Distressed acquisition opportunities – 29 september 2025

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)

		Women’s ready-to-wear group Main features: Business: Ready-to-wear clothing group targeting female customers (127 stores operated, including 78 branches and 49 affiliates) Company registration number: Établissements Vergy-Industries : 353 107 931 – Les Créations LTN : 426 150 058 – CL Distribution : 398 330 357 – CL Stocks : 500 898 788 2024 revenues: Établissements Vergy-Industries : 4,8 M€ – Les Créations LTN : 27,5 M€ – CL Distribution : 39,7 M€ – CL Stocks : 2,4 M€ Headcount: Établissements Vergy-Industries : 21 employees – Les Créations LTN : 11 employees – CL Distribution : 233 employees – CL Stocks : 19 employees Deadline for submitting bid: 31/10/2025
		Pigments and additives Main features: Business: Design, manufacture and marketing of pigments and additives for a wide range of industrial applications. Location: Hauts-de-France 2024 revenues: 33,6 M€ Headcount 113 employees Deadline for submitting bid: 17/10/2025
		PM Industrie Main features: Business: Carpentry, wood, aluminium and PVC work Location: Dijon (Côte d’Or) Company registration number: 849 771 928 2024 revenues: 12,8 M€ – 2023 revenues: 15,8 M€ Headcount 69 employees Deadline for submitting bid: 31/10/2025
		Groupe Case à pains Main features: Business: Bakeries, pastry shops, production laboratories Location: Île de La Réunion Company registration number: 808 271 233 2024 revenues: 12,5 M€ Headcount 200 employees Deadline for submitting bid: 24/10/2025
		Connected application for employee engagement and wellbeing at work Main features: Business: Development and marketing of a connected application for employee engagement and well-being at work (portfolio of over 1,000 clients, including 150 active key accounts) 2024 revenues: 7,9 M€ Headcount 47 employees Deadline for submitting bid: 23/10/2025
		Nouvelle Clinique de Chartreuse Main features: Business: Private medical and surgical clinic with 44 private practitioners (ophthalmic surgery, gastroenterology, digestive surgery) Location: Voiron (Isère) Company registration number: 801 916 586 2024 revenues: 7,8 M€ – 2023 revenues: 8,0 M€ – 2022 revenues: 8,1 M€ Headcount 113 employees Deadline for submitting bid: 24/11/2025
		Adiamas Main features: Business: Manufacture of stainless steel blades and discs for domestic or professional food processors Location: Palladuc (Puy de Dôme) Company registration number: 305 823 403 2024 revenues: 7,7 M€ Headcount 58 employees Deadline for submitting bid: 27/10/2025
		Delaval Main features: Business: Specialised construction work, supply and installation of flexible floor coverings and interior finishing work Location: Courbevoie (Hauts-de-Seine) Company registration number: 672 038 809 2024 revenues: 7,2 M€ – 2023 revenues: 9,7 M€ Headcount 22 employees Deadline for submitting bid: 10/10/2025
		Anaïs Main features: Business: Retail sale of perfumes and cosmetics in specialised stores – Beauty salon Location: Lescar (Pyrénées-Atlantiques) and sites in Bayonne, Dax, Tarbes, Toulouse Company registration number: 334 161 890 2023 revenues: 4,3 M€ Headcount 25 employees Deadline for submitting bid: 24/10/2025
		Manufacture of jewellery Main features: Business: Manufacture of jewellery and jewellery items Location: Drôme and Rhône 2024 revenues: 3,6 M€ Headcount : 48,8 full-time equivalent Deadline for submitting bid: 29/10/2025
		Catering Main features: Business: Catering (out-of-home catering business) Location: Lyon (Rhône) 2024 revenues: 1,8 M€ – 2023 revenues: 1,8 M€ Headcount 15 employees Deadline for submitting bid: 06/10/2025
		Embalming and mortuary care Main features: Business: Embalming and mortuary care Location: Hauts de France 2024 revenues: 1,1 M€ Headcount 15 employees Deadline for submitting bid: 14/10/2025
		Villa du Taur Main features: Business: Hospitality, catering Implantation géographique : Toulouse (Haute Garonne) 2024 revenues: 860 K€ Headcount 15 employees Deadline for submitting bid: 06/10/2025
		Home help for elderly people Main features: Business: Home help and support service for elderly people, people with disabilities or people who have lost their independence Location: Val-de-Marne 2024 revenues: 479 K€ Headcount 17 employees Deadline for submitting bid: 17/10/2025