Distressed acquisition opportunities – June 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).

		L’atelier des compagnons Main features: Business: Company specialising in the construction, renovation, HVAC/energy engineering and refurbishment of B-to-B buildings. Location: Seine-Saint-Denis Company registration number: 332 035 690 2022 revenues: 94 M€ Headcount 237 employees Deadline for submitting bids: 31/08/2023
		Baudoin Construction Bois Main features: Business: Fund for carpentry and joinery work Location: Jans (Loire-Atlantique) Company registration number: 420 051 724 2022 revenues: 44,2 M€ – 2021 revenues: 4,4 M€ Headcount 41 employees Deadline for submitting bids: 12/07/2023
		Max Plus Main features: Business: A group specialising in the sale of off-the-shelf goods for over 30 years, through its network of 45 sales outlets in mainland France – 4 companies: BCR France, Alain Declercq, Stock Plus and L3P Company registration number: 881 611 875 – 300 950 920 – 408 656 247 – 843 908 021 2022 revenues: 32,4 M€ – 2021 revenues: 41,7 M€ Headcount 211 employees Deadline for submitting bids: 26/06/2023
		LS Services (SCOP) Main features: Business: Historically specialised in the design, installation and maintenance of energy systems, the company works as a service provider for energy distributors (ENEDIS and GRDF) as part of calls for tender. Location: Saint-Priest (Rhône) and 3 property assets(Saint Jacques de la Lande (Ille-et-Vilaine), Mours-Saint-Eusèbe (Drôme) and Bussy-Saint-Georges (Seine-et-Marne)) 2022 revenues: 21,3 M€ – 2019 revenues: 37,8 M€ Headcount 294 employees Deadline for submitting bids: 20/07/2023
		Food logistics services company Main features: Business: Food logistics services company Location: Ile-de-France 2022 revenues: 16,8 M€ – 2021 revenues: 15,5 M€ – 2020 revenues: 18,1 M€ Headcount 38 employees Deadline for submitting bids: 25/08/2023
		Construction companies Main features: Business: Group of 3 construction companies: Holding company, wood and PVC joinery company and finishing company (home fittings). Location: Bouches-du-Rhône 2022 revenues: 15 M€ Headcount 53 employees Deadline for submitting bids: 26/06/2023
		Mujoo France (Filiale du groupe Green Riders) Main features: Business: Supply of electric mobility solutions, in particular electric two-wheelers (scooters/motorbikes), and associated services. Exclusive distribution of “Super Soco” brand two-wheelers in France. Location: Seine-Saint-Denis et Villeurbanne (Rhône-Alpes) Company registration number: 829 706 720 2022 revenues: 10,3 M€ – 2021 revenues: 4,7 M€ – 2020 revenues: 4,5 M€ Headcount 4 employees Deadline for submitting bids: 20/06/2023
		Glued laminated timber frame company Main features: Business: Glued laminated timber frame company Location: Nouvelle Aquitaine 2022 revenues: 10,2 M€ – 2021 revenues: 18,1 M€ Headcount 40 employees Deadline for submitting bids: 21/07/2023
		Adhesive film company Main features: Business: Company marketing adhesive films, printing media and protective films 2022 revenues: 8,7 M€ – 2021 revenues: 9 M€ Headcount 22 employees Deadline for submitting bids: 10/07/2023
		5 health care centers Main features: Business: 5 health care centers (dental, ophthalmology and ENT) Location: 5 centres in the Paris area (Montigny-le-Bretonneux, Mantes, Buchelay, Kremlin-Bicêtre, Arcueil and Osny) 2022 revenues: 8,4 M€ Headcount 99 employees Deadline for submitting bids: 03/07/2023
		Foundry Main features: Business: Foundry and workshops for the design and production of technical parts in cast steel Location: Ploërmel (Morbihan) 2022 revenues: 7,8 M€ Headcount 75 employees Deadline for submitting bids: 26/07/2023
		Road transport Main features: Business: Road haulage, logistics, storage, subcontracting, freight forwarding, groupage activities Location: Bassin roannais 2022 revenues: 6,3 M€ – 2021 revenues: 7,6 M€ – 2020 revenues: 8,1 M€ Headcount 76 employees Deadline for submitting bids: 26/06/2023
		Delivert Main features: Business: Company specialising in vegetable processing and preservation for 25 years on the intermediate food products market Location: Plouhinec (Morbihan) Company registration number: 382 047 389 2023 revenues: 5,4 M€ Headcount 53 employees Deadline for submitting bids: 20/07/2023
		Purchase, sale and repair of guns Main features: Business: Company specialising in the purchase, sale and repair of guns, hunting, shooting, fishing and cutlery, particularly by mail order Location: Gard 2023 revenues: 3,3 M€ – 2021 revenues: 3,6 M€ – 2020 revenues: 4 M€ Headcount 14 employees Deadline for submitting bids: 11/07/2023
		Doctinnovation Enseigne Doctibike (Filiale à 85% du groupe Green Riders) Main features: Business: Repair, reconditioning and trading of batteries for electric mobility (electric bikes, scooters and motorbikes) Location: Villeurbanne (Rhône) Company registration number: 801 081 282 2022 revenues: 2,2 M€ – 2021 revenues: 1,7 M€ – 2020 revenues: 714 K€ Headcount 15 employees Deadline for submitting bids: 03/07/2023