Distressed acquisition opportunities – October 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).

		Vencorex France (a subsidiary of the Vencorex group) / Vencorex TDI Main features: Business: Upstream phase: Production of salt, chlorine, caustic soda and hydrogen – Downstream phase: Production of aliphatic isocyanates and derivatives for industrial paints and coatings Location: Saint-Priest and Saint-Fons (Rhône Alpes), Pont de Chaix (Isère) and Hauterives (Drôme) Company registration number: Vencorex France : 444 187 884 – Vencorex TDI : 504 868 183 2023 revenues: 209 M€ Headcount 464 employees Deadline for submitting bids: 21/10/2024
		Apats Marseille Main features: Business: Association – Access to health services: 1 clinic, 2 dental centres and 1 medical equipment shop Location: Marseille (Bouches du Rhône) Company registration number: 791 730 021 2023 revenues: 29 M€ Headcount 301 employees Deadline for submitting bids: 31/10/2024
		Intermarché supermarket Main features: Business: Intermarché supermarket Location: Le Havre (Seine Maritime) 2023 revenues: 20 M€ Headcount 69 employees Deadline for submitting bids: 22/11/2024
		Industrial cleaning Main features: Business: Industrial cleaning, mainly in the health, transport, tertiary and agri-food sectors Location: Marseille (Bouches du Rhône) 2023 revenues: 13,5 M€ Headcount 550 employees Deadline for submitting bids: 15/11/2024
		DG Holidays Main features: Business: Holiday villages / Campsites / Tourist residences Location: Multiple sites Company registration number: 523 822 112 2023 revenues: 10,8 M€ – 2022 revenues: 12,7 M€ – 2021 revenues: 9,7 M€ Headcount 90 employees Deadline for submitting bids: 14/11/2024
		Real estate agency Main features: Business: Real estate agency Location: Montreuil (Seine Saint Denis) 2023 revenues: 7,9 M€ – 2022 revenues: 7,8 M€ Headcount 49 employees Deadline for submitting bids: 15/11/2024
		MicronMax (Dieuze site) Main features: Business: All activities related to the metallurgical industry (purchase and sale, import-export of industrial equipment) Location: Charbonnières-les-Bains (Rhône Alpes) et antenne à Dieuze (Meurthe et Moselle) 2024 revenues (14 months) : 4,5 M€ Headcount 57 employees Deadline for submitting bids: 07/11/2024
		France Inox Industrie Main features: Business: Business of designing, manufacturing, processing, purchasing, selling, marketing and distributing street furniture and professional kitchens. Location: Saubusse (Landes) Company registration number: 824 789 713 2023 revenues: 3 M€ Headcount 19 employees Deadline for submitting bids: 15/12/2024
		Groupe Secma Cabon Main features: Business: Manufacture of machinery for the agri-food industry Location: Quimper (Finistère) Company registration number: 321 017 170 2023 revenues: 2,8 M€ Headcount 12 employees Deadline for submitting bids: 31/10/2024
		Lailand Main features: Business: Manufacture, production, distribution and sale of cheeses (in particular oriental cheeses) Location: Aubigny-aux-Kaisnes (Aisne) Company registration number: 439 220 286 2023 revenues: 2,7 M€ Headcount 12 employees Deadline for submitting bids:: 12/11/2024
		CMB Industrie Main features: Business: Study, design and manufacture of removable containers and customised metal structures (excluding containers) Location: Saint-Étienne-de-Saint-Geoirs (Isère) Company registration number: 490 313 053 2023 revenues: 2,1 M€ – 2022 revenues: 2,4 M€ – 2021 revenues: 2,3 M€ Headcount 14 employees Deadline for submitting bids:: 25/10/2024
		Operation of an residential facility for dependent elderly people Main features: Business: Operation of an residential facility for dependent elderly people “EPHAD” (80 beds, no residents following ARS decision) Location: PACA Region 2023 revenues: 1,5 M€ Headcount 42 employees Deadline for submitting bids:: 04/11/2024
		Social services without accommodation Main features: Business: Social services without accommodation Location: Pyrénées-Atlantiques 2023 revenues: 2 M€ Headcount 76 employees Deadline for submitting bids:: 25/10/2024
		Marketing of an interactive reading console for children Main features: Business: Marketing of an interactive reading console for children Location: Paris 2023 revenues: 246,3 K€ Headcount 9 employees DLDO : 12/11/2024