Distressed acquisition opportunities – July 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).

		Getir – Gorillas – Frichti Main features: Activité : Getir France : Livraison de commandes de courses du quotidien (alimentaires et non alimentaires), effectuées via l’application mobile Getir. Gorillas Technologies France : Livraison de commandes de courses du quotidien (alimentaire et non alimentaires), effectuées via l’application mobile Gorillas. Frichti : Production et livraison de plats préparés (offres B2B et B2C); livraison de produits d’épicerie, d’hygiène et de produits frais commandés via l’application Frichti Implantation géographique : Getir France: 70 magasins, 2 entrepôts – Gorillas Technologies France: 30 magasins – Frichti : 24 magasins, 1 entrepôt et 1 cuisine pour la préparation des plats préparés RCS : Getir France : 898 472 931 – Gorillas Technologies France : 894 818 483 – Frichti : 811 534 809 CA 2022 : Getir France : 23,8 M€ – Gorillas Technologies France : 26,6 M€ – Frichti : 69,9 M€ Effectif : Getir France: 841 salariés – Gorillas Technologies France: 500 salariés – Frichti : 367 salariés DLDO : 17/07/2023
		Manufacture and marketing of silicone prostheses Main features: Business: Manufacture and marketing of silicone prostheses and implants for cosmetic and reconstructive surgery Location : Ile-de-France et 5 filiales de commercialisation in bonis situées à l’étranger 2021 revenues: 20 M€ – 2020 revenues: 15,8 M€ Headcount 135 employees Deadline for submitting bids: 21/07/2023
		Medical furniture and instruments Main features: Business: Company specialising in the manufacture and sale of medical furniture and instruments Location: Mayenne 2021 revenues: 17,7 M€ Headcount 116 employees Deadline for submitting bids: 31/07/2023
		Association ADPA Main features: Business: Medical and social homecare services in the Grenoble area Location : Saint Martin d’Hères (Isère) and 11 secondary establishments 2022 revenues: 15,2 M€ Headcount: 489 employees, 478 on permanent contracts and 11 on fixed-term contracts, 224 full-time and 420 part-time Deadline for submitting bids: 22/09/2023
		France Equipement Main features: Business: French manufacturer and distributor of mechanical parts for 2/3-wheelers Location : Varennes-Vauzelles (Nièvre) Company registration number: 337 688 212 2022 revenues: 14,5 M€ – 2021 revenues: 14,3M€ – 2020 revenues: 12,3 M€ Headcount 57 employees Deadline for submitting bids: 27/07/2023
		Handling freight Main features: Business: Handling freight, carrying out all airport assistance operations both in the terminal and on the ramp Location : Roissy, Lille, Nice, Bordeaux and Marseille 2022 revenues: 11,3 M€ Headcount 97 employees Deadline for submitting bids: 28/07/2023
		Artec Main features: Business: Group of 3 companies specialising in project management and property development Location : Aube RCS : Artec Développement : 534 095 534 – Artec Groupe: 1 M€ – SAT Manager : 7,3 M€ 2022 revenues: Artec Développement : 2,4 M€ – Artec Groupe: 1 M€ – SAT Manager : 7,3 M€ Headcount: Artec Développement : 3 salariés – Artec Groupe: 6 salariés – SAT Manager : 10 salariés Deadline for submitting bids: 17/07/2023
		Do-it-yourself and household equipment retailer Main features: Business: Do-it-yourself and household equipment retailer (chain) Location : Seine-et-Marne 2022 revenues: 5,8 M € – 2021 revenues: 7,4 M € Headcount 23 employees Deadline for submitting bids: 07/07/2023
		Creation and implementation of bespoke applications Main features: Business: Creation and implementation of bespoke applications using technologies (FAVEOD) tailored to the needs of companies, particularly large groups/information systems/digital strategy consultancy assignments Location: Paris (Ile-de-France) 2022 revenues (18 months) : 5 M€ Headcount : Team of 12 developers, 3 project managers and 1 project director (+ 4 trainees) Deadline for submitting bids: 21/07/2023
		SARL Dama Main features: Business: Purchase of Italian delicatessen products (cheeses, cold meats, wines, etc.) and resale in France under the MIDA brand Location : Paris (Ile-de-France) 2022 revenues: 2,2 M€ Headcount 8 employees Deadline for submitting bids: 25/07/2023
		Industrial cleaning company Main features: Business: Industrial cleaning company Location: Oise 2022 revenues: 1,7 M€ – 2021 revenues: 1,6 M€ Headcount 68 employees Deadline for submitting bids: 28/07/2023
		Electric cargo bikes Main features: Business: 90% manufacture and sale of KIFFY electric cargo bikes and 10% sale of tricycles Location : Loire 2022 revenues: 1,5 M€ – 2021 revenues: 1,1 M€ Headcount 5 employees Deadline for submitting bids: 18/09/2023
		Home help Main features: Business: Personal services/teleassistance for the elderly Location : Ile-de-France 2022 revenues: 1 M€ – 2021 revenues: 1,2 M€ – 2020 revenues: 1,4 M€ Headcount 16 employees Deadline for submitting bids: 21/07/2023
		Hotel-Bar-Restaurant Main features: Business: Hotel-Bar-Restaurant in a house dating from 1838 with a capacity of 200 covers (including 80 on the terrace) – Annual number of customers around 31,000 Location : Courseulles-sur-Mer (Calvados) 2022 revenues: 1 M€ – 2021 revenues: 793 K€ – 2020 revenues: 763 K€ – 2019 revenues: 1,4 M€ Headcount: 6 employees on permanent contracts (annual workforce fluctuates between 7 and 24 employees depending on the season) Deadline for submitting bids: 21/07/2023