23.03.2023Arnaud Pédron, Numa Rengot

Distressed acquisition opportunities – March 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).

Sale and distribution of games and toys

Main features:

  • Business: Company operating a sales and distribution activity of games and toys for individuals. It has 257 sales outlets, including 97 integrated shops, 30 franchised shops in France and 17 abroad.
  • Location: France and abroad
  • Headcount 950 employees
  • 2021 revenues: 163,9 M€
  • Deadline for submitting bids: 14/04/2023

Griffine Enduction

Main features:

  • Business: Design, production and marketing of coated textile coverings, mainly for the automotive sector (55%), collective furniture (33%), luxury leather goods, boating and health.
  • Location: Nucourt (Val d’Oise)
  • Company registration number: 403 134 885
  • Headcount 190 employees
  • 2022 revenues: 30,3 M€
  • Deadline for submitting bids: 13/04/2023


Main features:

  • Business: Carrying out maintenance and associated energy performance work, particularly in the fields of electricity, climate engineering, fire protection, external works and network activities.
  • Location: Boulogne-Billancourt (Hauts-de-Seine)
  • Company registration number: 880 032 453
  • Headcount 135 employees
  • 2021 revenues: 16,6 M€
  • Deadline for submitting bids: 28/04/2023

Retail trade, textiles, clothing, footwear, leather goods, travel goods

Main features:

  • Business: Retail trade, textiles, clothing, footwear, leather goods, travel goods.
  • Location: 26 boutiques et 6 corners
  • Headcount 113 employees
  • 2022 revenues: between 3 and15 M€
  • Deadline for submitting bids: 31/03/2023

Industrial patisserie

Main features:

  • Business: Industrial patisserie with a strong regional reputation. The company manufactures (factory) and distributes via 4 shops.
  • Location: Bourgogne Franche-Comté with an industrial site in Côte d’Or
  • Headcount 46 employees
  • 2022 revenues: 7,4 M€ – 2023 revenues (estimated) : 8 M€
  • Deadline for submitting bids: 15/05/2023

Associations SPASAD d’Aire-sur-la-Lys and Union A DOM

Main features:

  • Business: Home help and care service.
  • Location: Aire-sur-la-Lys (Pas-de-Calais)
  • Headcount 184 employees
  • 2022 revenues: 5,6 M€
  • Deadline for submitting bids: 28/04/2023

Indoor and outdoor works

Main features:

  • Business: Interior and exterior work, painting and decorating, laying floor coverings, exterior insulation, waterproofing.
  • Location: Brest et Quimper (Finistère)
  • Headcount 43 employees
  • 2022 revenues: 5,4 M€
  • Deadline for submitting bids: 29/03/2023

Beauty salons

Main features:

  • Business: Beauty salons offering permanent make-up services, training in these techniques and sale of equipment to professionals. Holding company with 100% ownership of five operating companies.
  • Location: Paris, Aix-en-Provence and Lyon
  • Headcount 32 employees
  • 2022 revenues (consolidated) : 4,9 M€
  • Deadline for submitting bids: 21/04/2023


Main features:

  • Business: Manufacture of plastic plates, sheets, tubes and profiles.
  • Location: Béthune (Pas-de-Calais)
  • Company registration number: 323 781 575
  • Headcount 35 employees
  • 2022 revenues (estimated) : 4 M€
  • Deadline for submitting bids: 17/04/2023

Repair of domestic appliances

Main features:

  • Business: Company specialising in the sale of spare parts to professional appliance repairers.
  • Location: Ivry-sur-Seine (Val-de-Marne)
  • Headcount 10 employees
  • 2021 revenues: 3,6 M€
  • Deadline for submitting bids: 27/03/2023

Jay & Joy

Main features:

  • Business: French company specialising in plant-based products which manufactures and sells alternatives to cheese based on oilseeds, French and European organic distribution network. Shop in Paris in the 11th arrondissement – Manufacturing plant and administrative offices in Oise
  • Location: Paris (Ile-de-France)
  • Company registration number: 809 890 510
  • Headcount 42 employees
  • 2021 revenues: 2,8 M€
  • Deadline for submitting bids: 14/04/2023

Private higher education institution for IT

Main features:

  • Business: Private higher education institution for IT.
  • Headcount 38 employees
  • 2022 revenues: 2,7 M€
  • Deadline for submitting bids: 21/04/2023

Merci Jack

Main features:

  • Business: Startup that has developed and operates a web and mobile platform that connects independent maintenance craftsmen with corporate clients, adjustment of the economic model effective since November 2022, based on a shift from the contractual framework of subcontracting to that of business contribution.
  • Location: Montreuil (Seine-Saint-Denis)
  • Company registration number: 822 163 663
  • Headcount 6 employees
  • 2022 revenues: 2,7 M€
  • Deadline for submitting bids: 03/04/2023

Alma Bio Therapeutics

Main features:

  • Business: Development of a new type of therapeutic treatment that harnesses the power of the patient’s own immune system to fight their autoimmune disease. The treatment acts on the causes of the disease, not the symptoms. The commercialisation phase has not yet begun.
  • Location: Lyon (Rhône)
  • Company registration number: 798 709 309
  • Deadline for submitting bids: 31/03/2023
service à la personne


Main features:

  • Business: Personal services: domestic help, gardening, assistance to dependent persons and home delivery of meals.
  • Location: Puy-de-Dôme
  • Headcount 84 employees
  • 2021 revenues: 2,3 M€
  • Deadline for submitting bids: 14/04/2023

Dactem développement

Main features:

  • Business: Engineering, technical studies, manufacturing and sales of mechatronic and computer equipment mainly for the space industry. The company is one of the few global players in the development of measurement benches for plasma thrusters.
  • Location: Alès (Gard)
  • Company registration number: 538 225 996
  • Headcount 16 employees
  • 2022 revenues: 2 M€
  • Deadline for submitting bids: 14/04/2023
fenetre reprise logis service

Carpentry – Roofing

Main features:

  • Business: Manufacture and installation of wood joinery – carpentry, roofing, zinc work, renovation masonry.
  • Location: Rhône
  • Headcount 14 employees
  • 2022 revenues: 2 M€
  • Deadline for submitting bids: 07/04/2023