Distressed acquisition opportunities – January 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).

		Chauss’expo Main features: Business: Footwear retail & logistics Company registration number: 341 816 064 Headcount 732 employees 2022 revenues: 80,7 M€ Deadline for submitting bids: 09/02/2024
		Distribution and marketing of electronic products and urban mobility products Main features: Business: Distribution and marketing of consumer electronics products (PCs, computer peripherals, storage) and urban mobility products such as bicycles and electric scooters to mass retailers, via “marketplaces” or after e-commerce sites. Location: Rhône 2023 revenues: 42 M€ – 2022 revenues: 57 M€ – 2021 revenues (9 months) : 50 M€ Headcount 33 employees Deadline for submitting bids: 13/02/2024
		Sale of automotive parts Main features: Business: Sofidest : Holding company Webdelauto: Sale of car parts via internet, shops, corners, distributors Nord Distribution: wholesaler of European spare parts for the group Nippon Pi5 production sites in France and 3 abroadèces Service : Importer and distributor of Asian and European car parts CIA : Internet sales of Asian and European car parts Headcount: Sofidest : 25 employees – Webdelauto : 30 employees – Nord Distribution : 17 employees – Nippon Pièces Service : 21 employees – CIA : 0 employee 2022 revenues: Sofidest : 2 M€- Webdelauto : 14,1 M€ – Nord Distribution : 10,8 M€ – Nippon Pièces Service : 15,1 M€ – CIA : 0,9 M€ Deadline for submitting bids: 30/01/2024
		Usinage de Compiègne Main features: Business: Manufacture of cast and machined aluminium, iron and steel automotive components Location: Venette (Oise) Company registration number: 478 500 275 2022 revenues: 21 M€ Headcount 42 employees Deadline for submitting bids: 06/02/2024
		Kindy Main features: Business: Socks sales Location: Oise Company registration number: 830 135 570 2022 revenues: 20 M€ Headcount 27 employees Deadline for submitting bids: 16/02/2024
		Abso Agencement Main features: Business: A company specialising in the creation, design and manufacture of top-of-the-range made-to-measure and standard fittings and furnishings for sales areas of all types Location: Cadaujac (Gironde) and Mortagne-sur-Sèvre (Vendée) Company registration number: 883 658 742 Headcount: Cadaujac : 16 employees – Mortagne-sur-Sèvre : 75 employees 2022 revenues: 13,2 M€ Deadline for submitting bids: 05/02/2024
		Installation of photovoltaic power plants Main features : Business: EPC (engineering, procurement, construction) company for photovoltaic power plant installation projects Headcount 8 employees 2023 revenues: 11,9 M€ Deadline for submitting bids: 26/02/2024
		I/O Média – Lyric Média – Ideat Editions Main features: Business: Press group publishing the magazines Têtu, Ideat, The Good Life, Dim Dam Dom and Opéra Magazine and developing web platforms (BtoB) Company registration number: I/O Média : 837 728 252 – Lyric Media : 899 539 910 – Ideat Editions : 423 011 923 Headcount : I0 édia : 25 employees – Lyric Media : 4 employees – Ideat Editions : 16 employees Revenues: I/O Média : Revenues at 31/12/22 (8 months) : 1,7 M € – Revenues at 30/04/2022 : 1,6 M € – Lyric Media : Revenues at 30/04/2023 : 102 K€ – Revenues at 30/04/2022 : 360 K€ – Ideat Editions : Revenues at 31/12/22 : 6,9 M€ – Revenues at 31/12/2021 : 7,1 M€ Deadline for submitting bids: 31/01/2024
		Cutting and processing of metals and alloys Main features: Business: Cutting and processing of metals and alloys. Two independent sites that can be the subject of separate bids Location: Aube Headcount : Laser cutting and sheet metal work: 27 employees – Oxycutting and machining activity: 4 employees 2022 revenues: Laser cutting and sheet metal work: 4,9 M€ – Oxycutting and machining activity: 2,4 M€ Deadline for submitting bids: 02/02/2024
		Vigilance Protection (2 facilities) Main features: Business: Property and personal security, surveillance and guarding Location: Provence Alpes Côte d’Azur Headcount 259 employees 2022 revenues: 3,4 M € – 2021 revenues: 2,4 M€ – 2020 revenues: 2,2 M€ Deadline for submitting bids: 31/03/2024
		Boilermaking – Metalwork Stainless steel Copper Brass Main features: Business: Boilermaking – Stainless steel, copper, brass – Manufacture of professional kitchens and bars Location: Montreuil (Seine-Saint-Denis) 2022 revenues: 1,9 M€ Headcount 17 employees Deadline for submitting bids: 27/02/2024
		Endema Group Main features: Business: IT platform for home delivery throughout France Location: Oyonnax (Aisne) Company registration number: 879 708 667 2023 revenues: 1,6 M€ – 2022 revenues: 2 M€ Headcount 16 employees Deadline for submitting bids: 29/02/2024
		Menuiserie Bret Main features: Business: Interior joinery, timber-frame construction and fittings Location: Ceyzeriat (Ain) Company registration number: 301 313 078 2022 revenues: 1,4 M€ – 2021 revenues: 1 M€ – 2020 revenues: 1,7 M€ Headcount 11 employees Deadline for submitting bids: 20/02/2024
		Business consultancy Main features: Business: Business and other management consultancy with data project analysis Location: Paris (Ile-de-France) 2022 revenues: 1,34 M€ – 2021 revenues: 649 K€ Headcount 13 employees Deadline for submitting bids: 02/02/2024
		Pharmacy Main features: Business: Pharmacy Location: Le Mans (Sarthe) 2023 revenues: 1,3 M€ Headcount 5 employees Deadline for submitting bids: 02/02/2024
		Shoe sales – Mephisto Main features: Business: Footwear retailing in 5 outlets, mainly under the Mephisto brand. Location: Paris 7° (Ile de France), Chatillon-sous-Bagneux, Boulogne and Sceaux (Hauts-de-Seine), Poissy (Yvelines) 2022 revenues: 1,15 M€ – 2021 revenues: 1,4 M€ – 2020 revenues: 1,5 M€ Headcount 8 employees Deadline for submitting bids: 15/02/2024