Distressed acquisition opportunities – January 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 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).

		SA Sicaba Main features: Business: Group of beef and sheep producers. Slaughter, cutting and processing of animals for retail butchers, specialist organic shops and restaurants. Location: Bourbon-L’Archambault (Allier) Company registration number: 936 350 024 2023 revenues: 30,1 M€ – 2022 revenues: 32,1 M€ Headcount : 89 employees – 175 employees including subsidiaries Deadline for submitting bids: 04/03/2024
		Long-distance transport company Main features: Business: Long-distance transport company Headcount 58 employees 2023 revenues: 9,8 M€ – 2022 revenues: 12,3 M€ Deadline for submitting bids: 12/02/2024
		Cadence Industrie Main features: Business: Study, design, manufacture, treatment, processing and marketing of all parts or assemblies of parts in plastic or composite materials Location: Nœux-les-Mines (Pas-de-Calais) Company registration number: 493 964 423 2022 revenues: 7,3 M€ Headcount 67 employees Deadline for submitting bids: 19/02/2024
		Carpentry – Roofing Main features: Business: Carpentry, roofing, zinc work, bricklaying, property management Location: Yonne 2023 revenues: 7 M€ – 2022 revenues: 6,6 M€ – 2021 revenues: 8,3 M€ Headcount 50 employees Deadline for submitting bids: 26/02/2024
		Hotel under the Novotel banner – SAS EPA1 Main features: Business: Hotel under the Novotel banner, 4 stars with 156 rooms Location: Saint-Denis (Seine-Saint-Denis) Company registration number: 804 137 594 2022 revenues: 5,2 M€ – 2021 revenues: 1,9 M€ – 2020 revenues: 1,9 M€ Headcount 33 employees Deadline for submitting bids: 09/02/2024
		Jenoptec Main features: Business: Optical fibre Location: Buc (Yvelines) Company registration number: 339 226 532 2023 revenues: 4,8 M€ – 2022 revenues: 6,7 M€ Headcount 33 employees Deadline for submitting bids: 14/02/2024
		Clinic Main features: Business: Operating theatre with 5 rooms + 61 beds and places (outpatient and inpatient surgery) 12 private surgeons (orthopaedics, gastroenterology, urology, ophthalmology and stomatology) + 3 anaesthetists + 9 outpatient clinics. Cosmetic surgery (authorisation to be renewed) Location: Aube 2022 revenues: 4,3 M€ Headcount 69 employees Deadline for submitting bids: 29/02/2024
		Aire Main features: Business: Company operating in the construction, building and public works sector, and more specifically in the finishing segment (e.g. glazing, painting, floor and ceiling coverings, etc.). Location: Bussy-Saint-Martin (Seine-et-Marne) Company registration number: 538 495 094 2022 revenues: 3,8 M€ – 2021 revenues: 2,1 M€ Headcount 5 employees Deadline for submitting bids: 12/02/2024
		Design of equipment and layout of premises Main features: Business: Purchase, sale and design of equipment and fittings for commercial, industrial and residential premises Location: Ile-de-France 2022 revenues: Compagny 1: 3,8 M€ – Compagny 2: 542 K€ Headcount: Compagny 1: 6 employees – Compagny 2: 6 employees Deadline for submitting bids: 09/02/2024
		Urb-It Main features: Business: Sustainable last-mile delivery service Location: Paris (Ile-de-France) Company registration number: 8919 271 70 2022 revenues: 3,2 M€ – 2021 revenues: 1,3 M€ Headcount 83 employees Deadline for submitting bids: 20/02/2024
		Bip Transports Main features: Business: Freight transport, providing regional transport in the Occitanie region as well as courier services Location: Occitanie Headcount 23 employees Revenues: 3 M€ Deadline for submitting bids: 15/02/2024
		Sale of organic products Main features: Business: Operation of a business selling organic products (foodstuffs, food supplements, eco-products, cosmetics, books, household goods) Location: Paris (Ile-de-France) Headcount 13 employees 2023 revenues: 1,6 M€ Deadline for submitting bids: 23/02/2024
		Restaurant and drinks outlets Main features: Business: Restaurant and drinks outlets – licence IV Location: Paris (Ile-de-France) Headcount 6 employees 2022 revenues: 1,1 M€ Deadline for submitting bids: 12/02/2024