Distressed acquisition opportunities – October 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).

		Avenel – NMA Gestion – ABEN – NMA SO Main features: Business: Avenel: Building, infrastructure and industry. NMA Gestion: sub-holding company (HR, accounting, purchasing). ABEN: winding, electromechanical and electrical engineering (with mechanical workshop) NMA SO: railway work Location: Avenel and NMA Gestion : Darnetal (Seine-Maritime) – ABEN : Cormelles-le-Royal (Calvados) – NMA SO : Montauban (Tarn) Company registration number: Avenel : 439 572 926 – NMA Gestion : 424 341 220 – ABEN : 387 799 265 – NMA SO : 504 891 904 2022 revenues: Avenel : 46 M€ – NMA Gestion : 11,3 M€ – ABEN : 2,9 M€ – NMA SO : 3,3 M€ Headcount: Avenel : 277 employees – NMA Gestion : 34 employees – ABEN : 15 employees – NMA SO : 21 employees Deadline for submitting bids: 06/11/2023
		Energy distribution and metering Main features: Business: Energy distribution and metering, and more specifically the reading, opening, closing and installation of multi-fluid meters (water, gas and electricity), installation of remote surveillance equipment, connected objects, connection of photovoltaic panels, IRVE terminals (electric vehicle recharging system). Location: 12 sites in France 2022 revenues: 17,8 M€ – 2021 revenues: 36,5 M€ – 2020 revenues: 39,1 M€ Headcount 277 employees Deadline for submitting bids: 15/11/2023
		Facilavie Association Main features: Business: Management of a home help service for the elderly, people with disabilities and vulnerable families. Location: Bourges (Cher) Company registration number: 775 022 361 2022 revenues: 10,3 M€ – 2021 revenues: 9,3 M€ – 2020 revenues: 9,6 M€ Headcount 317 employees Deadline for submitting bids: 15/12/2023
		Boutique selling discounted clothing Main features: Business: Firm 1 : Shop selling discounted clothing under the “Sympa” banner – Firm 2 : Logistics warehouse Location : Firm 1 : Levallois (Hauts-de-Seine) – Firm 2 : Saint-Denis (Seine-Saint-Denis) 2022 revenues: Firm 1: 8 M€ – Firm 2: 507 K€ Headcount: Firm 1 : 6 employees – Firm 2 : 12 employees Deadline for submitting bids: 03/11/2023
		Equipagri 17 Main features: Business: Sale and repair of agricultural equipment. Location: Charente-Maritime Company registration number: 815 392 980 2022 revenues: 7,7 M€ Headcount 15 employees Deadline for submitting bids: 21/11/2023
		Interior fittings and plasterwork Main features: Business: Interior fittings and plasterwork, specialising in demountable and removable partitions, suspended ceilings, interior joinery, raised access floors, thermal insulation and acoustic treatment. Location: Hauts-de-France 2022 revenues: Firm 1 : 7,2 M€ – Firm 2 : 520 K€ Deadline for submitting bids: 30/11/2023
		Notary’s office Main features: Business: Notary’s office specialising in professional and institutional property. Location: Levallois-Perret (Hauts-de-Seine) 2022 revenues: 4,4 M€ Headcount 20 employees Deadline for submitting bids: 24/11/2023
		Short-term light vehicle rental platform Main features: Business: Innovative technology platform for short-duration light vehicle rental, putting professional rental companies in touch with private individuals and renting out company-owned vehicles. Location: Ile-de-France 2022 revenues: 6,5 M€ – 2021 revenues: 3,9 M€ Headcount 21 employees Deadline for submitting bids: 30/10/2023
		Computer programming Main features: Business: ESN for organisational and functional consultancy – Technical assistance and IT programming. Location: Courbevoie (Hauts-de-Seine) 2022 revenues: 4,6 M€ – 2021 revenues: 4,5 M€ – 2020 revenues: 4,1 M€ Headcount 35 employees Deadline for submitting bids: 10/11/2023
		Showers installation Main features: Business: Company installing individual showers for private customers. Location: Aix-en-Provence (Bouches-du-Rhône) 2022 revenues: 4,5 M€ Headcount 14 employees Deadline for submitting bids: 16/11/2023
		Road transport Main features: Business: Short/long-distance LV/LV road haulage company. Location: Poitou-Charentes 2022 revenues: 4,1 M€ – 2021 revenues: 3,7 M€ – 2020 revenues: 3,5 M€ Headcount 55 employees Deadline for submitting bids: 08/12/2023
		Industrial joinery for furniture fittings Main features: Business: Industrial joinery for furniture fittings. Location: La Charité-sur-Loire (Nièvre) 2022 revenues: 4 M€ – 2021 revenues: 3,6 M€ – 2020 revenues: 4,9 M€ Headcount 43 employees Deadline for submitting bids: 15/11/2023
		Schools & training centres Maria Montessori Main features: Business: Institut supérieur Maria Montessori: association accredited by the Association Montessori International, with 3 Montessori teacher training centres and a school Enfants du Monde: school in Montreuil Montessori Diffusion: home to various Montessori-related projects. Location: Nogent-sur-Marne, Montpellier, Lyon, Paris and Montreuil Company registration number: ISSM : 418 550 273 – EDM : 839 116 316 – MD : 888 405 800 2022 revenues: ISSM : 3,3 M € – EDM : 545 K€ – MD : 11 K€ Headcount 47 employees Deadline for submitting bids: 20/11/2023
		Jaffar Laboratoire Main features: Business: Manufacture, bottling, labelling and marketing of E-liquids for electronic cigarettes. Location: Pau (Pyrénées-Atlantiques) Company registration number: 538 802 307 2022 revenues: 2,3 M€ Headcount 10 employees Deadline for submitting bids: 24/11/2023