Distressed acquisition opportunities – December 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).

		Etablissements Poulingue Main features: Business: Company specialising in biosourced construction for special works and top-of-the-range housing. Location: Beuzeville (Eure) Company registration number: 386 780 118 Headcount 240 employees 2022 revenues: 49 M€ Deadline for submitting bids: 05/01/2024
		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: 04/01/2024
		Collective catering Main features: Business: Company 1: Contract catering Company 2: Other catering services Headcount: Company 1: 0 employee – Company 2: 180 employees 2022 revenues: Company 1: 426 K€ – Company 2: 9,7 M€ Deadline for submitting bids: 08/01/2024
		Meat production trading Main features: Business: Meat production trading Headcount 41 employees 2022-2023 revenues: 9,4 M€ Deadline for submitting bids: 18/12/2023
		Roofing company Main features: Business: Roofing, waterproofing, carpentry, cladding and asbestos removal company. Lcation: Yonneo Headcount 46 employees 2023 revenues: 7,1 M€ – 2022 revenues: 6,6 M€ – 2021 revenues: 8,3 M€ Deadline for submitting bids: 20/01/2024
		Automated wind technology Main features: Business: Development and marketing of an automated wind technology that moves dynamically to capture wind energy and provide additional traction power for ships. Headcount 100 to 300 employees 2022 revenues: between 2 and 5 M€ Deadline for submitting bids: 22/12/2023
		Lelabour Main features: Business: General masonry work and building shells. Location: Dormans (Marne) and Charly sur Marne (Aisne) Company registration number: Lelabour: 379 119 019 – Lelabour Couverture: 902 838 440 – Leblanc Bâtiment: 438 879 306 2022 revenues: Lelabour: 2 M€ – Lelabour Couverture: 505 K€ – Leblanc Bâtiment: 2,9 M€ Deadline for submitting bids: 15/01/2024
		Distribution of food products Main features: Business: Distribution of food products. 2022 revenues: 3,6 M€ Deadline for submitting bids: 18/12/2023
		Creation and operation of theme parks Main features: Business: Creation and operation of theme parks. Headcount 38 employees 2023 revenues: 3,2 M€ Deadline for submitting bids: 23/01/2024
		General building and civil engineering company Main features: Business: General building and civil engineering company (masonry, painting, plumbing, electricity). Location: Val de Marne 2022 revenues: 3 M€ Headcount 18 employees Deadline for submitting bids: 09/01/2024
		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 and ID4TECH : Annecy (Savoie) – HEIDI4 : Valréas (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: 31/01/2024
		Roto Sieve France Main features: Business: Sale of industrial equipment manufactured by Lackeby, which develops and manufactures leading products in the fields of water treatment and heat exchange. Location: Mesnil-le-Roi (Yvelines) 2022 revenues: 2,2 M€ – 2021 revenues: 2,3 M€ Headcount 5 employees Deadline for submitting bids: 30/01/2024
		Soco Plast Main features: Business: Manufacture of plastic parts by injection. Implantation géographique : Rambouillet (Yvelines) 2022 revenues: 1,7 M€ Headcount 14 employees Deadline for submitting bids: 24/01/2024
		3CB Distribution – Brand: Monop’ Main features: Business: General grocery store under the MONOP’ banner. Location: Blois (Loir-et-Cher) Company registration number: 919 532 408 2023 revenues: 1,6 M€ Headcount 9 employees Deadline for submitting bids: 12/01/2024
		Ateliers d’agencement Garnier Main features : Business: Interior joinery and fittings, mainly for customers. Location: Beynost (Ain) Company registration number: 481 616 233 2022 revenues: 1,6 M€ – 2021 revenues: 965 K€ Headcount 11 employees Deadline for submitting bids: 04/01/2024