Distressed acquisition opportunities – December 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).

		MG-Valdunes Main features: Business: Design and manufacture of wheels, axles and wheelsets for railway rolling stock. Leffrinckoucke: Forging, heat treatment and machining. Trith Saint Léger: Heat treatment and machining. Location: Leffrinckoucke et Trith Saint Léger (Nord) Company registration number: 802 319 103 Headcount: 86 employees on the Dunkirk site – 231 employees on the Valenciennes site 2022 revenues: 68,4 M€ – 2021 revenues: 61,8 M€ – 2020 revenues: 75,3 M€ Deadline for submitting bids: 10/01/2024
		Holiday resorts Main features: Business: Management and operation of holiday villages by the sea and in the mountains. Ticketing and sales of individual and group holidays. Organisation of all-inclusive holidays abroad. Headcount 142 employees 2022 revenues: 42,4 M€ – 2021 revenues: 32,6 M€ – 2020 revenues: 28,7 M€ – 2019 revenues: 54,6 M€ Deadline for submitting bids: 08/01/2024
		Soliha Est Parisien Main features: Business: An association specialising in improving housing and the living environment, with a remit to: 1. help low-income households in the Seine-Saint-Denis and Val-de-Marne départements with their housing problems. 2. support local authorities in implementing their policies on private housing. Location: Fontenay-sous-Bois (Val-de-Marne) Company registration number: 785 566 720 Headcount 37 employees 2022 revenues: 6,9 M€ – 2021 revenues: 7,3 M€ – 2020 revenues: 6,8 M€ Deadline for submitting bids: 04/01/2024
		Real estate agencies Main features: Business: Company 1: Holding company – Companies 2, 3 and 4: Real estate agencies specialising in „investors“ by targeting customers with high investment capacity. Location: Paris 2022 revenues: Company 1: 379 K€ – Company 2: 3,2 M€ – Company 3: 1,1 M€ – Company 4: 925 K € Headcount: Company 1: 4 employees- Company 2: 6 employees – Company 3: 4 employees – Company 4: 3 employees Deadline for submitting bids: 04/12/2023
		IT training and consultancy Main features: Business: IT training and consultancy. Location: Neuilly-sur-Seine (Hauts-de-Seine) 2023 revenues: 4,8 M€ – 2022 revenues: 5,2 M€ – 2021 revenues: 6 M€ Headcount 37 employees Deadline for submitting bids: 17/01/2024
		Société Nouvelle CMTI Main features: Business: Boilermaking, pipework, mechanical welding, mechanics and metalwork. Business sectors: naval / civil and military nuclear, food processing, automotive, transport, rail, chemicals. Location: Valognes (Manche) Company registration number: 821 949 872 2022 revenues: 3,6 M€ – 2021 revenues: 3,4 M€ Headcount 22 employees Deadline for submitting bids: 08/12/2023
		Good road transport Main features: Business: Road haulage of goods (refrigerated transport, earth, limestone, cereal tippers, beetroot, pulp, residues, all products related to sugar production). Location: Pas-de-Calais Headcount 18 employees 2023 revenues: 3 M€ Deadline for submitting bids: 22/01/2024
		Maison pour tous Main features: Business: Maison pour tous : After-school and extra-curricular leisure activities, regular activities and water sports centre – Galerie 29: Cultural space – Résidence Accueil Jeunes: Social accommodation – Visitors‘ centre with bar-restaurant: Group accommodation for school groups, private groups and individuals, meeting rooms. Location: Evian-les-Bains (Haute-Savoie) Company registration number: 314 900 655 2022 revenues: 1,8 M€ – 2021 revenues: 1,3 M€ – 2020 revenues: 1 M€ Headcount 57 employees DLDO : 15/02/2024
		Operational holding company for a press group Main features : Business: Operational holding company of a press group publishing through 3 subsidiaries the magazines Têtu, Ideat, The Good Life, Dim Dam Dom, Opéra Magazine. 2022 revenues: 1,6 M€ – 2021 revenues: 1 M€ Headcount 45 employees Deadline for submitting bids: 20/12/2023
		Dermo-cosmetic products Main features: Business: The laboratory develops dermo-cosmetic products based on patented technology, with no side effects, designed for pigmented skin. Location: Provence-Alpes-Côte d’Azur 2023 revenues: between 1,5 and 2 M€ Headcount 7 employees Deadline for submitting bids: 13/12/2023
		Artificial intelligence solutions Main features: Business: Start-up that has developed artificial intelligence solutions for financial institutions, particularly in the private banking, insurance and asset management sectors. Location: Paris 2022 revenues: 164 K€ – 2021 revenues: 844 K€ Headcount 6 employees