News
08.02.2022Arnaud Pédron, Numa Rengot

Distressed acquisition opportunities – February 2022

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).

Sigfox

Main features:

  • Business: French telecommunications operator in the Internet of Things (connectivity of objects and geolocation services, design, marketing and sale of radio frequency electronic equipment).
  • Location: Labège (Haute-Garonne)
  • Company registration number: 514 582 444
  • Headcount 250 employees (Group)
  • 2021 revenues : 25 M€
  • Deadline for submitting bids: 25/02/2022
 

Navtis

Main features:

  • Business: Construction, ship repair and industrial and project management. Sector of activity: Naval, EMR, Industry, Oil & Gas.
  • Location: Brest (Finistère) and Valognes (Manche)
  • Company registration number: 340 677 921
  • Headcount 206 employees
  • 2020 revenues: 17 M€
  • Deadline for submitting bids: 25/02/2022

Cobral

Main features:

  • Business: Production and marketing of fresh and frozen delicatessen snack products (snacks, puff pastries, household pasta, etc.).
  • Location: Pontivy (Morbihan)
  • Company registration number: 393 757 067
  • Headcount 83 employees
  • 2021 revenues:10,2 M€ – 2020 revenues: 12 M€
  • Deadline for submitting bids: 15/03/2022

Shampoo by Michel Dervyn – Le Barbier de Michel Dervyn

Main features:

  • Business: Operation of 3 hair salon brands (109 salons).
  • Location: National mainly in shopping centres
  • Headcount 190 employees directly and 700 employees through the franchise network
  • Revenues : not known
  • Deadline for submitting bids: 28/02/2022
transport routier

Transports Duquesnoy

Main features:

  • Business: Road transport of goods.
  • Location: Achicourt (Pas-de-Calais)
  • Headcount 67 employees
  • 2020 revenues: 7,9 M€
  • Deadline for submitting bids: 31/03/2022

Precision machining

Main features:

  • Business: Construction, ship repair and industrial and project management.
  • Location: Haute-Savoie
  • Headcount 79 employees
  • 2020 revenues: 5,4 M€ – 2019 revenues: 9,4 M€
  • Deadline for submitting bids: 28/02/2022

Structural work and general masonry

Main features:

  • Business: Structural work and general masonry.
  • Location: Locmiquelic (Morbihan)
  • Headcount 22 employees
  • 2020 revenues: 5,5 M€
  • Deadline for submitting bids: 18/03/2022

service à la personne

Home help and residential care

Main features:

  • Business: Home help for the elderly 600 beneficiaries per month – Residential home with 42 places – Home nursing service with a capacity of 39 people.
  • Headcount 146 employees
  • 2020 revenues: 369 K€ – 2019 revenues: 4,16 M€
  • Deadline for submitting bids: 11/03/2022

Miroglace

Main features:

  • Business: Mirrors, carpentry.
  • Location: Nevers (Nièvre)
  • Company registration number: 671 880 144
  • Headcount 28 employees
  • 2021 revenues (8 months): 1,8 M€ – 2020 revenues (6 months): 2,8 M€ – 2019 revenues (18 months): 4,2 M€
  • Deadline for submitting bids: 07/03/2022

Boust Société Nouvelle

Main features:

  • Business: Precision machining of metal parts.
  • Location: Louviers (Eure)
  • Company registration number: 383 004 488
  • Headcount 31 employees
  • 2021 revenues (project) : 1,3 M€ – Revenues medium 2018/2020: 3 M€
  • Deadline for submitting bids: 28/02/2022

Franchise Axeo Services

Main features:

  • Business: A personal services company and a business services company.
  • Location : Yvelines
  • Company registration number: 489 420 075
  • Headcount 40 employees (of which 36 in the personal services sector)
  • Revenues personal services: 2021 : 755 K€ – 2020 : 687 K€ – 2019 : 978 K€
    Revenues corporate services : 2021 : 77 K€ – 2020 : 37 K€ – 2019 : 150 K€
  • Deadline for submitting bids: 28/02/2022

Machining of mechanical parts

Main features:

  • Business: Double-sided grinding, machining of mechanical parts, particularly in the automotive sector.
  • Location: Aulnay-sous-Bois (Seine-Saint-Denis)
  • Headcount 10 employees
  • Revenues 2021 (10 months): 534 K€ – Revenues 2020: 737 K€
  • Deadline for submitting bids: 01/03/2022

Agricool

Main features:

  • Business:A player in indoor urban agriculture. R&D centre with agro and tech expertise, knowledge and proprietary tools that can be deployed on a large scale. Production and sale of ready-to-use strawberries, salads and herbs to supermarkets in the Ile de France region.
  • Location: La Courneuve (Seine-Saint-Denis)
  • Headcount 64 employees
  • 2021 revenues: 302 K€
  • Deadline for submitting bids: 11/03/2022

Digital platform functioning as a social network entirely dedicated to sport

Main features:

  • Business: Technology company that develops and operates a digital platform that functions as a social network dedicated entirely to sport
  • Headcount 40 employees
  • Revenues : 2 K€
  • Deadline for submitting bids: 01/03/2022