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).

		Cleaning company Main features: Business: Group of 21 companies, a national player in the cleaning sector, 10 subsidiaries in France, one dedicated to healthcare establishments Location: Bourgogne, Bretagne, Grand Est, Grand Ouest, Méditerranée, Normandie, Occitanie, Rhône Alpes, Sud Est, Sud Ouest 2023 revenues: 52,3 M€ Headcount 3039 employees Deadline for submitting bids: 21/07/2024
		Aim Antrain Main features: Business: Diligente operates a meat cutting and processing business. It has extensive refrigeration and logistics facilities Location: Val-Couesnon ( Ille-et-Vilaine) Company registration number: 810 914 754 2024 forecast revenues: 36 M€ Headcount: 60 employees
		Ready-to-wear Main features: Business: Men’s ready-to-wear under the Bayard brand – 1st network stores and outlet stores: 4 distribution models: 8 1st network stores + 18 outlet stores, corners and e-commerce site: of the 26 stores, 13 are multi-brand 2022 revenues: 14,6 M€ – 2021 revenues: 11,1 M€ – 2020 revenues: 12,7 M€ Headcount 123 employees including 105 permanent staff Deadline for submitting bids: 20/08/2024
		Jewelry Main features: Business: Buying and selling used watches and jewelry Location: Omnichannel network based on 5 boutiques (located in Lyon (Rhône), Paris, Bordeaux (Gironde), Lille (Nord) and Aix-en-Provence (Bouches-du-Rhône)) 2022 revenues: 12,2 M€ Headcount 31 employees (17 in Lyon, 6 in Paris, 4 in Bordeaux, 3 in Lille and 1 in Aix-en-Provence) Deadline for submitting bids: 08/07/2024
		Vitamotor Main features: Business: Trade and maintenance of engines, hydraulic equipment, pneumatics, handling equipment, cleaning equipment, as well as general mechanical and industrial maintenance. Location: 3 branches: Saint-Pierre-des-Corps (Indre-et-Loire), Le Mans (Sarthe), Châteauroux (Indre) Company registration number: 494 676 380 2023 revenues: 4 M€ – 2022 revenues: 4,3 M€ Headcount 17 employees Deadline for submitting bids: 08/07/2024
		Meat slaughtering Main features: Business: The company operates the Lyon abattoirs on the CORBAS site. It specializes in beef and sheep slaughtering. It has 2 beef preservation cells, one sheep preservation cell, 3 cold rooms for dispatch, and 2 other cold rooms for offal and foraine. Location: Lyon (Rhône) 2023 revenues: 3,7 M€ – 2022 revenues: 3,6 M€ – 2021 revenues: 3,3 M€ Headcount 18 employees Deadline for submitting bids: 08/07/2024
		Lancey engry storage Main features: Business: Design & marketing of an exclusive connected heating solution featuring electricity storage batteries (12 patent families) which, combined with photovoltaic solar energy, significantly reduces energy bills while promoting self-consumption. Location: Isère Company registration number: 821 204 955 2023 revenues: 3 M€ – 2022 revenues : 788 K€ – 2021 revenues: 455 K€ Headcount 27 employees Deadline for submitting bids: 03/07/2024
		Travel agency Main features: Business: Company 1: Individual (50%) and group (50%) travel agency – Company 2: Individual (50%) and group (50%) travel agency Location: Company 1: Main office in Loiret and second office in Auvergne-Rhône-Alpes – Company 2: Loiret 2023 revenues Company 1: 2.6 M€ – 2023 revenues Company 2: 1.5 M€ Headcount Company 1: 8 employees – Company 2: 2 employees Deadline for submitting bids: 10/07/2024
		SAAS solution Main features: Business: A player offering a SAAS (Software As A Service) solution for measuring, analyzing and amplifying the digital impact of TV advertising Location: Paris 2023 revenues: 2 M€ Headcount 21 employees Deadline for submitting bids: 31/07/2024
		Plumbing Main features: Business: Plumbing, sanitary, heating, chimney sweeping, roofing, zinc work Location: Fains (Eure) 2023 revenues (12 months): 948 K€ – 2022 (6 months): 450 K€ – 2021 revenues (12 months): 1,2 M€ Headcount 11 employees Deadline for submitting bids: 22/07/2024
		Design and production of plastic injection tools Main features: Business: Design and production of plastic injection tools Location: Saône et Loire 2022 revenues (18 months): 622 K€ – 2020 revenues: 634 K€ – 2019 revenues: 797 K€ Headcount: 16 employees including 2 fixed-term contracts, 11 permanent contracts and 3 apprentices Deadline for submitting bids: 11/07/2024