Distressed acquisition opportunities – July 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, Laura Bavoux 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).

		FTI Voyages Main features: Business: Tour operator Location: Blotzheim (Haut-Rhin) Company registration number: 945 851 996 2023 revenues: 164,7 M€ Headcount 8 employees Deadline for submitting bids: 22/07/2024
		Carrere Promotion Main features: Business: Specialized in real estate development Location: France Company registration number: 810 914 754 2024 forecast revenues: 123 M€ Headcount: > 75 employees Deadline for submitting bids: 26/07/2024
		Metal product manufacturing Main features: Business: Company 1: Manufacture of metal products except machinery and equipment – Company 2: Specialized construction work – Company 3: Manufacture of metal products except machinery and equipment – Company 4: Non-specialized wholesale – Company 5: Holding company Location: Vallée du Rhône et Alsace Company 1 2023 revenues: 17,4 M€ – Company 2 revenues 2023: 2,8 M€ – Company 3 revenues 2023: 558 K€ – Company 4 revenues: 257 K€ – Company 5 revenues 2023: 1,1 M€ Headcount Company 1 130 employees – Company 2 25 employees – Company 3 10 employees – Company 4 0 employees – Company 5 1 employee Deadline for submitting bids: 31/07/2024
		Surface treatment Main features: Business: Regional leader in surface treatment and coating (paint) Location: Lyon region – 3 sites (operations and logistics) (to be sold together or separately) 2022 revenues: 8,6 M€ Headcount 47 employees Deadline for submitting bids: 10/09/2024
		Online sales Main features: Business: Online sales of workwear, safety footwear and personal protective equipment Location: 3 branches: Paris 2023 revenues: 3,4 M€ Headcount 6 employees Deadline for submitting bids: 15/07/2024
		Thevenet Fils Main features: Business: Sale, repair and maintenance of all refrigeration-related equipment. Trade, equipment for the catering trade (kitchen, air conditioning) Location: Paray le Monial (Saône-et-Loire) Company registration number: 300 734 936 2023 revenues: 2,8 M€ – 2022 revenues: 3,7 M€ Headcount 16 employees Deadline for submitting bids: 28/07/2024
		Consulting agency Main features: Business: Communications consultancy, advertising catalog design and outsourced printing, specializing in mass retailing Location: Rhône Alpes region, Lyon and surrounding area Head office: Limonest (Rhône) 2023 revenues: 2,8 M€ Headcount 5 employees Deadline for submitting bids: 19/07/2024
		Domaine de la Petite Isle Main features: Business: Hotel and lodging company Location: L’Isle-sur-la-Sorgue (Vaucluse) Company registration number: 844 797 407 2023 revenues 2,5 M€ Headcount 12 employees (excluding seasonal workers) Deadline for submitting bids: 30/08/2024
		Technique design conception Main features: Business: Installation, decoration, interior and exterior fittings for all commercial, industrial and residential premises – Installation of wood joinery, furniture making and cabinet making. Location: Lons (Pyrénées-Atlantiques) Company registration number: 351 433 446 2023 revenues: 2,1 M€ – 2022 revenues: 4,2 M€ Headcount 17 employees Deadline for submitting bids: 16/09/2024
		Evya funéraire HFOP Main features: Business: Funeral service provider (Funeral transport, thanatopraxy, sale of funeral articles and formalities relating to the activity and organization of undertakers) Location: Asnières-sur-Seine (Hauts-de-Seine) Company registration number: 844 396 028 2023 revenues: 2 M€ – 2022 revenues: 2,3 M€ Headcount 21 employees Deadline for submitting bids: 29/07/2024
		SBS Main features: Business: Specialist in the field of timber framing and construction Location: Les Marais Sud St Martin Bellevue à Filière (Haute-Savoie) 2023 revenues (12 months): 1,8 M€ – 2022 revenues:1,5 M€ – 2021 revenues: 1,6 M€ Headcount 15 employees Deadline for submitting bids: 26/07/2024
		7 Fashion Main features: Business: Clothing workshop (women’s lingerie, men’s underwear, swimwear) Location: Bourg-en-Bresse (Ain) Company registration number: 801 268 848 2023 revenues: 1,1 M€ Headcount 32 employees Deadline for submitting bids: 23/07/2024
		Electrical installation Main features: Business: Electrical installation Location: Marseille (Bouches-du-Rhône) 2022 revenues: 1 M€ Headcount 5 employees Deadline for submitting bids: 30/07/2024