Distressed acquisition opportunities – April 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 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).

		Ascometal Hagondange Main features: Business: Electric steelworks with vertical casting to guarantee extremely clean steel, rolling mill for round bars with diameters ranging from 16 to 100 mm, finishing, heat treatment and non-destructive testing Location: Hagondange (Moselle) Company registration number: 834 895 013 2022 revenues: 260,4 M€ Headcount 437 employees Deadline for submitting bids: 25/04/2024
		Ascometal Fos-sur-Mer Main features: Business: Electric steelworks for ingot production, guaranteeing extremely clean steels for rolling applications; large-sized (80 to 325 mm) bloom and round bar rolling mill; 5 to 25 mm thread rolling mill; finishing heat treatment and non-destructive testing Location: Fos-sur-Mer (Bouches-du-Rhône) Company registration number: 834 895 591 2022 revenues: 214 M€ Headcount 328 employees Deadline for submitting bids: 25/04/2024
		Noovista Go Main features: Business: Company engaged in the production of amino acids by fermentation, mainly for livestock Location: Amiens (Somme) 2023 revenues: 127 M€ – 2022 revenues: 221 M€ Headcount 296 employees Deadline for submitting bids: 06/05/2024
		Ascometal Custines le Marais Main features: Business: Automotive bar and component finishing and conversion sites at Custines (cold conversion and machining) and Le Marais (cold conversion); peening and non-destructive testing lines and surface finishing and chamfering Location: Custines (Meurthe-et-Moselle) Company registration number: 834 895 799 2022 revenues: 102,7 M€ Headcount 105 employees Deadline for submitting bids: 25/04/2024
		Ascometal France Holding Main features: Business: Holding company and operation of the CREAS research and development centre (specialising in the development of products and manufacturing processes for special steels) Location: Hagondange (Moselle) Company registration number: 834 895 500 2022 revenues: 20,3 M€ Headcount 86 employees Deadline for submitting bids: 25/04/202
		Imperiales Wheels Main features: Business: Design, manufacture, forging and sale of aluminium alloy wheels, all ferrous and/or non-ferrous equipment, forged and/or unforged Location: Belleville (Rhône-Alpes) Company registration number: 909 784 423 2022 revenues: 14 M€ Headcount 181 employees Deadline for submitting bids: 29/04/2024
		Rouxlor Main features: Business: Manufacture of hard capsules for pharmaceutical and dietary laboratories Location: La Ciotat (Bouches-du-Rhône) Company registration number: 411 734 163 2023 revenues (project) : 10,5 M€ – 2022 revenues: 11,7 M€ – 2021 revenues: 11,2 M€ Headcount 77 employees Deadline for submitting bids: 19/04/2024
		Metex Noovista Main features: Business: A company specialising in the production of bio-based propanediol and butyric acid for the cosmetics, nutrition and materials markets Location: Saint Avold (Moselle) 2023 revenues: 6,2 M€ – 2022 revenues: 6,6 M€ Headcount 45 employees Deadline for submitting bids: 30/04/2024
		Road haulage Main features: Business: All road haulage activities using vehicles over 3.5 tonnes and public road haulage of goods, hire of industrial vehicles for road haulage with drivers 2022 revenues: 6,1 M€ Deadline for submitting bids: 19/04/2024
		Secpit Main features: Activité : Company specialising in plumbing, heating and ventilation for social landlords, public bodies, property developers, trade unions and private individuals (Ile-de-France region) Location: Gennevilliers (Hauts-de-Seine) Company registration number: 622 004 513 2022 revenues: 5,9 M€ Headcount 18 employees Deadline for submitting bids: 24/04/2024
		Agence continentale de sécurité (ACS) Main features: Business: Private security Location: Douvres-la-Délivrande (Calvados) Company registration number: 412 663 874 Headcount 151 employees 2022 revenues: 3,4 M€ – 2021 revenues: 3,1 M€ – 2020 revenues: 4,6 M€ Deadline for submitting bids: 26/04/202
		Saint Germain du Plain Distribution Main features: Business: Retail – Supermarket Location: Ouroux-sur-Saône (Saône-et-Loire) Company registration number: 831 935 762 Headcount 469 employees 2022 revenues: 2 M€ – 2021 revenues: 2,1 M€ Deadline for submitting bids: 30/04/2024