Distressed acquisition opportunities – March 2022

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).

		Manufacturer of carpentry Main features: Business: Manufacturer of wood, aluminum, PVC or mixed joinery. Dealer of roller shutters, garage doors and entrance doors. Location: Dordogne Headcount 247 employees 2021 revenues: 31,8 M€ – 2020 revenues: 28 M€ – 2019 revenues: 20,1 M€ Deadline for submitting bids: 31/03/2022
		General building company Main features: Business: General building company specialized in demolition, cleaning, structural work, masonry, plastering and tiling. Location: Ile-de-France Headcount 24 employees Company registration number: 350 657 300 2020 revenues: 13,3 M€ – 2019 revenues: 17,8 M€ Deadline for submitting bids: 30/03/2022
		Transport Comata Main features: Business: Road transport of food liquids, freight forwarder. Location: Feuchy (Pas-de-Calais) Headcount 90 employees Company registration number: 784 379 539 2021 revenues: 12 M€ – 2020 revenues: 14,5 M€ Deadline for submitting bids: 31/03/2022
		Eupec Pipecoatings France Main features: Business: Coating of steel pipes and accessories for the onshore and offshore pipeline industry. Location: Grande Synthe (Hauts-de-France) Headcount 61 employees Company registration number: 339 858 219 2021 revenues: 9,5 M€ – 2020 revenues: 10,67 M€ Deadline for submitting bids: 18/03/2022
		Airport and port security activity Main features: Business: Airport and port security activity. Location: Petrto Bicchisano (Corse) Headcount 111 employees 2020 revenues: 9,1 M€ – 2019 revenues: 14,6 M€ Deadline for submitting bids: 28/03/2022
		BSL Pipes & Fittings Main features: Business: Manufacturing, transformation, production, marketing of metallurgical parts. Location: Billy-sur-Aisne (Aisne) Headcount 68 employees Company registration number: 432 329 639 2021 revenues: 7,6 M€ – 2020 revenues: 12,4 M€ – 2019 revenues: 14,8 M€ Deadline for submitting bids : 28/03/2022
		Chosset Luchessa Main features: Business: Construction and metal joinery. Location: Val d’Oise Headcount 34 employees Company registration number: 350 657 300 2021 revenues: 6,9 M€ – 2020 revenues: 9,5 M€ – 2019 revenues (13 months) : 11,5 M€ Deadline for submitting bids: 29/03/2022
		Wholesaling Main features: Business: Wholesale of hardware and household goods. Location: Thionville (Moselle) Headcount 25 employees 2020 revenues: 6,5 M€ Deadline for submitting bids: 15/03/2022
		Hair care Main features: Business: Hair care sector: retail and wholesale margin. Location: Paris / Bordeaux / Nantes / Mouvaux / Arras / Besançon / Bruz / Béziers / Toulouse / Lyon / Marseille / Montpellier / Douains / Le Havre Headcount 56 employees 2021 revenues: 6,5 M€ – 2020 revenues: 6,6 M€ – 2019 revenues: 8,6 M€ Deadline for submitting bids: 16/03/2022
		Precision machining of parts Main features: Business: Precision machining of small and medium series titanium parts, and precision mechanics. Location: Haute-Savoie Headcount 79 employees Operating revenues: 2020 : 5,4 M€ – 2019 : 9,4 M€ Deadline for submitting bids: 18/03/2022
		Printing of newspapers Main features: Business : Printing of newspapers. Location: Vitrolles (Bouches-du-Rhône) Headcount 33 employees 2021 revenues: 3,6 M€ – 2020 revenues: 5 M€ Deadline for submitting bids : 25/03/2022
		Biom’up Main features: Business: Research and development, production and marketing of an innovative and unique technology based on a hemostatic medical device (Hemoblast Bellows) based on patented bipolymeters to assist surgical teams in controlling surgical bleeding. Location: Saint Priest (Rhône) Company registration number: 879 438 398 Headcount 62 employees 2021 revenues: 4,1 M€ Deadline for submitting bids: 28/03/2022
		ENBTP Main features: Business: Masonry, carpentry, electricity with industrial contracts. Location: Haute-Normandie Headcount 20 employees Company registration number: 442 678 801 2020/2021 revenues: 3,4 M€ Deadline for submitting bids: 25/03/2022
		Masonry, tiling, window installation, plasterboard Main features: Business: Masonry, tiling, window installation, plasterboard. Location: Le Mans (Sarthe) Headcount 21 employees 2021 revenues: 2,7 M€ – 2020 revenues: 2,8 M€ Deadline for submitting bids: 07/03/2022
		Work on wet networks, roads and landscaping Main features: Business : Work on wet networks, roads and landscaping. Location: Languedoc – Roussillon Headcount 15 employees 2021 revenues: 2,7 M€ – 2020 revenues: 2,8 M€ Deadline for submitting bids : 25/03/2022
		Training center for electrical authorizations Main features: Business: Training center for electrical authorizations / Teaching and training. Location: Languedoc – Roussillon Headcount 22 employees 2020 revenues: 1 M€ – 2019 revenues: 1,8 M€ Deadline for submitting bids: 21/03/2022
		Computer software Main features: Business: Design, development, publishing and operation of computer software. Location: Boulogne-Billancourt (Hauts-de-Seine) Headcount 22 employees 2021 revenues: 437 K€ – 2020 revenues: 264 K€ – 2019 revenues : 321 K€ Deadline for submitting bids: 23/03/2022