News
22.12.2023Arnaud Pédron, Numa Rengot

Distressed acquisition opportunities – December 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).

Habitat

Main features:

  • Business: Habitat France: Furniture retail (French subsidiary)
    Habitat Design International: Furniture retail (group central purchasing office).
  • Company registration number: Habitat France : 389 389 545- Habitat Design International : 534 192 216
  • Headcount: Habitat France : 314 employees – Habitat Design International : 68 employees
  • 2022 revenues: Habitat France : 65,1 M€ – Habitat Design International : 51,9 M€
  • Deadline for submitting bids: 08/01/2024

Cosem

Main features:

  • Business: Association operating multidisciplinary health centres.
  • Location: 8 health centres in Paris and 8 health centres outside Paris.
  • Headcount 1 203 employees
  • 2022 revenues: 91 M€ – 2021 revenues: 93 M€
  • Deadline for submitting bids: 11/01/2024

Sitek Insulation

Principales caractéristiques :

  • Business: Manufacture and sale of building, insulation, filtration and absorption materials (Fesco range, Bariboard range, HTI range).
  • Location: Wissembourg (Bas-Rhin)
  • Company registration number: 808 825 467
  • 2023 revenues: 22,3 M€
  • Headcount 122 employees
  • Deadline for submitting bids: 18/01/2024

Public works, earthworks, roads

Main features:

  • Business: Public works, earthworks, roads.
  • Location: Greater Lille and the Audomar region
  • 2022 revenues: 16,5 M€ – 2021 revenues: 16,9 M€
  • Headcount 64 employees
  • Deadline for submitting bids: 02/02/2024

Le Quotidien

Main features:

  • Business: Reunion Island’s leading daily press, with an average daily circulation of 15,600 copies.
  • Location: La Réunion
  • Company registration number: 393 614 029
  • 2022 revenues: 10,6 M€ – 2021 revenues: 10,5 M€ – 2020 revenues: 10,8 M€
  • Headcount 53 employees
  • Deadline for submitting bids: 29/02/2024

Trio Fruits – Sign: E. Leclerc

Main features:

  • Business: Hypermarket.
  • Location: Chelles (Seine-et-Marne)
  • Company registration number: 380 093 997
  • Headcount 47 employees
  • 2022 revenues: 10,4 M€ – 2021 revenues: 10,4 M€ – 2020 revenues: 15,5 M€
  • Deadline for submitting bids: 08/01/2024

Dimetel

Main features:

  • Business: Buying, selling and repairing household appliances, wholesale (business-to-business).
  • Location: Brive-la-Gaillarde (Corrèze)
  • Company registration number: 341 831 923
  • Headcount 8 employees
  • 2023 revenues: 8,8 M€ – 2022 revenues: 7,4 M€
  • Deadline for submitting bids: 10/01/2024

Network of care centres

Main features:

  • Business: Network of care centres.
  • Location: Locations in 11 regions
  • 2023 revenues: 8,6 M€ – 2022 revenues: 4,6 M€ – 2021 revenues: 1,1 M€
  • Headcount 158 employees
  • Deadline for submitting bids: 08/01/2024

Etablissements Martin

Main features:

  • Business: Manufacture of natural, recyclable wooden packaging.
  • Location: Augé (Deux-Sèvres)
  • Company registration number: 312 771 520
  • 2023 revenues: 7,8 M€ – 2022 revenues: 7,8 M€
  • Headcount 58 employees
  • Deadline for submitting bids: 31/01/2024

Normandy Express

Main features:

  • Business: Road haulage of goods, specialising in palletised distribution in Normandy and industrial emergency services, freight forwarding and chartering.
  • Location: Bayeux – Sandouville (Seine-Maritime)
  • Company registration number: 411 123 029
  • 2022/2023 revenues (project) : 7,1 M€
  • Headcount 68 employees
  • Deadline for submitting bids: 22/01/2024

Isolation 2000

Main features:

  • Business: Insulation work, partitioning, plastering, interior joinery.
  • Location: Bailly-Romainvilliers (Seine-et-Marne)
  • Company registration number: 332 866 284
  • 2022 revenues: 5 M€
  • Headcount 44 employees
  • Deadline for submitting bids: 05/01/2024

Workspace design and equipment companies

Main features:

  • Business: Workspace design and equipment companies.
  • Location: Ile-de-France
  • 2022 revenues: Company 1 : 3,8 M€ – Company 2 : 542 K€
  • Headcount 6 employees per company
  • Deadline for submitting bids: 12/01/2024

Machining – Welding – Design office

Main features:

  • Business: Company 1: MIG, TIG, spot welding, Bending / Rolling (6 mm), 10 mm shear / 30 mm plasma cutting
    Company 2: Machining all types of materials on machining centres
    (Sawing/Milling/Boring)
    Company 3: Design office, Punching & Bending (conventional and digital), Bending, Welding (TIG, MIG, MAG, spot welding)
    Company 4: TIG welding, Folding, Vacuum testing, Cutting (10 mm shears)
    Company 5: TIG / MIG / Spot welding (AIR0191 ED.2 certified welders), Folding (conventional or digital) / Punching / Bending
    Punching / Bending
  • Revenues: Company 1: 885 K€ – Company 2: CA 349 K€ – Company 3: 1,2 M € – Company 4: 229 K€ – Company 5: 684 K€
  • Headcount: Company 1 : 4 employees – Company 2 : 3 employees – Company 3 : 10 employees – Company 4 : 2 employees – Company 5 : 7 employees
  • Deadline for submitting bids: 05/01/2024

NMA Sud Ouest

Main features:

  • Business: Railway signalling and maintenance work.
  • Location: Montauban (Tarn-et-Garonne)
  • Company registration number: 504 891 904
  • 2022/2023 revenues (project) : 3,3 M€
  • Headcount 9 employees
  • Deadline for submitting bids: 05/01/2024

Sale of high-tech computer and electronic products

Main features:

  • Business: Sale of high-tech computer and electronic products under a range of brand names, including photo, video, digital picture frame, gaming products, headphones and speakers.
  • Location: Bois d’Arcy (Yvelines)
  • 2022 revenues: 2,5 M€ – 2021 revenues: 5 M€ – 2020 revenues: 8,1 M€
  • Headcount 10 employees
  • Deadline for submitting bids: 19/01/2024