News
13.08.2024Arnaud Pédron, Laura Bavoux, Numa Rengot

Distressed acquisition opportunities – August 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).

Milee

Main features:

  • Business: Print distribution company, promotions, sales events, publishing of all types of printed matter.
  • Location: Marseille (Bouches du Rhône)
  • Company registration number: 315 549 352
  • 2023 revenues: 193 M€
  • Headcount 5000 employees
  • Deadline for submitting bids: 02/09/2024

AST Groupe – DPLE – Maisons Idesoz – POBI

Main features:

  • Business: Group specialising in the construction of single-family homes, property development and land development, manufacture of timber-frame kits, housing modules, PVC and aluminium frames and joinery.
  • Company registration number: AST Groupe : 392 549 820 – DPLE : 402 308 985 – Maisons Ideoz : 825 266 984 – POBI : 450 625 082
  • 2023 revenues: 179 M€
  • Headcount 368 employees (AST Groupe : 131 employees – DPLE : 123 employees – Maisons Ideoz : 9 employees – POBI : 105 employees)
  • Deadline for submitting bids: 30/09/2024

Maisons Clair Logis

Main features:

  • Business: Single-family home builder (CMI), multi-regional non-builder
  • Location: Alençon (Orne)
  • Company registration number: 775 629 173
  • 2022 revenues: 24,9 M€
  • Headcount 51 employees
  • Deadline for submitting bids: 30/08/2024

Haras des Grillons

Main features:

  • Business: Breeding and trading of horses and other equidae, and all related activities in the equine industry
  • Location: Paris
  • Company registration number: 750 161 929
  • 2020 revenues: Between 14,5 and 15 M€
  • Headcount: Between 15 and 20 employees
  • Deadline for submitting bids: 19/08/2024

Group specialising in the catering trade

Main features:

  • Business: Group specialising in catering (4 companies). Catering, patisserie, bakery, sommellerie, confectionery, chocolate-making, ice cream, tearoom, kitchen, restaurant, events
  • Location: Paris
  • 2023 revenues: 11 M€
  • Headcount: Subsidiary 1 : 124 employees – Subsidiary 2 : 6 employees
  • Deadline for submitting bids: 12/09/2024

SAS Femat

Main features:

  • Business: Distribution of materials (energy renovation), advice and financing
  • Location: Dardilly (Rhône-Alpes)
  • Company registration number: 530 162 171
  • 2023 revenues: 10,9 M€ – 2022 revenues: 9 M€ – 2021 revenues: 10,5 M€
  • Headcount 17 employees
  • Deadline for submitting bids: 16/09/2024

E-commerce sales platforms

Main features:

  • Business: Design, development and production of e-commerce sales platforms
  • Location: France et Espagne
  • Revenues: 6,7 M€
  • Headcount 70 employees
fenetre reprise logis service

Decotech

Main features:

  • Business: Company specialising in the design, manufacture and installation of aluminium joinery
  • Location: Rillieux-la-Pape (Rhône-Alpes)
  • Company registration number: 328 921 556
  • 2024 revenues: 6 M€
  • Headcount 35 employees
  • Deadline for submitting bids: 13/09/2024

Building construction

Main features:

  • Business: Company specialising in the construction of tertiary buildings and warehouses
  • Location: Houilles (Yvelines)
  • 2023 revenues: 5,3 M€ – 2022 revenues: 7,8 M€ – 2021 revenues: 5,1 M€
  • Headcount 20 employees
  • Deadline for submitting bids: 06/09/2024

Digital fashion

Main features:

  • Business: A leader in digital fashion, the company owns and co-owns embodied brands (licences), for which it manages collection design, manufacturing (mainly in France), communication and distribution.
  • 2022 revenues: 5,3 M€
  • Headcount 0 employee
  • Deadline for submitting bids: 23/09/2024

Agricultural machinery

Main features:

  • Business: Purchase, sale and repair of agricultural machinery, landscaping equipment and dealerships for leading brands in the sector
  • Location: Alès et Bagnols (Gard)
  • Revenues: Company 1: 3,3 M€ – Company 2: 546 K€
  • Headcount: Company 1: 14 employees – Company 2: 2 employees
  • Deadline for submitting bids: 30/08/2024

Foundry

Main features:

  • Business: Sand casting of aluminium alloys. The finished products are designed for professionals in industry, robotics, energy, nuclear power, street furniture and art
  • Location: Rhône
  • 2024 revenues: 2,4 M€ – 2023 revenues: 2,5 M€ – 2022 revenues: 2,3 M€
  • Headcount 24 employees
  • Deadline for submitting bids: 06/09/2024
fenetre reprise logis service

Manufacture and installation of joinery

Main features:

  • Business: Manufacture and installation of aluminium, steel and PVC joinery
  • Location: Aube
  • 2022 revenues: 1,3 M€
  • Headcount 15 employees
  • Deadline for submitting bids: 06/09/2024

Payment solution for teenagers with parental control

Main features:

  • Business: Payment solution for teenagers with parental control
  • Location: Paris
  • 2023 revenues: 1,36 M€
  • Headcount 18 employees
  • Deadline for submitting bids: 02/09/2024