Distressed acquisition opportunities – November 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).

		Keria Main features: Business: SAS Keria : Sale of lighting products – SAS Lighting : Online sale of lighting products and operation of the “luminairesonline” website – SAS Hoco : Management of franchise contracts – SAS Keria Groupe : Holding company Location: Echriolles (Isère) Company registration number: SAS Keria : 324 904 267 – SAS Lighting : 887 884 187 – SAS Hoco : 513 156 588 – SAS Keria Groupe : 817 854 698 2023 revenues: SAS Keria : 47,8 M€ – SAS Lighting : 1 M€ – SAS Hoco : 917 K€ – SAS Keria Groupe : 14 M€ Headcount : SAS Keria : 329 employees- SAS Lighting : 2 employees- SAS Hoco : 0 employee – SAS Keria Groupe : 3 employees Deadline for submitting bids: 27/11/2023
		Burton of London Main features: Business: Burton of London: distribution of men’s and women’s ready-to-wear clothing. Sauvage Poésie: distribution of fashion, beauty and home decoration products from partner brands. Location: 56 stores in France 2023 revenues: 34,3 M€ – 2022 revenues: 49,8 M€ – 2021 revenues: 50,8 M€ Headcount 198 employees Deadline for submitting bids: 13/11/2023
		Vapiano Main features: Business: 10 Italian restaurants Location: Saint-Laurent-du-Var, Marseille, Plan de Campagne, Aubervilliers, Paris, Lyon, Vendenheim, Blagnac, Lille and Plaisir 2022 revenues: Saint-Laurent-du-Var : 1,5 M€ – Marseille : 1,9 M€ – Plan de Campagne : 2,5 M€ – Blagnac : 1,4 M€ – Euralille : 973 K€ – Vendenheim : 1,3 M€ – Lyon : 2,1 M€ – Paris : 4,5 M€ – Plaisir : 1,6 M€ – Aubervilliers : 1,8 M€ Headcount: Saint-Laurent-Du-Var : 24 employees – Marseille : 23 employees – Plan de Campagne : 42 employees – Blagnac : 28 employees – Euralille : 15 employees – Vendenheim : 23 employees – Lyon : 33 employees – Paris : 49 employees – Plaisir : 27 employees – Aubervilliers : 31 employees Deadline for submitting bids: 27/11/2023
		Huwer Main features: Business: Designer and manufacturer of collective and non-collective wastewater treatment equipment. Location: Ruitz (Pas-de-Calais), Lézigné and Durtal (Maine-et-Loire) Company registration number: 775 632 102 2022 revenues: 20,1 M€ – 2021 revenues: 26,2 M€ – 2020 revenues: 26,2 M€ Headcount: Ruitz : 69 employees – Lézigné : 51 employees – Durtal : 32 employees Deadline for submitting bids: 08/01/2023
		Transport of goods Main features: Business: Transport of goods by commercial vehicles weighing less than 3.5 tonnes (last km). Location: Nouvelle Aquitaine 2022 revenues: 9,3 M€ – 2021 revenues: 8,8 M€ Headcount 153 employees Deadline for submitting bids: 17/11/2023
		Manufacture agricultural machinery – Brand Chargeur+ Main features: Business: Manufacture and distribution of agricultural and construction machinery under the Chargeur+ brand. Location: Poitou-Charentes 2022 revenues: 8,6 M€ – 2021 revenues: 9,3 M€ – 2020 revenues: 6,7 M€ Headcount 32 employees Deadline for submitting bids: 15/12/2023
		Tourist complexes Main features: Business: Operating of tourist complexes and rental residences comprising bare or furnished premises, hotels and restaurants, self-service retail outlets and sports and leisure facilities. Location: Cagnano (Corse) 2022 revenues: 3,2 M€ – 2021 revenues: 3 M€ – 2020 revenues: 1,6 M€ Headcount 5 employees Deadline for submitting bids : 05/01/2024
		Boilermaking and installation of specific equipment for hydroelectricity and methanisation Main features: Business: Consultancy, production of technical studies, manufacture of boilerwork and installation of specific equipment for hydroelectricity and methanisation. Location: Pyrénées-Atlantiques 2022 revenues: 1,7 M€ Headcount 23 employees Deadline for submitting bids: 17/11/2023
		Woodworking company Main features: Business: Company specialising in woodworking, with three activities: sawmilling, parquetry and forestry. Location: Aube CA 2022 : 1,5 M€ Headcount 6 employees Deadline for submitting bids: 17/11/2023
		Research, publishing, sales of books Main features: Business: Research, publishing, sales of books to institutions, distribution, logistics. Location: Oise 2022 revenues: 1,5 M€ – 2021 revenues: 1,5 M€ Headcount 29 employees Deadline for submitting bids: 17/11/2023
		DSL – Brand Adishatz Main features: Business: Subcontractor in the manufacture and marketing of textile products for the Adishatz brand. Location: Saint-Perdon (Landes) Company registration number: 753 905 033 2022 revenues: 1,4 M€ Headcount 15 employees Deadline for submitting bids: 27/11/2023
		Machining, manufacturing and marketing of aluminium profiles Main features: Business: Machining, manufacturing and marketing of aluminium profiles, assembly and programming of home automation systems. Location: PACA 2022 revenues: 1,1 M€ Headcount 5 employees Deadline for submitting bids: 05/12/2023
		Atelier de Louise – La boutique de Chambourcy Main features: Business: Sale of furniture, furnishings and interior and exterior decoration. Location: Chambourcy (Yvelines) Company registration number: 503 604 761 2021 revenues: 995 K€ – 2020 revenues: 827 K€ – 2019 revenues: 1,4 M€ Headcount 2 employees Deadline for submitting bids: 15/12/2023