Distressed acquisition opportunities – August 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).

		Maison de la Literie Main features: Business: Manufacture and distribution of bedding products. Location: Autun (Saône-et-Loire) and Confolens (Charente) Company registration number: 350 151 197 2022 revenues: 67,6 M€ Headcount 231 employees Deadline for submitting bids: 11/09/2023
		Compagnie aérienne inter régionale express (CAIRE) Main features: Business: Inter-regional express airline – 28 destinations served, 500,000 passengers carried. Company registration number: 804 555 779 2022 revenues: 32 M€ – 2021 revenues : 32,1 M€ Headcount 311 employees Deadline for submitting bids: 01/09/2023
		Les maisons rennaises Main features: Business: Company specialising in the construction of single-family homes. Location: Rennes (Ille-et-Vilaine) Company registration number: 389 813 148 2022 revenues: 25,9 M€ Headcount 37 employees Deadline for submitting bids: 15/09/2023
		Programming, consultancy and other IT activities Main features: Business: Programming, consultancy and other IT activities. 2022 revenues: 20 M€ Headcount 200 employees Deadline for submitting bids: 24/08/2023
		Groupe Sebbin Main features: Business: Manufacture and sale of silicone prostheses and implants for cosmetic and reconstructive surgery. Location: Boissy l’Aillerie (Val d’Oise) Company registration number: 519 665 467 2022 revenues: 19 M€ – 2021 revenues: 20,98 M€ Headcount 135 employees Deadline for submitting bids: 06/09/2023
		Velcorex since 1828 Main features: Business: Creation and finishing of fabrics for the clothing industry. Location: Saint-Amarin (Haut-Rhin) Company registration number: 524 799 822 2021 revenues: 18,9 M€ Headcount 92 employees Deadline for submitting bids: 25/08/2023
		BioSerenity Main features: Business: BioSerenity Holding of the BioSerenity Group, leader in “Health as a Service” (“HaaS”) solutions based on technological platforms and connected ambulatory diagnostic equipment enhanced by artificial intelligence for the diagnosis of patients suffering from chronic diseases – BioSerenity France: Diagnostic activity for sleep disorders, neurological disorders and cardiological disorders in France, linked to the equipment and software developed by the rest of the Group. Company registration number: 799 995 782 2022 revenues: BioSerenity : 1,15 M€ – BioSerenity France : 15,82 M€ – 2021 revenues: BioSerenity : 46,51 M€ – BioSerenity France : 12,42 M€ Headcount: BioSerenity 142 employees – BioSerenity France 159 employees Deadline for submitting bids: 18/09/2023
		France Equipement Main features: Business: French manufacturer and distributor of mechanical parts for 2/3-wheelers. Location: Varennes-Vauzelles (Nièvre) Company registration number: 337 688 212 2022 revenues: 14,5 M€ – 2021 revenues: 14,3M€ – 2020 revenues: 12,3 M€ Headcount 57 employees Deadline for submitting bids: 08/09/2023
		Klaxcar France Main features: Business: A company specialising in the manufacture and distribution of aftermarket automotive parts, with more than 8,000 own-brand products in 76 countries. Location: Dourdan (Essonne) Company registration number: 393 455 670 2022 revenues: 10,67M€ Headcount 39 employees Deadline for submitting bids: 29/08/2023
		Supermarket with a focus on food Main features: Business: Mainly food supermarket. Location: Marseille (Bouches-du-Rhône) 2022 revenues: 7,4 M€ – 2021 revenues: 7,6 M€ Headcount 42 employees Deadline for submitting bids: 18/08/2023
		Services for people at home Main features: Business: Services for people at home. Location: Guadeloupe 2022 revenues: 7,3 M€ Headcount 250 employees Deadline for submitting bids: 28/08/2023
		Interior fittings and plasterwork Main features: Business: Interior fittings and plasterwork; specialising in demountable and removable partitions, suspended ceilings, interior joinery, technical boards, thermal insulation and acoustic treatment. Location: Hauts-de-France 2022 revenues: Firm 1 : 7,2 M€ – Firm 2 : 520 K€ Headcount: Firm 1 : 34 employees – Firm 2 : 3 employees Deadline for submitting bids: 29/09/2023
		Plebac – Top Toit Main features: Business: Plebac: Roofing, cladding and waterproofing. Top Toit : Roof maintenance and renovation service. Location: Sud-Ouest Company registration number: 453 128 944 2022 revenues: 6,8 M€ Headcount 30 employees Deadline for submitting bids: 25/08/2023
		Brico Cash Main features: Business: Distribution company for DIY and household equipment. Location: Seine-et-Marne 2022 revenues: 5,8 M€ – 2021 revenues: 7,4 M€ Headcount 23 employees Deadline for submitting bids: 04/09/2023
		Public works company Main features: Business: Public works company, earthworks, external works (with a declared inert waste recycling site). Location: Var 2022 revenues: 5,7 M€ – 2021 revenues (15 months): 8,8 M€ Headcount 43 employees Deadline for submitting bids: 08/09/2023
		Novotel hotel Main features: Business: 4-star Novotel hotel with 156 rooms. Distribution des produits. Location: Saint-Denis (Seine-Saint-Denis) 2022 revenues: 5,2 M€ – 2021 revenues: 1,9 M€ Headcount 33 employees Deadline for submitting bids: 30/09/2023
		La Bouche rouge Main features: Business: Development and production of 25 cosmetics (lipstick, mascara, perfume, etc.) with “clean” formulas in fully refillable and recyclable cases. Development of formulas in our own formulation laboratory. Product distribution. Location: Paris Company registration number: 825 073 091 2022 revenues: 3,7 M€ Headcount 33 employees Deadline for submitting bids: 30/08/2023
		I-lunch Main features: Business: Sustainable and ethical company catering without on-site cooking through the “Fraiche Cafétéria”, “Fraiche Cantine”, “Frigo connecté” and “Fraiche Traiteur” concepts. Location: Champigny-sur-Marne (Val-de-Marne) Company registration number: 827 971 904 2022 revenues: 3,3 M€ – 2021 revenues: 2,3 M€ Headcount 60 employees Deadline for submitting bids: 12/09/2023
		Philea Textiles Main features: Business: Design, creation, development, marketing, distribution, import-export of all fabrics. Location: Saint-Amarin (Haut-Rhin) Company registration number: 420 008 542 2021 revenues: 3,1 M€ Headcount 18 employees Deadline for submitting bids: 25/08/2023
		Transports et TP Hirschner Matt Main features: Business: Public works and transport business. Location: Duppigheim (Bas-Rhin) Company registration number: 318 099 082 2021 revenues: 2,9 M€ Headcount 10 employees Deadline for submitting bids: 07/09/2023
		Mycloud3D Main features: Business: 3D software for property professionals. Location: Paris Company registration number: 791 636 046 2022 revenues: 2,4 M€ Headcount 26 employees Deadline for submitting bids: 08/09/2023
		Electrical installation work Main features: Business: Electrical installation work in all premises. Location: Seine-et-Marne 2022 revenues: 2,1 M€ – 2021 revenues: 4 M€ Headcount 6 employees Deadline for submitting bids: 11/09/2023
		Building work Main features: Business: Building work, construction, building renovations, construction information, roofing, structural studies. Location: Val-de-Marne 2021 revenues: 1,9 M€ Headcount 5 employees Deadline for submitting bids: 06/09/2023
		SAS Emmanuel Lang Main features: Business: Weaving. Location: Saint-Amarin (Haut-Rhin) Company registration number: 799 234 737 2021 revenues: 1,5 M€ Headcount 32 employees Deadline for submitting bids: 25/08/2023
		Bending, shearing, punching, welding, contract manufacturing Main features: Business: Bending, shearing, punching, welding, contract manufacturing (aluminium, steel and stainless steel). Location: Yvelines 2022 revenues: 1,4 M€ Headcount 7 employees Deadline for submitting bids: 15/09/2023
		Maison Henry Jullien Main features: Business: Manufacture of luxury eyewear. Location: Lons-le-Saunier (Jura) Company registration number: 892 385 329 2022 revenues: 1,4 M€ Headcount 18 employees Deadline for submitting bids: 04/08/2023
		Chemical analysis instruments Main features: Business: Development, manufacture and marketing of chemical analysis instruments and all related activities, in particular online marketing.. Location: Saint-Victoret (Bouches-du-Rhône) 2022 revenues: 1,3 M€ Headcount 24 employees Deadline for submitting bids: 25/09/2023
		Quatre (Revues XXI, 6 mois, La revue dessinée et Topo) Main features: Business: Editing, production, publication, distribution and broadcasting of fiction and non-fiction works in all forms and on all media. Organisation of events or any events related to the publishing business. Location: Paris Company registration number: 840 394 415 2022 revenues: 1,2 M€ Headcount 9 employees Deadline for submitting bids: 04/09/2023
		One D Dental Main features: Business: Dental group. Location: La Défense (Hauts-de-Seine) 2022 revenues: Firm 1 : 292 K€ – Firm 2 : 872 K€ – Firm 3 : 131 K€ Headcount: Firm 1 : 0 employee – Firm 2 : 19 employees – Firm 3 : 1 employee Deadline for submitting bids: 24/08/2023
		Abattoir du Bas Quercy Main features: Business: Slaughter of beef animals (cattle, calves, pigs, sheep and horses), around 3,000 tonnes a year. Location: Montauban (Tarn-et-Garonne) Company registration number: 879 710 648 2022 revenues: 1,1 M€ – 2021 revenues: 1 M€ Headcount 16 employees Deadline for submitting bids: 11/08/2023
		Publisher of social networking software and prevention services Main features: Business: Publisher of social networking software and prevention services. Location: Levallois-Perret (Hauts-de-Seine) 2022 revenues: 616 K€ Headcount 15 employees Deadline for submitting bids: 28/08/2023
		Pulse Origin Main features: Business: French company with French tech accreditation, expert in the design, study, development and marketing of hardware and digital solutions based on wireless technologies. Location: Grenoble (Isère) Company registration number: 804 555 779 2022 revenues: 232 K€ Headcount 7 employees Deadline for submitting bids: 04/09/2023
		Preventive cyber security software Main features: Business: Preventive cyber security software. Location: Gap (Hautes-Alpes) 2022 revenues: 200 K€ Headcount 12 employees Deadline for submitting bids: 11/09/2023
		La Ruche à vélos Main features: Business: The design, manufacture and installation of innovative, automated and secure technical solutions designed to meet the need for eco-responsible urban travel, in particular through the design, production, installation, marketing and operation of bicycle parking facilities. Location: Nantes (Loire-Atlantique) Company registration number: 881 164 867 2021 revenues: 92 K€ – 2020 revenues: 239 K€ Headcount 16 employees Deadline for submitting bids: 31/08/2023