News
14.12.2022Arnaud Pédron, Numa Rengot

Distressed acquisition opportunities – December 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).

 

San Marina

Main features:

  • Business : Retail of shoes, leather goods.
  • Location: 160 stores all over France.
  • Company registration number: 504 614 884
  • Headcount 656 employees
  • Revenues as of 31/08/2022 : 76 M€
  • Deadline for submitting bids: 06/01/2023

Treatment and valorization of green waste and wood

Main features:

  • Business: Treatment and valorization of green waste and wood operating classified installations for environmental protection (ICPE).
  • Location: 4 agencies: Brittany, Touraine, Ile-de-France, Normandy – 12 platforms located in the Greater West and in the Paris region.
  • Headcount: Between 100 and 150 employees.
  • 2021 revenues: Between 14 and 16 M€
  • Deadline for submitting bids: 22/12/2022

Sainthimat

Main features:

  • Business: Retail trade of hardware, paints and glasses in supermarkets.
  • Location: 3 stores: Caudry (Nord), La Bassée (Nord) and Gaillon (Eure).
  • Company registration number: 309 716 603
  • Headcount 49 employees
  • 2021 revenues: 13 M€ – 2020 revenues: 10 M€
  • Deadline for submitting bids: 15/01/2023

Fromagerie de la Meix Biogam

Main features:

  • Business: Manufacturing and marketing of organic dairy products.
  • Location: Production site in Reillon (Meurthe-et-Moselle) and logistics site in Château-Salins (Moselle), new site in Dieuze (Moselle)
  • Company registration number: 334 766 722
  • Headcount 42 employees
  • 2021 revenues: 10 M€
  • Deadline for submitting bids: 16/01/2023

Manufacture of wooden packaging

Main features:

  • Business: Group of companies composed of the following two active structures:
    1. Design and manufacture of wood and plastic packaging.
    2. Sawmill and manufacture of pallets.
  • Location: Company 1: Aube – Company 2: Côte d’Or
  • Headcount: Company 1: 38 employees – Company 2: 7 employees.
  • 2021 revenues: Company 1: 6,6 M€ – Company 2: 1,1 M€
  • Deadline for submitting bids: 05/01/2023

Manufacture and trade of all measuring devices

Main features:

  • Business: Manufacture and trade of all measuring devices.
  • Location: Hauconcourt (Moselle)
  • Headcount 71 employees
  • 2021 revenues: 6,8 M€
  • Deadline for submitting bids: 13/01/2023

Sonisol

Main features:

  • Business: Masonry work, facades and exterior insulation.
  • Location: Orvault (Loire-Atlantique)
  • Company registration number: 504 614 884
  • Headcount 41 employees
  • 2021 revenues: 6,2 M€
  • Deadline for submitting bids: 10/01/2023

Light metal foundry and machining

Main features:

  • Business: Light metal foundry, machining and assembly of various parts and materials, especially for the automotive industry.
  • Location: Orléans (Loiret)
  • Headcount 78 employees
  • 2021 revenues: 5,4 M€
  • Deadline for submitting bids: 09/01/2023

Bread Production

Main features:

  • Business:
    Company 1: Production of organic bread and pastries made in the traditional way for specialized stores, school and commercial catering and cooking terminals.
    Company 2: Production of frozen pre-cooked bread and snacks and high-end products for gourmet and starred restaurants and luxury hotels.
    Company 3: Bakery, pastry, cookie making, natural organic and dietetic products, manufacturing and sales, tasting, in-store sales and mobile sales.
  • Location: Company 1: Aubagne (Bouches-du-Rhône) – Company 2: Saint André de la Roche (Alpes-Maritimes) – Company 3: Le Cannet des Maures (Var)
  • Headcount : Company 1: 20 employees – Company 2: 11 employees – Company 3: 0 employee.
  • 2021 revenues: Company 1: 2,3 M€ – Company 2: 1 M€ – Company 3: 1,5 M€
  • Deadline for submitting bids: 05/01/2023

All construction work

Main features:

  • Business: All construction work.
  • Location: Yutz (Moselle)
  • Headcount 26 employees
  • 2022 revenues: 4,1 M€
  • Deadline for submitting bids: 10/01/2023

Tendances & Créations

Main features:

  • Business: Trading, marketing, storage and delivery of parasols and garden cushions.
  • Location: Lons (Pyrénées-Atlantiques)
  • Company registration number: 802 121 004
  • Headcount 12 employees
  • 2022 revenues: 3,9 M€
  • Deadline for submitting bids: 19/12/2022

Collège International de Cannes

Main features:

  • Business: Campus of the Collège International de Cannes – Private higher education establishment of the French language FLE.
  • Location: Cannes (Alpes-Maritimes)
  • Headcount 41 employees
  • 2019 revenues: 3,7 M€
  • Deadline for submitting bids: 09/01/2023

Design, manufacture and marketing of time bases

Main features:

  • Business: Design, manufacture and marketing of high-performance, secure and resilient time bases and time servers. Development of a new secure and sovereign international time signal to overcome GPS vulnerabilities (by its French subsidiary).
  • Location: Grenoble (Isère)
  • Headcount 48 employees
  • 2022 revenues: 3,2 M€ – 2019 revenues: 5,6 M€
  • Deadline for submitting bids: 31/01/2023
maintenance telima reprise

Wholesale of industrial maintenance products

Main features:

  • Business: Wholesale of industrial maintenance products.
  • Location: Seine-et-Marne
  • Headcount 14 employees
  • 2022 revenues: 2 M€
  • Deadline for submitting bids: 13/01/2023

Innes

Main features:

  • Business: Design office and manufacturing of electronic devices for Iot, audiovisual and digital signage.
  • Location: Ille-et-Vilaine
  • Company registration number: 482 009 560
  • Headcount 21 employees
  • 2021 revenues: 1,7 M€
  • Deadline for submitting bids: 27/02/2023