Distressed acquisition opportunities – June 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).

		SEDEV and SNLC Main features: Business: Network of multi-brand ready-to-wear shops and marketplace website under the ‘Des Marques et Vous’ banner, formerly ‘Devianne’. Location: 36 shops in France, mainly in the Hauts-de-France, Grand-Est and Normandy regions Company registration number: SEDEV : 314 515 206 – SNLC : 523 816 189 2023 revenues: SEDEV: 69,2 M€ – SNLC: 1,6 M€ – 2022 revenues: SEDEV: 77,2 M€ – SNLC: 2,5 M€ – 2021 revenues: SEDEV: 73,5 M€ – SNLC: 2,3 M€ Headcount 408 employees Deadline for submitting bids: 03/07/2024
		Groupe Alsos Main features: Business: Design and manufacture of timber structures and timber construction Location: Production sites and agencies throughout France Company registration number: Alsos: 823 146 022 – Elan: 832 759 054 – Entreprise André Roux: 606 820 371 2022/2023 revenues (consolidated): 45 M€ – 2021/2022 revenues (consolidated): 40 M€ Headcount 222 employees Deadline for submitting bids: 14/06/2024
		Altesse Main features: Business: Creation and distribution of jewellery items under the ‘Les Georgettes’ and ‘Les Cadettes’ brands. Wholesale, retail and e-commerce sales. Location: 50 points of sale in France Company registration number: 801 233 925 2023 revenues: 23,3 M€ Headcount 177 employees Deadline for submitting bids: 28/06/2024
		Manufacture of letterboxes for apartment blocks, access doors and gates for apartment blocks Main features: Business: Manufacture of letterboxes for apartment blocks, access doors and gates for apartment blocks, own marketing of linen cupboards. Location: Aisne 2022 revenues: 13,3 M€ – 2021 revenues: 11,6 M€ Headcount 89 employees Deadline for submitting bids: 12/07/2024
		Groupe Renard Main features: Business: Renard Production: Offset and digital printing and finishing specialising in self-copiers. Imprimerie Bellemoise: Offset and digital printing and finishing specialising in large volumes. Location: Orne Company registration number: Renard Production : 300 758 521 – Imprimerie Bellemoise : 341 335 271 2023 revenues: Renard Production: 6,2 M€ – Imprimerie Bellemoise: 2,9 M€ – 2022 revenues: Renard Production: 6 M€ – Imprimerie Bellemoise: 3,2 M€ Headcount: Renard Production: 15 employees – Imprimerie Bellemoise: 18 employees Deadline for submitting bids: 12/07/2024
		Electrical installation work Main features: Business: Electrical installation work on all premises Location: Sotteville-lès-Rouen (Seine Maritime) 2023 revenues: 9,1 M€ – 2022 revenues: 8,3 M€ Headcount 112 employees Deadline for submitting bids: 24/06/2024
		Sofec Main features: Business: Manufacture of kitchen units Location: Aquitaine Company registration number: 320 230 501 2023 revenues: 7,7 M€ Deadline for submitting bids: 20/06/2024
		Roadworks, urban development and maintenance of sewerage networks Main features: Business: Roadworks, urban development and sewer network maintenance in occupied areas for public and private social landlords Location: Ile de France 2023 revenues: 6,1 M€ – 2022 revenues: 13,5 M€ – 2021 revenues: 10,8 M€ – 2020 revenues: 8,9 M€ Headcount 17 employees Deadline for submitting bids: 28/06/2024
		Security and surveillance Main features: Business: Company 1: Security and surveillance of movable and immovable property, using human or electronic security systems. Company 2: Holding Support Location: Ile de France, Bordeaux, Nantes, Metz, Douai, Lyon 2022 revenues: Company 1 : 6,3 M€ – Company 2 : 673 K€ – CA 2021 : Company 1 : 4,4 M€ – CA 2020 : Company 1 : 3,5 M€ Headcount: Company 1: 160 employees – Company 2: 4 employees Deadline for submitting bids: 28/06/2024
		Wooden fittings for shops and offices Main features: Business: Wooden fittings for shops and offices Location: Yonne Company registration number: 811 891 670 2023 revenues: 4,7 M€ – 2022 revenues: 7,3 M€ – 2021 revenues: 11,5 M€ Headcount 49 employees Deadline for submitting bids: 08/07/2024
		Wholesale of electronic and telecommunications components Main features: Business: Wholesale of electronic and telecommunications components and equipment 2023 revenues: 4,5 M€ Headcount 6 employees Deadline for submitting bids: 25/06/2024
		Shipyard Main features: Business: Shipyard in Brittany Location: Quimper (Finistère) 2023 revenues: 4,5 M€ – 2022 revenues: 7,6 M€ Headcount 24 employees Deadline for submitting bids: 25/06/2024
		Bagster Main features: Business: Manufacture of travel goods, leather goods and saddlery Location: La Ferté-Macé (Orne) Company registration number: 897 879 342 2023 revenues: 3,8 M€ – 2022 revenues (15 months): 4,5 M€ Headcount 27 employees Deadline for submitting bids: 05/07/2024
		Actinov – Arpegy Main features: Business: Actinov: Design and manufacture of heating equipment, wood fuel or wood pellets, manufacture of insulation for fireplaces. Arpegy: Trade in technical and decorative accessories for the installation of wood-burning heating appliances, trade in wood-burning heating appliances. Professional customers.. Location: Saint-Yorre (Allier) Company registration number: Actinov : 489 801 035 – Arpegy : 493 599 914 2023 revenues: Actinov : 786 K€ – Arpegy : 3,4 M€ – CA 2022 : Actinov : 776 K€ – Arpegy : 4,2 M€ Headcount: Actinov: 5 employees – Arpegy: 7 employees Deadline for submitting bids: 28/06/2024
		Tile sales and installation business Main features: Business: Tile sales and installation business Location: Moselle 2023 revenues: 3,1 M€ Headcount 33 employees Deadline for submitting bids: 07/07/2024