News
23.10.2024Arnaud Pédron, Laura Bavoux, Numa Rengot

Distressed acquisition opportunities – October 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 RengotLaura 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).

Vencorex France (a subsidiary of the Vencorex group) / Vencorex TDI

Main features:

  • Business: Upstream phase: Production of salt, chlorine, caustic soda and hydrogen – Downstream phase: Production of aliphatic isocyanates and derivatives for industrial paints and coatings
  • Location: Saint-Priest and Saint-Fons (Rhône Alpes), Pont de Chaix (Isère) and Hauterives (Drôme)
  • Company registration number: Vencorex France : 444 187 884 – Vencorex TDI : 504 868 183
  • 2023 revenues: 209 M€
  • Headcount 464 employees
  • Deadline for submitting bids: 21/10/2024

Apats Marseille

Main features:

  • Business: Association – Access to health services: 1 clinic, 2 dental centres and 1 medical equipment shop
  • Location: Marseille (Bouches du Rhône)
  • Company registration number: 791 730 021
  • 2023 revenues: 29 M€
  • Headcount 301 employees
  • Deadline for submitting bids: 31/10/2024

Intermarché supermarket

Main features:

  • Business: Intermarché supermarket
  • Location: Le Havre (Seine Maritime)
  • 2023 revenues: 20 M€
  • Headcount 69 employees
  • Deadline for submitting bids: 22/11/2024

Industrial cleaning

Main features:

  • Business: Industrial cleaning, mainly in the health, transport, tertiary and agri-food sectors
  • Location: Marseille (Bouches du Rhône)
  • 2023 revenues: 13,5 M€
  • Headcount 550 employees
  • Deadline for submitting bids: 15/11/2024

DG Holidays

Main features:

  • Business: Holiday villages / Campsites / Tourist residences
  • Location: Multiple sites
  • Company registration number: 523 822 112
  • 2023 revenues: 10,8 M€ – 2022 revenues: 12,7 M€ – 2021 revenues: 9,7 M€
  • Headcount 90 employees
  • Deadline for submitting bids: 14/11/2024

Real estate agency

Main features:

  • Business: Real estate agency
  • Location: Montreuil (Seine Saint Denis)
  • 2023 revenues: 7,9 M€ – 2022 revenues: 7,8 M€
  • Headcount 49 employees
  • Deadline for submitting bids: 15/11/2024

MicronMax (Dieuze site)

Main features:

  • Business: All activities related to the metallurgical industry (purchase and sale, import-export of industrial equipment)
  • Location: Charbonnières-les-Bains (Rhône Alpes) et antenne à Dieuze (Meurthe et Moselle)
  • 2024 revenues (14 months) : 4,5 M€
  • Headcount 57 employees
  • Deadline for submitting bids: 07/11/2024

France Inox Industrie

Main features:

  • Business: Business of designing, manufacturing, processing, purchasing, selling, marketing and distributing street furniture and professional kitchens.
  • Location: Saubusse (Landes)
  • Company registration number: 824 789 713
  • 2023 revenues: 3 M€
  • Headcount 19 employees
  • Deadline for submitting bids: 15/12/2024

Groupe Secma Cabon

Main features:

  • Business: Manufacture of machinery for the agri-food industry
  • Location: Quimper (Finistère)
  • Company registration number: 321 017 170
  • 2023 revenues: 2,8 M€
  • Headcount 12 employees
  • Deadline for submitting bids: 31/10/2024

Lailand

Main features:

  • Business: Manufacture, production, distribution and sale of cheeses (in particular oriental cheeses)
  • Location: Aubigny-aux-Kaisnes (Aisne)
  • Company registration number: 439 220 286
  • 2023 revenues: 2,7 M€
  • Headcount 12 employees
  • Deadline for submitting bids:: 12/11/2024

CMB Industrie

Main features:

  • Business: Study, design and manufacture of removable containers and customised metal structures (excluding containers)
  • Location: Saint-Étienne-de-Saint-Geoirs (Isère)
  • Company registration number: 490 313 053
  • 2023 revenues: 2,1 M€ – 2022 revenues: 2,4 M€ – 2021 revenues: 2,3 M€
  • Headcount 14 employees
  • Deadline for submitting bids:: 25/10/2024
service à la personne

Operation of an residential facility for dependent elderly people

Main features:

  • Business: Operation of an residential facility for dependent elderly people “EPHAD” (80 beds, no residents following ARS decision)
  • Location: PACA Region
  • 2023 revenues: 1,5 M€
  • Headcount 42 employees
  • Deadline for submitting bids:: 04/11/2024
service à la personne

Social services without accommodation

Main features:

  • Business: Social services without accommodation
  • Location: Pyrénées-Atlantiques
  • 2023 revenues: 2 M€
  • Headcount 76 employees
  • Deadline for submitting bids:: 25/10/2024

Marketing of an interactive reading console for children

Main features:

  • Business: Marketing of an interactive reading console for children
  • Location: Paris
  • 2023 revenues: 246,3 K€
  • Headcount 9 employees
  • DLDO : 12/11/2024