The acquisition of the company is a real opportunity for future entrepreneurs. A company can be acquired by creating a holding company along with securities or a branch of the activity. However, the project is complex as it involves major steps and often substantial financial commitment. But, as Phoenix rises from its ashes, thousands of businesses are able to start again thanks to passionate individuals who have no shortage of ideas to grow them. Back to the rebirth of some SMEs.
60,000 companies are put up for sale each year and 185,000 are expected to be sold, i.e. 750,000 jobs saved, according to a report by Fanny Dombre-Cost titled “Promoting business transfer in France” published in 2016 . Many of these companies just disappear. Due to lack of buyers. Facing the threat of judicial liquidation or cessation of activity, some are defending this entrepreneurial legacy.
Between 2015 and 2025, it is estimated that transfers should be related to approximately 630,000 companies. However, more than half of the companies affected by transfers close due to lack of buyers… In fact, the key to transfers is anticipation (up to 5 years ago!) and the search for suitable buyer profiles. But the path to follow to move your business successfully doesn’t end there.
Norman Biscuit Factory Janet
The Janet Biscuit Factory, specializing in Madeleine, was built in Caen in 1850 by Pierre Molire. For several decades, it was sold and bought by many celebrities. It was formerly called Biscuiterie Normande, after the purchase of shares by Lucien Janet, taking the name Biscuiterie Jeanette in 1927. Between 1951 and 1985, the company enjoyed good years, with the arrival of the Winchan brothers, Raymond and Jean. The company’s growth is consequential: it grew from fifteen employees in 1950 to 240 in 1985 and produces over seven thousand tons of cakes per year. But the difficult years began in 1986. Facing European competition, the Gringoire-Brossard firm, the new owner, decided to lay off half the workforce in 1992. Filing for bankruptcy several times between 1997 and 2011, it was taken over by the LCG. (Falais Investment Fund, editor’s note). In December 2013, the Commercial Court of Cain decided to place the biscuit factory in mandatory liquidation. More than twenty workers oppose it and occupy their factory for more than eleven months. Faced with the buzz created by this possession of the premises, four buyers submitted takeover offers. Georges Viana, the businessman’s project is upheld in November 2014: it is through a crowdfunding operation, convincing the Franco-Portuguese commercial court with 100,882 euros. In May 2015, production resumed at a new factory in Demouville, thanks to a second crowdfunding operation. While over 330,000 euros have been raised, the company receives another funding round of 6.5 million euros. This amount enabled Georges Viana to build a second establishment in Columbus in 2017. Today, the company has thirty-two employees and employs thirty local ESAT (Works, Assistance Installation and Service Via Editor’s Note) workers.
Atemco, designer and manufacturer of modular buildings
Founded in 1831 in the Musidan, Atemco was one of the first in France at the time to specialize in metal and modular construction (assembly of site cabins, editor’s note). In order to renew itself, the company decided to develop modular architectures for housing or offices. Products that are more expensive to manufacture and more difficult to customize. With the 2008 economic crisis, the construction site slums sector collapsed and the architecture sector did not produce tangible results. Placed in receivership by the Commercial Court of Périgaux in 2011, Atemco decided to cut twenty-three of the sixty-five positions. The CEO of OBM Construction (a general company for the manufacture of industrial lumber, editor’s note), Francis Leure, decided to buy the company that same year. He modernized it by refurbishing production lines and equipment, replacing obsolete machines. A strategy that has worked since raising turnover to 8.5 million euros in 2017.
La Tremevoise, an industrial crperie company
Gildas Salvar created Tremaven in 1976, a small industrial crperie company named La Tremavenois, in his garage. In 1986, along with his wife, the entrepreneur decided to buy land to develop his structure. As development progressed, the firm’s surface area increased to 1,800 square meters. In 2006, the Salwar couple sold their business to Jean-Luc Pellant to retire. At that time, the establishment still had 18 employees. The company eventually found itself in receivership in February 2011 and a debt clearance plan was implemented. The liquidation was decided in December 2017, while nine people on permanent contracts and some temporary workers were still employed there. The reason is the increase in the price of butter and eggs. The staff decide to call back Gildas Salwar to help them out and take over the reins of the Creperie. The 64-year-old retiree receives funding from his field, from the community community of Quimperley Country, and from Initiative Cornouille, a collaborative network of funding for business creators. And since March 2018, he’s back on the road delivering pancakes to these 150 customers. With the aim of restarting your business.
Buyers facing companies in trouble or on the verge of bankruptcy sometimes have gold on their hands, but that’s not all. Future leaders prepare for the challenge by analyzing their motivations, their objectives as well as their strengths and weaknesses. With a market that is difficult to reach, they must build personal and professional networks and sometimes even funding to achieve their goals. Transition period is essential for handling a business. And to get off to a good start, managers must reassure employees, meet with customers, and make delicate financial and commercial decisions.