24.07.2024

Distressed acquisition opportunities – July 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, Laura 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).

		Appliances Main features: Business: Holding company: Provides support functions for other group companies Subsidiary 1: B2B sales of household appliances to retailers and marketing in France Subsidiary 2: B2C online sales of household appliances in France Subsidiary 3: Group management Subsidiary 4: After-sales service for group brands Subsidiary 1: 2023 revenues: 114 M€ – Subsidiary 2: 2023 revenues: 11 M€ – Holding company: 2023 revenues: 2 M€ – Subsidiary 3: 2023: 1 M€ – Subsidiary 4: 2023 revenues: 1M€ Headcount Holding company: 17 employees – Subsidiary 1: 26 employees – Subsidiary 2: 8 employees – Subsidiary 3: 0 employees – Subsidiary 4: 14 employees Deadline for submitting bids: 28/08/2024
		Stenpa Main features: Business: Manufacture recyclable papers from certified fibers and promote eco-responsible products: flexible, wet-strength, straw and barrier wrapping paper Location: Stenay (Meuse) Company registration number: 804 891 281 2023 revenues: 47,7 M€ Headcount: 124 employees Deadline for submitting bids: 02/09/2024
		Exterior fittings Main features: Business: Manufacture of fences and gates, and installation of fences and landscaping 2023 revenues: 37 M€ – 2021 revenues: 35 M€ – 2020 revenues: 29 M€ Headcount 90 employees Deadline for submitting bids: 06/09/2024
		Bergère de France Main features: Business: Textile fiber preparation and spinning Location: Bar Le Duc (Meuse) Company registration number: 312 141 344 2022 revenues: 15,2 M€ Headcount 165 employees Deadline for submitting bids: 13/09/2024
		Jour – Healthy groupe Main features: Business: Fast-food salad bar Company registration number: 448 915 033 2023 revenues: 10,2 M€ – 2022 revenues : 8,6 M€ Headcount 143 employees Deadline for submitting bids: 27/09/2024
		Temahome Main features: Business: Design, production and marketing of furniture (BtoB and BtoC) 2023 revenues: 10 M€ – 2022 revenues: 14,5 M€ – 2021 revenues: 20,1 M€ – 2020 revenues: 17,5 M€ Headcount 7 employees in France and 130 in Portugal Deadline for submitting bids: 29/87/2024
		IDF performance Main features: Business: Operation of three dealerships selling and repairing motorcycles and accessories, Distribution of brands: Triumph, Husqvarna, Fantic, Hyosung, Mash, Royal Enfield, Gasgas, KTM and Indian motorcycle Location: Head office: Seine et Marne Company registration number: 919 388 777 2023 revenues: 9,2 M€ Headcount 22 employees Deadline for submitting bids: 12/08/2024
		Wood Transport Main features: Business: Operation of three dealerships selling and repairing motorcycles and accessories, Distribution of brands: Triumph, Husqvarna, Fantic, Hyosung, Mash, Royal Enfield, Gasgas, KTM and Indian motorcycle Location: Somme et Essonne Company registration number: 503 326 506 2023 revenues: 7,1 M€ Headcount 20 employees Deadline for submitting bids: 12/08/2024
		Nord Performance Main features: Business: Operation of three dealerships selling and repairing motorcycles and accessories, Distribution of brands: Triumph, Husqvarna, Fantic, Hyosung, Mash, Royal Enfield, Gasgas, KTM and Indian motorcycle Location: Somme et Essonne Company registration number: 503 326 506 2023 revenues: 7,1 M€ Headcount 20 employees Deadline for submitting bids: 12/08/2024
		Le gramme Main features: Business: Design and marketing of men’s luxury jewelry in France and abroad, online distribution Location: Paris Company registration number: 789 713 823 2021 revenues: 6,2 M€ – 2020 revenues: 4,2 M€ Headcount 27 employees Deadline for submitting bids: 20/09/2024
		Paris Performance Main features: Business: Operation of three dealerships selling and repairing motorcycles and accessories. Distribution of Triumph, Husqvarna, KTM, Gasgas, Hyosung, Mash, Royal Enfield and Indian motorcycle brands Location: Bonneuil-sur-marne (Val-de-Marne) et Paris Company registration number: 919 393 595 2023 revenues: 5,7 M€ Headcount 6 employees Deadline for submitting bids: 12/08/2024
		Materials transport Main features: Business: Company 1: roadworks, earthworks, asbestos removal and demolition Company 2: transport of public works equipment and materials and rental of trucks with drivers Location: Bourgogne Franche-Comté Company 1: 2022 revenues: 4,6 M€ – 2021 revenues: 4,4 M€ Company 2: 2022 revenues : 762 K€ – 2021 revenues: 1,1 M€ Headcount Company 1: 37 employees – Company 2: 6 employees Deadline for submitting bids: 12/08/2024
		Enertime Main features: Business: Manufacture of turbomachinery and associated thermodynamic machines (ORC, HT heat pump, natural gas expansion turbine) Location: Courbevoie (Val-de-Marne) Company registration number: 502 718 760 2023 revenues: 3,7 M€ Headcount 73 employees Deadline for submitting bids: 16/09/2024
		C.E.C.R Main features: Business: Accounting expertise Location: Morteau (Doubs) Company registration number: 393 614 003 2023 revenues: 3,2 M€ Headcount 20 employees Deadline for submitting bids: 06/09/2024
		Design agency Main features: Business: Leading French design agency Location: Paris 2023 revenues: 2,1 M€ Headcount 16 employees Deadline for submitting bids: 10/09/2024