Distressed acquisition opportunities – 3 november 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)

		Condat & Condat énergie biomasse Main features: Business: Condat specialises in the manufacture of glassine (SCK) and single-sided coated paper (CFW 1S). Condat biomass energy: biomass boiler (CSR) to be commissioned in 2024 Location: Lardin-St-Lazare (Dordogne) Company registration number: 420 743 221 2024 revenues: Condat : 255 M€ – Condat énergie biomasse : 4,3 M€ Headcount 121 employees (Condat) Deadline for submitting bid: 24/11/2025
		GMT Main features: Business: Waterproofing, roofing, structural protection, insulation, public buildings Location: Serres-Castet (Pyrénées-Atlantiques) Company registration number: 349 768 713 2024 revenues: 9,9 M€ Headcount 18 employees Deadline for submitting bid: 28/11/2025
		Excelium Main features: Business: Company specialising in security (television and video surveillance services) Location: Great West, Ile de France, Occitanie Company registration number: 450 248 265 2024 revenues: 6,8 M€ Headcount 66 employees Deadline for submitting bid: 24/11/2025
		Debt collection, management, consulting Main features: Business: Debt collection, management, advice on debt management and economic and commercial information, securing working capital requirements Location: France (five main sites in France and within the European Union) 2024 revenues: between 5 and 10 M€ Headcount: between 50 and 100 employees Deadline for submitting bid: 28/11/2025
		Spintank Main features: Business: Corporate and institutional communications agency, predominantly digital, with strong references in the energy, environment, digital, mobility, health and insurance sectors Location: Paris Company registration number: 490 067 022 2024 revenues: 5,5 M€ Headcount 38 employees Deadline for submitting bid: 08/12/2025
		AS Meca Bernard (Roche Meca Tech) Main features: Business: Long-established industrial engineering company on a human scale in the defence and nuclear sectors (large-scale machining and turning centre) Location: Saint-Étienne area (Loire) Company registration number: 397 853 466 2024 revenues: 4,9 M€ – 2025 revenues(landing) : 3,2 M€ Headcount 39 employees Deadline for submitting bid: 07/11/2025
		Eyewear design and manufacture Main features: Business: Design and manufacture of acetal glasses Location: Eure 2024 revenues: 4,6 M€ Headcount 48 employees Deadline for submitting bid: 24/11/2025
		France Prefa Concept Main features: Business: Design, development, manufacture and marketing of original prefabricated copper multi-connector systems for fluid connections and other complementary uses Location: Saint-Paul-lès-Dax (Landes) Company registration number: 539 636 092 2024 revenues: 4,4 M€ – 2023 revenues: 3,6 M€ Headcount 22 employees Deadline for submitting bid: 19/11/2025
		MPM (ACI Groupe) Main features: Business: Specialist in bar turning, machining and grinding of mechanical parts for the automotive industry (torsion bars, multi-spindle, centreless grinding, sliding headstock) Location: Thyez (Haute Savoie) 2025 revenues: 2,5 M€ – 2024 revenues: 5,8 M€ Headcount 39 employees Deadline for submitting bid: 27/11/2025
		We don’t need roads (WDNR) Main features: Business: Consulting firm specialising in climate issues, working mainly for major accounts and large companies, with a predominantly European client base and a few clients in the United States Location: Paris Company registration number: 883 520 199 2024 revenues: 2,1 M€ – 2023 revenues: 1,2 M€ – 2022 revenues: 1,7 M€ Headcount 9 employees Deadline for submitting bid: 14/11/2025
		Domaine Perrier Père et fils Main features: Business: Wine production area Location: Porte-de-Savoie (Savoie) Company registration number: 429 127 509 2024 revenues: 1 M€ – 2023 revenues: 1,4 M€ – 2022 revenues: 1,2 M€ Headcount 4 employees Deadline for submitting bid: 21/11/2025
		Luxury leather goods Main features: Business: Retail sale of luxury leather goods and travel items under own brand, via e-commerce and a shop in Paris Location: Paris 2024 revenues: 960 K€ Headcount 3 employees Deadline for submitting bid: 01/12/2025
		Kintaro café Main features: Business: Japanese-inspired patisserie and tea room, with food and drinks available to eat in or take away Location: Paris Company registration number: 821 613 817 2024 revenues: 255 K€ – 2023 revenues: 288 K€ – 2022 revenues: 526 K€ Headcount 16 employees Deadline for submitting bid: 26/11/2025
		Allo chauffage Normandie Main features: Business: Finishing works company specialising in home renovation and improvement for professionals and private individuals Location: Saint-Etienne-du-Rouvray (Seine Maritime) Company registration number: 799 910 070 Headcount 35 employees Deadline for submitting bid: 13/11/202