Distressed acquisition opportunities – July 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).

		Cybersecurity and safety engineering Main features: Business: Company specialising in cybersecurity consulting and safety engineering Location: France, EAU, Nigeria and Afrique du Sud 2022 revenues: 15,2 M€ Headcount : 170, including 92 employees in France Deadline for submitting bids: 28/07/2023
		Company specialising in the manufacture of ready meals Main features: Business: Company specialising in the manufacture of ready meals Location: Haute-Garonne 2022 revenues: 9,3 M€ Headcount 61 employees Deadline for submitting bids: 23/08/2023
		IT services company Main features: Business: IT services company offering solutions for reconciling physical and digital consumer data for marketing purposes, in the form of Saas software (Software as a Service). 2022 revenues: 5,6 M€ – 2021 revenues: 6,1 M€ Headcount 52 employees Deadline for submitting bids: 31/07/2023
		Online sales of electric scooters Main features: Business: E-Commerce website selling mobility solutions, specialising in electric scooters Location: Ile-de-France 2021 revenues: 1,7 M€ – 2020 revenues: 1,8 M€ Deadline for submitting bids: 28/07/2023
		Manufacture, sale, distribution of all products, equipment, cosmetology, perfumery, parapharmacy and spa activities Main features: Business: Manufacture, sale, distribution of all products, equipment, cosmetology, perfumery, parapharmacy, spa, institute activities in France and abroad. Location: Tarn-et-Garonne (production and administrative plant), Haute-Garonne (head office only) 2022 revenues: 1,6 M€ – 2021 revenues: 1,4 M€ Deadline for submitting bids: 31/07/2023
		Comera Main features: Business: Sale of fitted and made-to-measure kitchens Location: Gonfreville l’Orcher and Roumare (Seine-Maritime) Revenues from 30/09/2021 to 30/09/2022 : 1,5 M€ (Gonfreville) – 1,5 M€ (Roumare) Headcount 4 employees (Gonfreville) – 2 employees (Roumare) Deadline for submitting bids: 24/07/2023
		C Pantin Food – KFC franchise restaurant Main features: Business: Operation of a fast-food restaurant business based on chicken specialities under the KFC franchise Location: Pantin (Seine-Saint-Denis) 2022 revenues: 1,38 M€ – 2021 revenues: 1,36 M€ – 2020 revenues: 1,3 M€ Headcount 18 employees Deadline for submitting bids: 15/09/2023
		Isika SAS and Association Projet Isika Main features: Business: Association Projet Isika runs a training programme specialising in professional retraining for IT professions. This is an intensive level 6 certification course delivered entirely remotely in blended learning mode. It holds various approvals required for the training business. Isika SAS carries out all the support functions and educational supervision of the trainees, services which are then re-invoiced to the Isika Project Association, which markets the support training and educational supervision of the trainees. Company registration number: Isika SAS : 835200361 2022 revenues: Association Projet Isika : 712 K€ – Isika SAS : 338 K€ – 2021 revenues: Association Projet : 887K€ – Isika SAS : 343 K€ – 2020 revenues: Association Projet Isika : 407K€ – Isika SAS: 216 K€ Headcount: The association has no employees – Isika SAS: 6 full-time employees Deadline for submitting bids: 25/07/2023
		3 sports clubs for fitness and relaxation Main features: Business: 3 sports clubs for fitness and relaxation Location: Torcy, Servon et Claye-Souilly 2022 revenues: 958 K€ Headcount 23 employees Deadline for submitting bids: 04/08/2023
		Sensory Odyssey Studio Main features: Business: Creation of multi-sensory immersive exhibitions marketed in the form of licences Location: Paris (Ile-de-France) Company registration number: 883 293 631 2022 revenues: 860 K€ – 2021 revenues: 325 K€ Headcount 3 employees (1 fixed-term contract, 1 part-time contract and 1 apprentice) Deadline for submitting bids: 02/08/2023
		Creation, acquisition, sale and operation of all hotel and tourism businesses Main features: Business: Creation, acquisition, sale and operation of all hotel and tourism businesses, as well as all ancillary or ancillary activities (excluding the sale of alcoholic beverages). Location: Aix-en-Provence (PACA) 2022 revenues: 432 K€ Headcount 10 employees Deadline for submitting bids: 31/07/2023
		Areia Main features: Business: Use of marketing data analysis and processing software to assess performance and make budgetary decisions Location: Paris, Lille and Budapest Company registration number: 798 412 979 2022 revenues: 309 K€ Headcount 4 employees in France Deadline for submitting bids: 28/07/2023
		Restaurant business Main features: Business: Restaurant business Location: Nogent-sur-Marne (Seine-et-Marne) 2022 revenues: 383 K€ Headcount 3 employees Deadline for submitting bids: 04/08/2023
		Clinic and nursing home Main features: Business: Society 1: Clinic, Medicine, Surgery, Obstetrics, Emergency – Society 2: Accommodation establishment for dependent elderly people (EHPAD) / Retirement home Location: Lyon area Headcount : Society 1 : 428 employees – Society 2 : 57 employees Deadline for submitting bids: 15/07/2023
		Service robotics made in France Main features: Business: Design and manufacture of service robots for remote presence or logistics requirements Deadline for submitting bids: 24/07/2023