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).

		Groupe Mare Nostrum Main features: Business: Temporary work, freelance administration, training, HR services, recruitment – 34 companies, including 17 temporary work agencies Location: Aura, Bretagne, Nouvelle Aquitaine, Occitanie, PACA, Paris area 2023 revenues: 106 M€ Headcount 145 employees and 1909 tempory workers Deadline for submitting bids: 12/11/2024
		Leading European player in seamless speciality tubes Main features: Business: Leading European player in seamless speciality tubes Location: Montbard (Côte d’Or) 2023 revenues: 50,5 M€ – 2022 revenues: 69,3 M€ – 2021 revenues: 47,9 M€ Headcount 130 employees Deadline for submitting bids: 10/12/2024
		Industrial group Main features: Business: Industrial group, mechanical engineering industry – Precision mechanics Location: Amboise (Indre et Loire) and Cholet (Maine et Loire) Company registration number: 321 017 170 2023 revenues: Holding: 20 M€ – Company 1: 13,5 M€ – Company 2: 6 M€ Headcount: Holding: 190 employees – Company 1: 120 employees – Company 2: 48 employees Deadline for submitting bids: 31/10/2024
		Freight delivery company Main features: Business: Company delivering ‘last mile’ goods using 100% environmentally friendly vehicles in the Ile-de-France region Location: Chilly Mazarin (Essonne) et Thiais Seine et Marne) 2024 revenues: 13,6 M€ – 2023 revenues:15 M€ Headcount 24 employees Deadline for submitting bids: 18/11/2024
		Transports Philippe Cazaubon Main features: Business: Transport and logistics Location: Saint-Perdon (Landes) Company registration number: 351 220 744 2023 revenues: 11,3 M€ Headcount 93 employees Deadline for submitting bids: 19/11/2024
		IT systems and software consultancy Main features: Business: IT systems and software consultancy Location: Dijon (Côte d’Or) CA du 20/05/2022 au 31/01/2023 : 4,3 M€ Headcount 93 employees Deadline for submitting bids: 25/11/2024
		LR Automobiles Main features: Business: Manufacture of and trade in rubber, elastomer, plastic products and derivatives Location: Meyzieu (69) Company registration number: 397 465 196 2023 revenues: 3,7 M€ – 2022 revenues: 3,9 M€ – 2021 revenues: 3,9 M€ Headcount 23 employees Deadline for submitting bids: 30/10/2024
		Askol Main features: Business: Manufacture of and trade in rubber, elastomer, plastic products and derivatives Location: Meyzieu (69) Company registration number: 397 465 196 2023 revenues: 3,7 M€ – 2022 revenues: 3,9 M€ – 2021 revenues: 3,9 M€ Headcount 23 employees Deadline for submitting bids: 30/10/2024
		Top-of-the-range eyewear Main features: Business: Design and distribution of top-of-the-range eyewear for men and women Location: Paris 2024 (project) revenues: 3,2M€ – 2023 (project) revenues: 5,7 M€ – 2022 revenues: 6,6 M€ Headcount 17 employees Deadline for submitting bids: 18/11/2024
		Agéfret Main features: Business: Road freight transport Location: Bouches du Rhône Company registration number: 820 843 373 2023 revenues: 3,1 M€ Headcount 18 employees Deadline for submitting bids: 15/10/2024
		Orium Main features: Business: Import and marketing of technical products (solar batteries, clocks, air quality meters, garden equipment, etc.) Location: Sainte-Luce-sur-Loire (Loire Atlantique) Company registration number: 384 140 729 2023 revenues: 2,8 M€ Headcount 12 employees Deadline for submitting bids: 27/10/2024
		Reconditioning of used printer cartridges Main features: Business: Reconditioning of used printer cartridges (dismantling, cleaning, changing components, refilling cartridges) Location: Hérault 2023 revenues: 1,8 M€ – 2022 revenues: 1,9 M€ – 2021 revenues: 1,8 M€ Headcount 22 employees Deadline for submitting bids: 25/11/2024
		Dentelles Michel Storme Main features: Business: Design and manufacture of lace mainly for the lingerie and dress & accessories markets Location: Calais (Pas de Calais) Company registration number: 314 953 423 2023 revenues: 970 K€ Headcount 18 employees Deadline for submitting bids: 29/11/2024
		Catering and drinks Main features: Business: Catering and drinks – Licence IV Location: Paris 2023 revenues: 678 K€ Headcount 5 employees Deadline for submitting bids: 25/11/2024
		Caddie (company in receivership) Main features: Business: Takeover of tangible assets (according to inventory) and intangible assets (brands and domain names) Location: Dettwiller (Bas Rhin) Deadline for submitting bids: 29/11/2024