News
02.02.2023Arnaud Pédron, Numa Rengot

Distressed acquisition opportunities – February 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).

 

Groupe ANVI

Main features:

  • Business:
    1 – In the context of an investment, a share buyback or a proposed disposal plan:
    – SAS Groupe Anvi (in RJ): holding company holding +/- 100% of the capital of the 4 subsidiaries
    – SAS Groupe Anvi (in RJ): design, production and marketing of plastic products for the garden, medical and industrial sectors. 2 production techniques: injection and blowing.
    2 – as a priority in the context of a share buyback, for the subsidiaries in bonis :
    – SAS Plazur: trading in single-use or reusable packaging approved for the transport of dangerous goods;
    – SAC Poetic: distribution of plastic garden products – customers: mass retail
    – SCI Loisirs et Jardins: owner of the main operating site.
  • Location: Saône-et-Loire and Ain
  • Company registration number: Anvi Plasturgie : 834 296 378 – Plazur : 383 709 037 – Poetic : 726 620 040
  • Headcount : Anvi Plasturgie : 125 employees – Plazur : 4 employees – Poetic : 53 employees
  • 2021 revenues: Anvi Plasturgie : 31 M€ – Plazur : 12 M€ – Poetic : 34 M€
  • Deadline for submitting bids: 15/03/2023

Fromagerie de la Meix Biogram

Main features:

  • Business: Manufacture and marketing of organic dairy products, cheeses (soft, pressed cooked and uncooked), fresh products (yoghurts, fromage frais, desserts), creamery products (cream, butter) and drinking milk (sterilised).
  • Location: Production site in Reillon (Meurthe-et-Moselle) and logistics site in Château-Salins (Moselle), new site in Dieuze (Moselle)
  • Company registration number: 334 766 722
  • Headcount 42 employees.
  • 2021 revenues: 10,5 M€
  • Deadline for submitting bids: 07/02/2023

Digital communication agency

Main features:

  • Business: Digital communication agency (e-commerce, digital, digital development studio, development agency) – Iso 9001 and 27001 certification – Major accounts.
  • Location: Boulogne-Billancourt (Hauts-de-Seine)
  • Headcount: 88 permanent contracts and 12 trainees
  • 2021 revenues: 8,8 M€ – 2022 revenues (estimated) : 7 M€
  • Deadline for submitting bids: 28/02/2023

Sonisol

Main features:

  • Business: Masonry work, facades and external insulation.
  • Location: Orvault (Loire-Atlantique)
  • Company registration number: 504 614 884
  • Headcount 44 employees.
  • 2021 revenues: 6,2 M€
  • Deadline for submitting bids: 28/02/2023

Normandie Mer

Main features:

  • Business: Fishmonger, wholesale and retail of fresh and frozen fish, shellfish and molluscs and transport.
  • Location: Le Tréport (Seine-Maritime)
  • Company registration number: 798 215 141
  • Headcount: 7 permanent and 23 fixed-term contracts
  • 2021 revenues: 4 M€
  • Deadline for submitting bids: 15/02/2023

Repair of domestic equipment

Main features:

  • Business: Company specialising in the sale of spare parts and accessories to professionals for the repair of household appliances.
  • Location: Ivry-sur-Seine (Val-de-Marne)
  • Company registration number: 954 504 015
  • Headcount 10 employees
  • 2021 revenues: 3,7 M€
  • Deadline for submitting bids: 23/02/2023

VIP Sécurité

Main features:

  • Business: Surveillance, security guarding.
  • Location: Boulogne-Billancourt (Hauts-de-Seine)
  • Company registration number: 398 476 812
  • Headcount 70 employees
  • 2021 revenues: 2,9 M€
  • Deadline for submitting bids: 01/03/2023

Chaudronnerie Andrian

Main features:

  • Business: Industrial boilermaking.
  • Location: Saint-Baldoph (Savoie)
  • Company registration number: 399 779 974
  • Headcount 20 employees
  • 2021 revenues: 2,4 M€
  • Deadline for submitting bids: 02/03/2023

Sedel SAS

Main features:

  • Business: Construction of structural work (masonry) and finishing work (interior renovation), as well as swimming pools and ponds, particularly for high-end clients.
  • Location: Champigny-sur-Marne (Val-de-Marne)
  • Headcount 12 employees
  • 2021 revenues: 2,3 M€
  • Deadline for submitting bids: 08/02/2023

Association ASSAD 78

Main features:

  • Business: Home help for elderly and disabled people under CPOM agreement and common subsidies.
  • Location: Saint-Rémy-Lès-Chevreuse (Yvelines)
  • Company registration number: 381 964 394
  • Headcount 60 employees
  • 2021 revenues: 1,1 M€
  • Deadline for submitting bids: 06/03/2023

Locksmithing

Main features:

  • Business: Mirror work, locksmithing, all building work.
  • Location: Colombes (Hauts-de-Seine)
  • Headcount 5 employees
  • 2022 revenues: 1 M€
  • Deadline for submitting bids: 28/02/2023