News
20.10.2023Arnaud Pédron, Numa Rengot

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 and NMA Gestion

Main features:

  • Business:
    Avenel: Building, infrastructure and industry.
    NMA Gestion: sub-holding company (HR, accounting, purchasing).
  • Location: Darnetal (Seine-Maritime)
  • Company registration number: Avenel : 439 572 926 – NMA Gestion : 424 341 220
  • 2022 revenues: Avenel : 46 M€ – NMA Gestion : 11,3 M€
  • Headcount: Avenel : 277 employees – NMA Gestion : 34 employees
  • Deadline for submitting bids: 06/11/2023

Automotive equipment manufacture

Main features:

  • Business: Second-tier automotive equipment manufacturer (plastic injection, mould design and production).
  • Location: 5 production sites in Hauts de France, 1 in Romania, 1 in Turkey and 1 in Morocco.
  • 2021 revenues: 35,6 M€
  • Headcount 380 employees
  • DLDO : 30/11/2023

transport routier

Refrigerated transport and logistics in the food sector

Main features:

  • Business: Refrigerated transport and logistics in the food sector. Transport of fresh and frozen products, mainly in western France and the Rhône-Alpes region, through a network of four agencies.
  • Location: Nouvelle Aquitaine and Poitou-Charentes
  • 2022 revenues: 35,5 M€
  • Headcount 310 employees
  • Deadline for submitting bids: 27/10/2023

Bonton

Main features:

  • Business: Purchase and sale of clothing, furniture and accessories for the family, mainly for babies, children, teenagers and women.
  • Location: 7 shops in France, with a subsidiary in the USA and one in Belgium.
  • Company registration number: 428 565 782
  • 2022 revenues: 14,6 M€ – 2021 revenues: 13,6 M€ – 2022 revenues: 11,4 M€
  • Headcount 86 employees
  • Deadline for submitting bids: 06/11/2023

National pizzeria group

Main features:

  • Business: National pizzeria group.
  • 2022 revenues: 14 M€ – 2021 revenues: 12 M€ – 2020 revenues: 10 M€ – 2019 revenues: 7 M€
  • Headcount 110 employees
  • Deadline for submitting bids: 17/11/2023

Repair, purchase and sale of motorbikes

Main features:

  • Business: Repair, purchase and sale of new and used motorbikes and leisure equipment, manufacture and sale of spare parts, accessories and gadgets for motorbikes.
  • Location: Marseille (Bouches-du-Rhône)
  • 2022 revenues: 10,2 M€ – 2021 revenues: 10,3 M€
  • Headcount 19 employees
  • DLDO : 31/10/2023

Collective catering

Main features:

  • Business:
    Firm 1 : Other catering services.
    Firm 2 : Collective catering under contract.
  • Location: Gironde
  • 2022 revenues: Firm 1 : 9.7 M€ – Firm 2 : 426 K€
  • Headcount: Firm 1: 180 employees – Firm 2 : 0 employee
  • Deadline for submitting bids: 17/11/2023

Construction of single-family homes

Main features:

  • Business: Construction of single-family homes.
  • Location: Nouvelle Aquitaine
  • 2022 revenues: 8,3 M€ – 2021 revenues: 9,1 M€
  • Headcount 30 employees
  • Deadline for submitting bids: 27/10/2023

Pharmacy

Main features:

  • Business: Pharmacy.
  • Location: Paris
  • 2023 revenues: 8,8 M€
  • Headcount 29 employees
  • Deadline for submitting bids: 03/11/2023

Galldis (brand Carrefour Market)

Main features:

  • Business: Supermarket under the Carrefour Market brand.
  • Location: Gallardon (Eure-et-Loir)
  • Company registration number: 493 693 642
  • 2022 revenues: 8,3 M€
  • Headcount 27 employees
  • Deadline for submitting bids: 30/10/2023

Communications strategy agency

Main features:

  • Business: Communications strategy agency for Premium brands. It supports its customers in marketing strategy and communications, particularly in the development of brands throughout France.
  • Location: Rhône-Alpes
  • 2022 revenues: 5,4 M€ – 2021 revenues: 5,9 M€
  • Headcount 25 employees
  • Deadline for submitting bids: 25/10/2023

Leco

Main features:

  • Business: Engineering construction activities (modular wood construction market).
  • Location: Loire valley
  • CA 2022 : 5,2 M€
  • Headcount 2 employees
  • Deadline for submitting bids: 03/11/2023

Engineering company specialising in test equipment

Main features:

  • Business: Engineering company specialising in test equipment for simulating physical phenomena. Design, manufacture and marketing of test equipment for simulating physical phenomena.
  • Location: Ile-de-France
  • 2022 revenues: 5,1 M€
  • Headcount 19 employees
  • Deadline for submitting bids: 08/11/2023

Virtual assistant solution to support sick patients and their families

Main features:

  • Business: The development of support solutions for sick patients and their families using virtual assistants, with more than 15 applications dedicated to different diseases.
  • Location: Hérault
  • 2022 revenues: 4,4 M€ – 2021 revenues: 1,9 M€ – 2020 revenues: 1,6 M€
  • Headcount 46 employees
  • Deadline for submitting bids: 28/10/2023

Commercial printing

Main features:

  • Business: Commercial printing.
  • 2022 revenues: 1,2 M€
  • Headcount 10 employees
  • Deadline for submitting bids: 03/11/2023