News
22.05.2024Arnaud Pédron, Numa Rengot

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).

Metex Noovistago

Main features:

  • Business: Company engaged in the production of amino acids by fermentation, mainly for livestock
  • Location: Amiens (Somme)
  • Company registration number: 302 607 676
  • 2023 revenues (12-month landing): 127 M€ – 2022 revenues: 221 M€
  • Headcount 285 employees
  • Deadline for submitting bids: 27/05/2024

Smallable

Main features:

  • Business: Multi-brand e-commerce site (fashion, furniture, home decoration, family toys). Top-of-the-range positioning
  • Location: Paris
  • Company registration number: 503 044 323
  • 2023 revenues: 75 M€ (of which 68% internationally and 30% for major exports (US/APAC/Middle East))
  • Headcount 94 employees
  • Deadline for submitting bids: 17/06/2024

Laboratoires Prodene Klint – Institut de recherche microbiologique – GJF Holding

Main features:

  • Business: Group of 3 French companies, subsidiaries of an American company, producing and distributing hygiene and skin care solutions
  • Location: Croissy-Beaubourg (Seine-et-Marne)
  • Company registration number: Laboratoires Prodene Klint : 738 200 716 – Institut de recherche microbiologique : 351 422 183 – GJF Holding : 799 744 297
  • 2022 revenues (consolidated): 55,3 M€ – 2021 revenues (consolidated): 60,7 M€ – 2020 revenues (consolidated): 119,2 M€
  • Headcount 154 employees
  • Deadline for submitting bids: 03/06/2024

Ecodéchets

Main features:

  • Business: Household waste collection for local authorities (door-to-door collection and voluntary drop-off points)
  • Location: East of France, from Lille to Avignon
  • Company registration number: 802 947 432
  • 2023 revenues: 38 M€
  • Headcount 459 employees
  • Deadline for submitting bids: 28/06/2024

Ollygan

Main features:

  • Business: Retail sale of men’s clothing in specialised shops (61 shops)
  • Location: Aix-en-Provence (Bouches-du-Rhône)
  • Company registration number: 321 591 067
  • 2023 revenues: 22 M€
  • Headcount 181 employees
  • Deadline for submitting bids: 12/06/2024

We Audition

Main features:

  • Business: Sale of hearing aids, mainly by Signia and Starkey
  • Location: 75 centres, 60 of which are active throughout France
  • Company registration number: 382 844 470
  • 2023 revenues (provisional): 10,9 M€
  • Headcount 108 employees
  • Deadline for submitting bids: 07/06/2024

Paul Ka Paris

Main features:

  • Business: Design and distribution of top-of-the-range women’s ready-to-wear under the ‘Paul Ka’ brand, created in Paris in 1988.)
  • Location: Paris, Lyon, Strasbourg, Toulouse and Luxembourg
  • Company registration number: 302 077 987
  • 2023 revenues (project): 8,4 M€ – 2022 revenues (22 months): 21,5 M€
  • Headcount 32 employees
  • Deadline for submitting bids: 07/06/2024

Dynami Aviation

Main features:

  • Business: Portage and air charter
  • Location: Marseille (Bouches-du-Rhône)
  • Company registration number: 479 382 541
  • 2023 revenues (estimated): 8 M€
  • Headcount 4 employees
  • Deadline for submitting bids: 07/06/2024

Cleaning company

Main features:

  • Business: Cleaning company / Industrial cleaning
  • 2023 revenues: 6 M€ – 2022 revenues: 7 M€
  • Headcount 295 employees
  • Deadline for submitting bids: 17/06/2024

Guarding

Main features:

  • Business: Structure 1: Human or electronic security and surveillance of movable or immovable property. Structure 2: Support holding company
  • Location: Ile de France, Bordeaux, Nantes, Metz, Douai and Lyon
  • 2022 revenues: Structure 1 : 6,3 M€ – Structure 2 : 673 K€ – 2021 revenues: Structure 1 : 4,4 M€ – 2020 revenues: Structure 1 : 3,5 M€
  • Headcount 160 employees (Structure 1) and 4 employees (Structure 2)
  • Deadline for submitting bids: 07/06/2024

Consulting firm specialising in risk management

Main features:

  • Business: Consulting firm specialising in risk management, compliance and asset/liability management, with recognised expertise in the banking and financial sectors
  • Location: Suresnes (Hauts-de-Seine)
  • 2022 revenues: 5,9 M€ – 2021 revenues: 5,6 M€ – 2020 revenues: 6,4 M€
  • Headcount 9 employees
  • Deadline for submitting bids: 05/06/2024

Fastnet

Main features:

  • Business: Installation of networks and telecoms systems
  • Location: Pays de Loire
  • Company registration number: 443 728 563
  • 2024 revenues: 4,2 M€ – 2023 revenues: 4,8 M€
  • Headcount 31 employees
  • Deadline for submitting bids: 14/06/2024

Access Bâtiment

Main features:

  • Business: Maintenance and repair of residential property (social landlords) / Renovation and fitting-out work on finishing work
  • Location: Var and Bouches du Rhône
  • Company registration number: 788 588 267
  • 2023 revenues: 4,3 M€
  • Headcount 43 employees
  • Deadline for submitting bids: 10/06/2024

Prâna Recherche et Développement

Main features:

  • Business: Design, manufacture and sale of power amplifiers and microwave systems
  • Location: Brive-la-Gaillarde (Corrèze)
  • Company registration number: 304 826 597
  • 2023 revenues: 3,9 M€ – 2022 revenues: 3 M€
  • Headcount 25 employees
  • Deadline for submitting bids: 11/06/2024

Delegation and placement of temporary staff

Main features:

  • Business: Company specialising in the delegation and placement of temporary staff in the hotel and catering sector
  • 2023 revenues: 3,4 M€
  • Headcount 3 employees
  • Deadline for submitting bids: 28/05/2024

Billon

Main features:

  • Business: Design and production of textile solutions (knitwear) with 2 types of services:
    – Knitting (fashion and technical textiles)
    – Dyeing
  • Location: Dagneux et Saint-Vulbas (Ain)
  • Company registration number: 491 903 043
  • 2023 revenues: 3,3 M€
  • Headcount 31 employees
  • Deadline for submitting bids: 30/05/2024

VME

Main features:

  • Business: Renovation of all building trades
  • Location: Annemasse (Haute-Savoie)
  • Company registration number: 788 735 181
  • 2022 revenues: 2,5 M€ – 2021 revenues: 2,4 M€ – 2020 revenues: 2,4 M€
  • Headcount 27 employees
  • Deadline for submitting bids: 04/06/2024

Maison Lamorlette

Main features:

  • Business: A company that designs, processes, manufactures and distributes (wholesale/half-wholesale and retail) butchery and charcuterie products
  • Location: Embrun (Alpes de Haute Provence)
  • Company registration number: 430 186 460
  • 2023 revenues: 2,2 M€
  • Headcount 11 employees
  • Deadline for submitting bids: 31/05/2024

Alxia

Main features:

  • Business: Continuing education, apprenticeships and consultancy
  • Location Carros le Broc (Alpes Maritimes)
  • Company registration number: 488 520 693
  • 2023 revenues: 2 M€ – 2022 revenues: 2,3 M€ – 2021 revenues: 2,4 M€
  • Headcount 30 employees
  • Deadline for submitting bids: 31/05/2024

Z Holding

Main features:

  • Business: Design and sale of footwear
  • Location: Paris and Marseille (Bouches du Rhône)
  • 2023 revenues (project) : 1,8 M€ – 2022 revenues: 2,8 M€ – 2021 revenues: 2,1 M€
  • Headcount 6 employees
  • Deadline for submitting bids: 03/06/2024

Caoutchouc Manufacturé de l’Oise (CMO)

Main features:

  • Business: Manufacture of rubber parts for the automotive and industrial markets in France and for export
  • Location: Villers Saint Paul (Oise)
  • Company registration number: 311 110 274
  • 2022 revenues: 1,7 M€ – 2021 revenues: 2,2 M€
  • Headcount 26 employees
  • Deadline for submitting bids: 17/06/2024
boulangerie reprise

2 patisseries and bakeries

Main features:

  • Business: Company operating 2 patisseries and bakeries in the Paris region
  • Location: Meudon and Issy-les-Moulineaux (Hauts-de-Seine)
  • 2023 revenues: 1,3 M€ – 2022 revenues: 1,4 M €
  • Headcount 14 employees
  • Deadline for submitting bids: 07/06/2024

Bricomarché

Main features:

  • Business: Retail trade specialising in household equipment such as DIY, decorating, gardening and pet supplies
  • Location: Montville (Seine Maritime)
  • 2023 revenues: 1,3 M€
  • Headcount 7 employees
  • Deadline for submitting bids: 31/05/2024

Parisian restaurant

Main features:

  • Business: Iconic Parisian restaurant opened in 1920 – Italian gourmet cuisine
  • Location: Paris
  • 2023 revenues: 1 M€
  • Headcount 11 employees
  • Deadline for submitting bids: 07/06/2024
boulangerie reprise

Bakery – Patisserie

Main features:

  • Business: Bakery – Patisserie
  • Location: Paris
  • 2023 revenues: 1 M€
  • Headcount 12 employees
  • Deadline for submitting bids: 10/06/2024