannalec : 4,3 M€  – Société Nouvelle Floricane : 7,3 M€ – Logifimat : 12 M€
  • Headcount: Agrisix : 21 employees – MAT29 : 17 employees – Agri Bannalec : 21 employees – Société Nouvelle Floricane : 42 employees – Logifimat : 2 employees
  • Deadline for submitting bids: 30/11/2023

Public works, earthworks, roads

Main features:

  • Business: Public works, earthworks, roads.
  • Location: Lille Metropole and the Audomarois region
  • 2022 revenues: 16,5 M€ – 2021 revenues: 16,9 M€
  • Headcount 71 employees
  • Deadline for submitting bids: 04/12/2023

Groupe Erold

Main features:

  • Business: Group specialising in online news media (general news, health, well-being) aimed at a senior audience: operation of the Planet.fr, Médisite and Esanté websites.
  • Location: Paris
  • Company registration number: Erold: 412 001 547 – Planet Publishing: 439 658 634 – Planet Advertising: 803 719 186
  • 2022 revenues: Erold: 3,4 M€ – Planet Publishing: 1,2 M€ – Planet Advertising: 3,6 M€
  • Headcount: Erold: 16 employees – Planet Publishing: 7 employees – Planet Advertising: 4 employees
  • Deadline for submitting bids: 17/11/2023

Photography

Main features :

  • Business: School photography and photography production.
  • Location: Ile-de-France, Rhône-Alpes et Eure.
  • 2022 revenues: 5,8 M€ – 2021 revenues: 7,1 M€ – 2020 revenues: 4,8 M€
  • Headcount 92 employees
  • Deadline for submitting bids: 21/11/202

Groupe ID4

Main features :

  • Business: ID4FEED: Production and distribution of feed, feed supplements, additives, raw materials, welfare and hygiene products for farm animals.
    ID4TECH: Biotechnology research and development.
    HEIDI4: Holding company.
  • Location: ID4FEED et ID4TECH : Annecy (Savoie) – HEIDI4 : Valreas (Vaucluse)
  • Company registration number: ID4FEED : 830 093 209 – ID4TECH : 849 079 918 – HEIDI4 : 879 548 659
  • 2022 revenues: 2,3 M€ – 2021 revenues: 3,7 M€
  • Headcount 10 employees
  • Deadline for submitting bids: 30/11/2023

Restaurant “Le Bibent”

Main features :

  • Business: Restaurant “Le Bibent” specialising in traditional cuisine, located on Place du Capitole.
  • Location: Toulouse (Haute-Garonne)
  • 2022 revenues: 5 M€ – 2021 revenues: 3,7 M€ – 2020 revenues: 3,9 M€
  • Headcount 49 employees
  • Deadline for submitting bids: 29/11/202

SAS Charles CIP

Main features:

  • Business: Specialising in the wholesale (business-to-business) of various industrial supplies and equipment.
  • Location: Val-de-Reuil (Eure)
  • Company registration number: 380 244 350
  • 2022 revenues: 4,5 M€
  • Headcount 24 employees
  • Deadline for submitting bids: 17/11/2023
transport routier

SARL JJF

Main features :

  • Business: Goods transport LV and HGV
  • Location: Niort (Deux-Sèvres)
  • Company registration number: 380 244 350
  • 2022 revenues: 4,1 M€ – 2021 revenues: 3,7 M€ – 2020 revenues: 3,6 M€
  • Headcount 52 employees
  • Deadline for submitting bids: 08/12/2023

Design, construction and maintenance of energy and communications networks

Main features :

  • Business: Design, construction and maintenance of energy and communications networks.
  • Location: Head office and main branch: Grenoble – Wiring workshop (in-house): Claix – Secondary establishment: Saint Priest
  • 2022 revenues: 4,1 M€
  • Headcount 21 employees
  • Deadline for submitting bids: 30/11/2023

SAS Créalettres – Marques Epopia

Main features:

  • Business: Publication of books, letters for children, playing cards, children’s boxes.
  • Location: Schiltigheim (Bas-Rhin)
  • Company registration number: 802 547 562
  • 2023 revenues: 3,7 M€
  • Deadline for submitting bids: 20/12/2023

SAS Direct

Main features:

  • Business: Distribution of free printed advertising and newspapers to letterboxes.
  • Location: Lorraine
  • 2022 revenues: 3,4 M€
  • Headcount 214 employees
  • Deadline for submitting bids: 23/11/2023

FMB Industrie

Main features:

  • Business: Second-tier automotive equipment manufacturer.
  • Location: Hauts-de-France
  • Company registration number: 429 428 360
  • 2022 revenues: 2,7 M€
  • Headcount 24 employees
  • Deadline for submitting bids: 06/11/2023

SAS Entomojo

Main features:

Business: Design, development and sale of insect protein-based food and non-food products for animals.
Brands: Tomojo, Moush, Entovet.

  • Company registration number: 833 515 505
  • 2022 revenues: 1,2 M€
  • Headcount 3 employees
  • Deadline for submitting bids: 17/11/2023