News
09.11.2023Arnaud Pédron, Numa Rengot

Distressed acquisition opportunities – November 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).

Keria

Main features:

  • Business: SAS Keria : Sale of lighting products – SAS Lighting : Online sale of lighting products and operation of the “luminairesonline” website – SAS Hoco : Management of franchise contracts – SAS Keria Groupe : Holding company
  • Location: Echriolles (Isère)
  • Company registration number: SAS Keria : 324 904 267 – SAS Lighting : 887 884 187 – SAS Hoco : 513 156 588 – SAS Keria Groupe : 817 854 698
  • 2023 revenues: SAS Keria : 47,8 M€ – SAS Lighting : 1 M€ – SAS Hoco : 917 K€ – SAS Keria Groupe : 14 M€
  • Headcount : SAS Keria : 329 employees- SAS Lighting : 2 employees- SAS Hoco : 0 employee – SAS Keria Groupe : 3 employees
  • Deadline for submitting bids: 27/11/2023

Burton of London

Main features:

  • Business:
    Burton of London: distribution of men’s and women’s ready-to-wear clothing.
    Sauvage Poésie: distribution of fashion, beauty and home decoration products from partner brands.
  • Location: 56 stores in France
  • 2023 revenues: 34,3 M€ – 2022 revenues: 49,8 M€ – 2021 revenues: 50,8 M€
  • Headcount 198 employees
  • Deadline for submitting bids: 13/11/2023

Vapiano

Main features:

  • Business: 10 Italian restaurants
  • Location: Saint-Laurent-du-Var, Marseille, Plan de Campagne, Aubervilliers, Paris, Lyon, Vendenheim, Blagnac, Lille and Plaisir
  • 2022 revenues: Saint-Laurent-du-Var : 1,5 M€ – Marseille : 1,9 M€ – Plan de Campagne  : 2,5 M€ – Blagnac : 1,4 M€ – Euralille  : 973 K€ – Vendenheim : 1,3 M€ – Lyon : 2,1 M€ – Paris : 4,5 M€ – Plaisir : 1,6 M€ – Aubervilliers : 1,8 M€
  • Headcount: Saint-Laurent-Du-Var : 24 employees –  Marseille : 23 employees – Plan de Campagne : 42 employees – Blagnac : 28 employees – Euralille : 15 employees – Vendenheim : 23 employees – Lyon : 33 employees – Paris : 49 employees – Plaisir : 27 employees – Aubervilliers : 31 employees
  • Deadline for submitting bids: 27/11/2023

Huwer

Main features:

  • Business: Designer and manufacturer of collective and non-collective wastewater treatment equipment.
  • Location: Ruitz (Pas-de-Calais), Lézigné and Durtal (Maine-et-Loire)
  • Company registration number: 775 632 102
  • 2022 revenues: 20,1 M€ – 2021 revenues: 26,2 M€ – 2020 revenues: 26,2 M€
  • Headcount: Ruitz : 69 employees – Lézigné : 51 employees – Durtal : 32 employees
  • Deadline for submitting bids: 08/01/2023

Transport of goods

Main features:

  • Business: Transport of goods by commercial vehicles weighing less than 3.5 tonnes (last km).
  • Location: Nouvelle Aquitaine
  • 2022 revenues: 9,3 M€ – 2021 revenues: 8,8 M€
  • Headcount 153 employees
  • Deadline for submitting bids: 17/11/2023

Manufacture agricultural machinery – Brand Chargeur+

Main features:

  • Business: Manufacture and distribution of agricultural and construction machinery under the Chargeur+ brand.
  • Location: Poitou-Charentes
  • 2022 revenues: 8,6 M€ – 2021 revenues: 9,3 M€ – 2020 revenues: 6,7 M€
  • Headcount 32 employees
  • Deadline for submitting bids: 15/12/2023

Tourist complexes

Main features:

  • Business: Operating of tourist complexes and rental residences comprising bare or furnished premises, hotels and restaurants, self-service retail outlets and sports and leisure facilities.
  • Location: Cagnano (Corse)
  • 2022 revenues: 3,2 M€ – 2021 revenues: 3 M€ – 2020 revenues: 1,6 M€
  • Headcount 5 employees
  • Deadline for submitting bids : 05/01/2024

Boilermaking and installation of specific equipment for hydroelectricity and methanisation

Main features:

  • Business: Consultancy, production of technical studies, manufacture of boilerwork and installation of specific equipment for hydroelectricity and methanisation.
  • Location: Pyrénées-Atlantiques
  • 2022 revenues: 1,7 M€
  • Headcount 23 employees
  • Deadline for submitting bids: 17/11/2023

Woodworking company

Main features:

  • Business: Company specialising in woodworking, with three activities: sawmilling, parquetry and forestry.
  • Location: Aube
  • CA 2022 : 1,5 M€
  • Headcount 6 employees
  • Deadline for submitting bids: 17/11/2023

Research, publishing, sales of books

Main features:

  • Business: Research, publishing, sales of books to institutions, distribution, logistics.
  • Location: Oise
  • 2022 revenues: 1,5 M€ – 2021 revenues: 1,5 M€
  • Headcount 29 employees
  • Deadline for submitting bids: 17/11/2023

DSL – Brand Adishatz

Main features:

  • Business: Subcontractor in the manufacture and marketing of textile products for the Adishatz brand.
  • Location: Saint-Perdon (Landes)
  • Company registration number: 753 905 033
  • 2022 revenues: 1,4 M€
  • Headcount 15 employees
  • Deadline for submitting bids: 27/11/2023

Machining, manufacturing and marketing of aluminium profiles

Main features:

  • Business: Machining, manufacturing and marketing of aluminium profiles, assembly and programming of home automation systems.
  • Location: PACA
  • 2022 revenues: 1,1 M€
  • Headcount 5 employees
  • Deadline for submitting bids: 05/12/2023

Atelier de Louise – La boutique de Chambourcy

Main features:

  • Business: Sale of furniture, furnishings and interior and exterior decoration.
  • Location: Chambourcy (Yvelines)
  • Company registration number: 503 604 761
  • 2021 revenues: 995 K€ – 2020 revenues: 827 K€ – 2019 revenues: 1,4 M€
  • Headcount 2 employees
  • Deadline for submitting bids: 15/12/2023