Data-&-Cyber

Distressed acquisition opportunities – May 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).

Niche Fused Alumina

Main features:

  • Business: Company specialising in the production of white corundum, ferro-sillicon nitrides and sillicon, mainly for export (89% of sales) and operation of a hydroelectric power station in La Bâthie.
  • Location: 3 production sites in Savoie (2 in La Bâthie and 1 in Aiguebelle)
  • Company registration number: 382 844 470
  • 2022 revenues: 46,1 M€
  • Headcount 176 employees
  • Deadline for submitting bids: 10/06/2024

Design and manufacture of timber structures and timber construction

Main features:

  • Business: Design and manufacture of timber structures and timber construction
  • 2022-2023 revenues: 45 M€ – CA 2021-2022 revenues : 40 M€
  • Headcount 236 employees
  • Deadline for submitting bids: 24/05/2024

Interior’s

Main features:

  • Business: Manufacture and sale of furniture and decoration
  • Location: Le Havre (Seine Maritime)
  • Company registration number: 311 058 838
  • 2023 revenues: 28.,7 M€
  • Headcount: Network of 30 shops in France: 100 employees – Head office in Le Havre: 89 employees – Manufacturing workshop in Vietnam: 400 employees
  • Deadline for submitting bids: 24/05/2024

Duralex

Main features:

  • Business: Manufacture and sale of tempered glass: glassware, tableware, kitchenware (dishes, moulds, tins), etc.
  • Location: La Chapelle Saint Mesmin (Loiret)
  • Company registration number: 505 397 554
  • 2023 revenues: 24,6 M€ – 2022 revenues: 31,2 M€
  • Headcount 227 employees
  • Deadline for submitting bids: 31/05/2024

Cash Converters

Main features:

  • Business: Buying and reselling second-hand goods
  • Location: Partout en France métropolitaine
  • Company registration number: 892 462 987
  • 2022 revenues: 25,4 M€ – 2021 revenues: 25,4 M€
  • Headcount 138 employees
  • Deadline for submitting bids: 10/06/2024

Elan Gipen

Main features:

  • Business: Design and manufacture of timber structures
  • Location: Bureaux d’ingénierie : Vedène (Vaucluse) et Chatte (Isère) – Bureaux : Magland (Haute-Savoie) – Ateliers de production : Pithiviers (Loiret), Remoulins (Gard), Aix-en-Provence-Les Milles (Bouches-du-Rhône)
  • Company registration number: 832 759 054
  • 2023 revenues: 19 M€ – 2022 revenues: 16,3 M€ – 2021 revenues: 15 M€
  • Headcount 110 employees
  • Deadline for submitting bids: 24/05/2024

La Manufacture des lumières

Main features:

  • Business: Design and manufacture of functional indoor lighting. (retail, service sector, mobile phones)
  • Location: Saint-Georges-de-Mons (Puy de Dôme)
  • Company registration number: 892 462 987
  • 2023 revenues: 14,6 M€ – 2022 revenues: 13,4 M€ – 2021 revenues: 12,3 M€
  • Headcount 103 employees
  • Deadline for submitting bids: 14/05/2024

Automotive equipment for professionals

Main features:

  • Business: A group comprising a holding company, two operating companies and a central purchasing unit, whose business is the wholesale of automotive equipment to professionals in the automotive sector (spare parts wholesalers, car centres, garage repairers), with a portfolio of 60,000 items under various brands.
  • Location: Yvelines
  • 2023 revenues: 10 M€ –  2022 revenues: 12 M€ – 2021 revenues: 13,5 M€
  • Headcount 46 employees
  • Deadline for submitting bids: 14/06/2024

S2IA

Main features:

  • Business: A company providing network engineering, installation and maintenance services to telecommunications groups in the Ile-de-France, Hautes-Pyrénées, Ariège, Haute-Garonne, Charente and Finistère regions
  • Location: Montreuil (Seine Saint Denis)
  • Company registration number: 528 702 004
  • 2023 revenues (project): 7,5 M€
  • Headcount 38 employees
  • Deadline for submitting bids: 17/05/2024

Building and public works company

Main features

  • Business: Building and public works company – General masonry work and building shells
  • Location: Ille de France
  • 2022 revenues (18 months)  7,4 M€
  • Headcount 17 employees
  • Deadline for submitting bids: 31/05/2024

Lehagre Jean-Paul TP

Main features:

  • Business: The company has been running a general civil engineering business 10 km north of Rennes for 35 years. It works on housing estates, urban developments, small-scale and commercial buildings and private homes in the following areas: earthworks, EU/EP networks, kerbs, paving, asphalt mixes, two-layer/three-layer coatings and PATA, etc.
  • Location: Melesse (Ille-et-Vilaine)
  • Company registration number: 452 853 674
  • 2023 revenues: 7,1 M€
  • Headcount 43 employees
  • Deadline for submitting bids: 23/05/2024

Gaiago

Main features:

  • Business: Design, manufacture and sale of high added-value agricultural inputs: soil revitalisation products and biostimulants for use in agriculture
  • Location: Saint Malo (Ille-et-Vilaine)
  • Company registration number: 803 443 787
  • 2023 revenues: 5,7 M€
  • Headcount 58 employees
  • Deadline for submitting bids: 24/05/2024

Commercial operation of aircraft

Main features:

  • Business: Commercial operation of aircraft for public passenger transport, provision of services, management and operation of private aircraft
  • Location: Gironde
  • 2023 revenues: 5,2 M€
  • Headcount: between 6 to 16 employees
  • Deadline for submitting bids: 10/05/2024

VTP – Varengevillaise de travaux publics

Main features:

  • Business: Earthworks, public and private works, building demolition, asbestos removal, public works equipment hire
  • Location: Saint-Pierre-de-Varengeville (Seine Maritimes)
  • Company registration number: 348 289 612
  • 2023 revenues: 4,7 M€
  • Headcount 43 employees
  • Deadline for submitting bids: 29/05/2024

Transport Viking

Main features:

  • Business: Intercity freight road transport on the Paris/Lyon routes
  • Location: Belleville-en-Beaujolais (Rhône Alpes)
  • Company registration number: 900 601 683
  • 2023 revenues (project) : 4,1 M€ – 2022 revenues (18 months) : 3,2 M€
  • Headcount 26 employees
  • Deadline for submitting bids: 07/06/2024

Roux Services

Main features:

  • Business: Electronic and IT services: repairs and on-site work (maintenance and installation)
  • Location: Kervignac (Morbihan)
  • Company registration number: 509 908 182
  • 2022 revenues: 4 M€
  • Headcount 29 employees
  • Deadline for submitting bids: 14/05/2024

Maskott

Main features:

  • Business: Development of software, websites, IT applications and related products. Sale of IT and multimedia equipment and solutions. Publishing of multimedia content
  • Location: Head office in Le Puy-en-Velay (Loiret) – Offices in Paris and Lyon (Rhône-Alpes)
  • Company registration number: 479 875 718
  • 2023 revenues: 4 M€ – 2022 revenues: 3,2 M€ – 2021 revenues: 4,1 M€
  • Headcount 31 employees
  • Deadline for submitting bids: 31/05/2024

Saniquatair

Main features:

  • Business: Installation of heating and air-conditioning equipment
  • Location: Bon-en-Chablais (Haute Savoie)
  • 2023 revenues: 3 M€ – 2022 revenues: 2,2 M€ – 2021 revenues: 1,9 M€
  • Company registration number: 818 878 985
  • Headcount 19 employees
  • Deadline for submitting bids: 10/05/2024

Sales of scooters, rollerblades and skateboards

Main features:

  • Business: Specialist retailer of scooters, rollerblades and skateboards, in-store and online
  • Location: Paris
  • 2023 revenues: 2,4 M€ – 2022 revenues: 3,2 M€ – 2021 revenues: 6,4 M€
  • Headcount 16 employees
  • Deadline for submitting bids: 04/06/2024
transport routier

Public road freight transport

Main features:

  • Business: Public road freight transport
  • 2022 revenues: 2,3 M€
  • Headcount 19 employees
  • Deadline for submitting bids: 23/05/2024

Lumila

Main features:

  • Business: Design and manufacture of LED lighting and personnel protection systems
  • Location: Aulnay-sous-Bois (Seine Saint Denis)
  • Company registration number: 519 178 990
  • 2023 revenues: 2,2 M€ – 2022 revenues: 2 M€ – 2021 revenues: 3,3 M€
  • Headcount 16 employees
  • Deadline for submitting bids: 21/05/2024

Operation of a sales platform

Main features:

  • Business: Operation of a sales platform for key account customers
  • Location: Boulogne-Billancourt (Hauts-de-Seine)
  • 2024 revenues (forecast): 1,8 M€ – 2023 revenues (project): 1,7 M€ – 2022 revenues: 1,8 M€ – 2021 : 1,8 M€ – 2020 revenues: 2 M€ – 2019 revenues: 1,7 M€
  • Headcount 7 employees
  • Deadline for submitting bids: 24/05/2024

Guarding

Main features:

  • Business: Surveillance, day and night guarding
  • Location: Presence in the Aisne, Oise, Seine-Maritime and Seine-et-Marne departments
  • 2023 revenues: 1,7 M€ – 2022 revenues: 3 M€
  • Company registration number : 511 884 462
  • Headcount 49 employees
  • Deadline for submitting bids: 31/05/2024

Miroiterie Lemasson

Main features:

  • Business: Design and installation of made-to-measure aluminium joinery
  • Location: Cherbourg-en-Cotentin (Manche)
  • Company registration number: 343 801 601
  • 2022 revenues: 1,6 M€
  • Headcount 13 employees
  • Deadline for submitting bids: 31/05/2024

Annovazzi

Main features:

  • Business: General electrical contractor (design and construction of commercial and industrial buildings)
  • Location: La Motte Servolex (Savoie)
  • Company registration number: 390 663 243
  • 2023 revenues: 1,5 M€ – 2022 revenues: 1,5 M€ – 2021 revenues: 1 M€
  • Headcount 11 employees
  • Deadline for submitting bids: 24/05/2024

Groupe Emera

Main features:

  • Business: Operation of solar power plants mainly located in mainland France
  • Location: Across France
  • Company registration number: EMERA AM : 839 156 080 – NY Energie : 810 841 817 – Groupe Helianthe : 808 698 328 – Helioparc : 524 067 998
  • 2023 revenues: 1,3 M€
  • Headcount 4 employees (Groupe Helianthe) and 1 employee (Helioparc)
  • Deadline for submitting bids: 27/05/2024

Topographical surveys and studies

Main features:

  • Business: Group of 3 companies 1 holding company and 2 operating companies carrying out topographical and building surveys and studies
  • Location: Indre-et-Loire
  • Cumulative Group revenues at 31/08/2023: 1,7 M€
  • Headcount 14 employees
  • Deadline for submitting bids: 14/05/2024

JSM SGP

Main features:

  • Business: Sale of kitchens under the Ecocuisine banner
  • Location: Saint Genis Pouilly (Ain)
  • 2022 revenues (20 months): 1 M€
  • Company registration number: 898 807 987
  • Headcount 4 employees
  • Deadline for submitting bids: 03/06/2024