News
26.02.2024Arnaud Pédron, Numa Rengot

Distressed acquisition opportunities – February 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).

L’Eau Vive

Main features:

  • Business:
    SAS Eau Vive: holding company and management company, integrating the group’s support functions
    SARL Bio Club: franchisor of the Eau Vive brand
    SARL FEV: bakery, production of fresh bread and pastries
    SNC L’Eau Vive: 16 shops selling fresh and dried organic produce
    SAS Agua Viva: 1 shop selling fresh and dried organic produce
    SARL Perspective Bio: 2 shops selling fresh and dried organic produce
    SAS Vitalvie: 1 shop selling fresh and dried organic produce
    SAS Viva la Vida: 1 shop selling fresh and dried organic produce
  • Location: SAS Agua Viva : Courbevoie (Hauts-de-Seine), SARL Perspective Bio : Terville (Meurthe-et-Moselle) and Bonneuil-sur-Marne (Seine-et-Marne), SAS Vitalvie : Clermont-Ferrand (Puy-de-Dôme), SAS Viva la Vida : Aubière (Puy-de-Dôme)
  • Company registration number: SAS Agua Viva : 519 780 589 – SARL Perspective Bio : 803 782 267 – SAS Vitalvie : ‌508 029 501 – SAS Viva la Vida : 824 268 551 – Bio Club : 452 135 544 – Eau Vive : 348 706 714
  • 2023 revenues: 46,2 M€ – 2022 revenues: 62,4 M€
  • Headcount 236 employees
  • Deadline for submitting bids: 22/03/2024

Alexandre Vauthier

Main features:

  • Business: French Haute Couture house. Design and marketing of luxury ready-to-wear garments
  • Location: Paris (Ile-de-France)
  • Headcount 36 employees
  • 2023 revenues: 12,7 M€
  • Deadline for submitting bids: 08/03/2024

MMO

Main features:

  • Business: Design, industrial manufacture and marketing or rental of products for the medical sector
  • Location: Vitré (Ille-et-Vilaine)
  • Company registration number: 849 577 622
  • 2023 revenues: 7,2 M€
  • Headcount 57 employees
  • Deadline for submitting bids: 08/03/2024

SECPIT

Main features:

  • Business: A company specialising in plumbing, heating and ventilation for social landlords, public bodies, property developers, property managers and private individuals
  • Location: Gennevilliers (Hauts-de-Seine)
  • Company registration number: 622 004 513
  • 2022 revenues: 5,9 M€
  • Headcount 20 employees
  • Deadline for submitting bids: 15/03/2024

Agricultural inputs

Main features:

  • Business: Design, manufacture and sale of high added-value agricultural inputs: soil revitalisation products and biostimulants for agriculture
  • Location: Brittany
  • 2023 revenues: 5,7 M€
  • Deadline for submitting bids: 28/02/2024

Gecco

Main features:

  • Business: Collection and recovery of used edible oils and biowaste / production of biofuel under patent
  • Location: Avelin (Hauts-de-France)
  • Company registration number: 494 492 226
  • 2022 revenues: 4,2 M€
  • Headcount 23 employees
  • Deadline for submitting bids: 10/03/2024

Security

Main features:

  • Business: Personal and property security, surveillance / Events (hostesses)
  • Location: PACA
  • 2022 revenues: 3,3 M€ – 2021 revenues: 2,4 M€
  • Headcount 350 employees
  • Deadline for submitting bids: 08/03/2024
service à la personne

Home help

Main features:

  • Business: Private home help and support (SAAD)
  • Location: Vallée du Rhône
  • 2023 revenues: 3 M€
  • Headcount 184 employees
  • Deadline for submitting bids: 04/03/2024
fenetre reprise logis service

Supply and installation of joinery

Main features:

  • Business: A company supplying and installing exterior joinery in wood, aluminium and PVC on behalf of property developers in the Rhône-Alpes region
  • Location: Isère
  • 2023 revenues: 2,45 M€ – 2022 revenues: 1,4 M€
  • Headcount 12 employees
  • Deadline for submitting bids: 04/03/2024
service à la personne

Home help

Main features:

  • Business: Private home help and support (SAAD)
  • Location: Provence
  • 2023 revenues: 2,4 M€
  • Headcount 135 employees
  • Deadline for submitting bids: 04/03/2024

Black Up Invest – Black Up

Main features:

  • Business: B2B and B2C marketing of cosmetic products for people of colour
  • Location: US subsidiary
  • Company registration number: Black Up : 423 015 494 – Black Up Invest : 823 592 761
  • 2022 revenues: 2,3 M€ – 2021 revenues: 2,7 M€ – 2020 revenues: 2,7 M€
  • Headcount 14 employees
  • Deadline for submitting bids: 04/03/2024

Restaurant – Bar – Brasserie

Principales caractéristiques :

  • Business: Restaurant, bar, brasserie
  • Location: Gironde
  • 2023 revenues: 2,3 M€ – 2022 revenues: 3,8 M€
  • Headcount 23 employees
  • Deadline for submitting bids: 06/03/2024

ACJ TP

Main features:

  • Business: On-site crushing and recycling platform (IPCE), recovery, treatment, crushing and grinding of concrete waste and inert materials
  • Location: Héric (Loire-Atlantique)
  • Company registration number: 442 117 974
  • 2022 revenues: 2,2 M€
  • Headcount 6 employees
  • Deadline for submitting bids: 15/03/2024
service à la personne

Home help

Main features:

  • Business: Social work without accommodation, Children’s Services and Home Help Services
  • Location: Pyrénées-Atlantiques
  • 2023 revenues: 1,9 M€ – 2022 revenues: 2 M€
  • Headcount 74 employees
  • Deadline for submitting bids: 07/03/2024