Distressed acquisition opportunities – May 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).

		Groupe Hamon Main features: Business: Engineering – Construction – Maintenance services for industrial equipment (cooling and air treatment). Location: Saint-Denis (Seine-Saint-Denis) Company registration number: Compagnie financière Hamon : 562 079 038 Hamon Thermal Europe : 331 693 507 Headcount 121 employees Compagnie financière Hamon 2021 revenues: 1,6 M€ Hamon Thermal Europe 2021 revenues: 39 M€ Deadline for submitting bids: 02/05/2022
		Groupe Coretec Main features: Business: Coretec: Manufacturing studies and commissioning of assembly lines and robotic islands. Coretec FSO: Design, manufacture and commissioning of machines and assembly lines Propitec: Manufacture of parts, mechanically welded sub-assemblies Coretec Industry Group: Holding Location: Saint-Aubin-du-Cormier (Ille-et-Vilaine) Company registration number: Coretec : 441 058 609 – Coretec FSO : 849 072 822 – Propitec : 750 417 511 – Coretec Industry Group : 750 199 036 Coretec: Headcount 89 employees – Coretec FSO 2021: · Headcount 49 employees – Propitec: Headcount 4 employees – Coretec Industry Group: Headcount 12 employees 2021 revenues: 12,8 M€ – Coretec FSO 2021 revenues: 5,66 M€ – Propitec 2021 revenues: 1,1 M€ – Coretec Industry Group revenues: 2,3 M€ Deadline for submitting bids: 31/05/2022
		The Kase Main features: Business: The Kase company in legal recovery and its subsidiary in court-ordered liquidation with continuation of activity – Sale to the general public of accessories for smartphone and tablets under the sign The Kase and purchase/sale of reconditioned phones. Location: Headquarter in Levallois Perret and stores in France Company registration number: 789 136 314 legal recovery : Headcount 97 employees – court-ordered liquidation : Headcount 110 employees legal recovery 2021 revenues: 23 M€ – court-ordered liquidation 2021 revenues: 8,9 M€ Deadline for submitting bids: 03/05/2022
		Courier – Chartering – Transport Main features: Business: Courier – Chartering – Transport. Location: Aquitaine Headcount 124 employees 2019 revenues: 18,2 M€ – 2020 revenues: 14,7 M€ – 2021 revenues: 14,1 M€ Deadline for submitting bids: 20/05/2022
		Natis Main features: Business: Maintenance of computer peripherals (printers, photocopiers…). Location: Tremblay-en-France (Seine-Saint-Denis) Company registration number: 326 047 933 Headcount 92 employees 2019 revenues: 10,28 M€ – 2020 revenues: 8,07 M€ – 2021 revenues: 7,12 M€ Deadline for submitting bids: 30/05/2022
		Vehicle rental over 3.5 tons Main features: Business: Rental of vehicles over 3.5 tons with drivers for the transport of goods. Location: France and Europe Headcount 53 employees 2020 (12 months) revenues: 4,75 M€ – 2021 (10 months) revenues: 4,6 M€ Deadline for submitting bids: 31/05/2022
		Event-Thaï Traiteur Main features: Business: Semi-industrial company specialized in the subcontracting of manufacturing and distribution of food products, take-away meals mainly for Asian restaurants. Location: Chevilly-Larue (Seine-et-Marne) Company registration number: 450 880 893 Headcount 70 employees 2021 revenues: 2,51 M€ – 2020 revenues: 5,34 M€ Deadline for submitting bids: 03/06/2022
		Secondary building work Main features : Business: Second work building (fence-ironmongery-joinery). Headcount less than 50 employees 2021 revenues: 2,4 M€ Deadline for submitting bids: 27/05/2022
		SMS Abattage découpe Main features: Business: Provision of slaughtering and cutting services of meat and poultry for industrial and conservative customers. Location: La Bazouge-de-Chéméré (Mayenne) Company registration number: 511 372 559 Headcount 39 employees Revenues: 2,2 M€ Deadline for submitting bids: 20/05/2022
		Sale and rental of equipment Main features: Business: Sale and rental of equipment and consumables related to the activities of car garages and dealerships, especially on the Internet. Location: Isère Headcount 24 employees 2020 revenues: 1,34 M€ – 2021 revenues: 1,57 M€ Deadline for submitting bids: 20/05/2022
		Sedimat Main features: Business: Distribution of handling equipment. Location: Seynisset-Pariset (Isère) Company registration number: 071 501 902 Headcount 724 employees 2020 revenues: 1,17 M€ – 2021 revenues: 863 K€ Deadline for submitting bids: 20/05/2022