Distressed acquisition opportunities – February 2024

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).

		Courier and freight forwarding Main features: Business: Transport: courier and freight forwarding services Location: Bourbon-L’Archambault (Allier) 2023 revenues: 53 M€ – 2022 revenues: 57 M€ – Filiale : 7 M€ Headcount more than 900 employees per year Deadline for submitting bids: 29/02/2024
		Property development Main features: Business: Property development (acquisition, creation, ownership and management of all property-related holdings) – Relates solely to a hotel property programme. Headcount 0 employee 2022 revenues: 21,7 M€ Deadline for submitting bids: 04/03/2024
		Flabeg France Main features: Business: Mirror glass (shaping and processing of flat glass, vacuum deposition of thin layers, mainly for the automotive and cosmetics industries) Location: Sarrewerden (Bas-Rhin) Company registration number: 676 680 408 2023 revenues: 15,6 M€ Headcount 118 employees Deadline for submitting bids: 27/02/2024
		Lamarque Sogy Bois Main features: Business: Logging, sawmilling and planing (maritime pine), trading (exclusive distribution of rare woods), manufacture and marketing of parquet flooring, panelling, deck boards, mouldings, etc. Location: Ygos-Saint-Saturnin (Landes) Company registration number: 895 750 107 2022 revenues: 12,1 M€ Headcount 78 employees Deadline for submitting bids: 26/02/2024
		Polyclinique de la Manche Main features: Business: Follow-up and rehabilitation care, in-house pharmacy, consultations – specialising in urology, visceral surgery, anaesthesia, orthopaedics, ophthalmology Location: Saint Lô (Manche) Company registration number: 906 180 047 2023 revenues: 8,7 M€ – 2022 revenues: 9,4 M€ Headcount 103 employees Deadline for submitting bids: 04/03/2024
		Holiday resorts Main features: Business: Management and operation of two holiday villages Location: Corse 2022 revenues: 8,5 M€ – 2021 revenues: 6,2 M€ – 2020 revenues: 4,5 M€ Headcount 10 employees Deadline for submitting bids: 12/02/2024
		Call centres Main features: Business: Group of companies specialising in call centres and telephone research Location: Ile-de-France et Nouvelle Aquitaine 2022 revenues: 7,3 M€ – 2021 revenues: 4,8 M€ Headcount 200 employees Deadline for submitting bids: 26/02/2024
		Maison Coudeyrat Main features: Business: Manufacture, processing, packaging and sale of charcuterie products Location: Périgord Company registration number: 311 547 111 2022 revenues: 6 M€ Headcount 28 employees Deadline for submitting bids: 28/02/2024
		Clinique du Dr Henri Guillard Main features: Business: Surgery (orthopaedics and traumatology, plastic, aesthetic and reconstructive surgery, ophthalmology, rheumatology, visceral and digestive surgery excluding carcinology, urology) Location: Coutances (Manche) Company registration number: 946 520 079 2023 revenues: 5,8 M€ – 2022 revenues: 5,3 M€ Headcount 60 employees Deadline for submitting bids: 04/03/2024
		Foreign language teaching Main features: Business: Modern language teaching and intercultural training Location: Ile-de-France 2023 revenues: 5,7 M€ Headcount 132 employees Deadline for submitting bids: 23/02/2024
		Consulting and integration of IT solutions Main features: Business: An expert in consulting and the integration of IT solutions in the content management market, this ESN is also an IT software publisher. Location: Hauts-de-Seine 2022 revenues: 5 M€ Headcount 41 employees Deadline for submitting bids: 23/02/2024
		Maisons dans les arbres – Nid perché Main features: Business: A company specialising in the creation of unusual wooden accommodation, particularly cabins of all kinds (perched, on stilts, floating, etc.) Location: Beaumontois-en-Périgord (Dordogne) Company registration number: 509 334 967 2022 revenues: 4,8 M€ Headcount 33 employees Deadline for submitting bids: 20/02/2024
		Team Partners Main features: Business: Building engineering – HVAC – Construction economics – Structural engineering – Urban engineering – Electrical engineering – Environmental engineering Location: Lyon (Rhône) Company registration number: 451 587 562 2022 revenues: 4,2 M€ – 2021 revenues: 6,3 M€ – 2020 revenues: 9,3 M€ Headcount 34 employees Deadline for submitting bids: 14/03/2024
		SAS Régis Vaute Main features: Business: Cereals trading Location: Bedarrides (Vaucluse) Company registration number: 712 621 416 2022 revenues: 3,9 M€ – 2021 revenues: 2,7 M€ – 2020 revenues: 3,1 M€ Headcount 5 employees Deadline for submitting bids: 29/02/2024