News
05.04.2023Arnaud Pédron, Numa Rengot

Distressed acquisition opportunities – April 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).

 

CDB

Main features:

  • Business: Company operating in the management, transformation and fitting out of workspaces for a portfolio of clients consisting of SMEs and large groups. A major player in the sector, having obtained the Lucie ISO 26000 label and the EcoVadis label.
  • Location: Paris (Ile-de-France)
  • Company registration number: 528 150 774
  • Headcount 62 employees
  • 2022 revenues: 48,7 M€
  • Deadline for submitting bids: 25/04/2023

Shoes -Clergerie Paris

Main features:

  • Business: Manufacture and sale of top-of-the-range shoes under the “Clergerie Paris” brand
  • Location: Plant in Romans-sur-Isère (Drôme), 6 shops in France, 4 department stores’ corners and an online store.
  • Headcount: FIRO : 20 employees – SRC : 87 employees – Clerma : 42 employees
  • 2022 revenues (consolidated): 20 M€
  • Deadline for submitting bids: 21/04/2023

SAS Pincemin

Main features:

  • Business: Design, construction, installation and marketing of customised and prefabricated wood-frame modules (B2B and B2C).
  • Location: Ploufragan (Côtes-d’Armor)
  • Company registration number: 789 185 766
  • Headcount 184 employees
  • 2022 revenues: 17 M€
  • Deadline for submitting bids: 28/04/2023

Boning and cutting of meat

Main features:

  • Business: Company specialising in boning and cutting meat (fresh and frozen).
  • Location: Aquitaine
  • Headcount 22 employees
  • 2022 revenues: 15 M€
  • Deadline for submitting bids: 03/05/2023

Chaînes et roues dentées Rafer

Main features:

  • Business: Headquarter: Manufacture of conveyor chains Secondary establishment: Manufacture of bearings in 8.
  • Location: Saint-Chamond (Loire) and Dieuze (Moselle)
  • Company registration number: 442 093 217
  • Headcount: Headquarter: 37 employees – Secondary establishment: 83 employees
  • 2022 revenues: 12 M€
  • Deadline for submitting bids: 09/05/2023

Design and manufacture of isolation ball valves

Main features:

  • Business: Design and manufacture of isolation ball valves for the oil and gas industry, from the exploration to the storage phase.
  • Location: Provence Alpes Côte d’Azur
  • Headcount 48 employees
  • 2021 revenues: 10 M€
  • Deadline for submitting bids: 10/04/2023

Women’s ready-to-wear

Main features:

  • Business: Company that designs, manufactures and distributes women’s ready-to-wear clothing. Network of 13 boutiques in France, 1 outlet and 48 affiliates.
  • Location: Aube
  • Headcount 43 employees
  • 2022 revenues: 5,7 M€
  • Deadline for submitting bids: 26/03/2023

All work on building sites following damage

Main features :

  • Business: All work, preparation, cleaning and finishing of building sites following disasters.
  • Location: Provence Alpes Côte d’Azur
  • Headcount 109 employees
  • 2022 revenues: 5,4 M€
  • Deadline for submitting bids: 17/04/2023

Construction | Photovoltaic plants – Agricultural buildings

Main features:

  • Business:
    Company 1: Photovoltaic power plant installation and roof renovation business, throughout France, with an order book of over 2 million euros.
    Company 2: Construction company for agricultural and industrial buildings throughout France with an order book of 500,000 euros.
  • Location: Saint Valéry en Caux (Seine-Maritime)
  • Headcount: Company 1: 13 employees – Company 2: 4 employees
  • 2022 revenues: Company 1 :  1 M€ – Company 2 : 1,5 M€
  • Deadline for submitting bids: 02/05/2023

Fancy dress and party supplies

Main features:

  • Business: Creation and marketing of fancy dress and other festive items.
  • Location: Pays de Loire
  • Headcount 17 employees
  • 2022 revenues: 1,9 M€
  • Deadline for submitting bids: 05/05/2023

Norauto

Main features:

  • Business: All activities concerning cars, motor sports and motorbikes, car wash under the Norauto franchise.
  • Location: Seine-et-Marne
  • Headcount 9 employees
  • 2021 revenues: 1,8 M€
  • Deadline for submitting bids: 19/04/2023

CGM Sports Club

Main features:

  • Business: Fitness and sports hall under the CGM Sports Club banner with a 2,800m2 building complex in the 17th arrondissement.
  • Location: Paris (Ile-de-France)
  • Headcount 5 employees
  • 2021 revenues: 1,5 M€
  • Deadline for submitting bids: 21/04/2023

Indonesian fast food

Main features:

  • Business: Company specialized in Indonesian fast food.
  • Location: Paris (Ile-de-France)
  • Headcount 14 employees
  • 2021 revenues: 1,5 M€
  • Deadline for submitting bids: 24/04/2023

Scientific research company

Main features:

  • Business: Society for Applied Scientific Research in Cardiometabolic Diseases.
  • Location: Les Ulis (Essonne)
  • Headcount 16 employees
  • 2022 revenues: 1,2 M€
  • Deadline for submitting bids: 19/04/2023
service à la personne

Personal services – home assistance

Main features:

  • Business: Personal services – home assistance.
  • Location: Saint-Brieuc (Côtes-d’Armor)
  • Headcount 46 employees
  • 2022 revenues: 950,3 K€
  • Deadline for submitting bids: 03/05/2023