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    Acquiring a mid-cap or industrial group

    Acquiring a mid-cap is a balance-sheet operation: multi-site perimeter, subsidiaries, structured financing and heavy employment commitments.

    Headcount

    250 salariés et plus

    Turnover

    > 50 M€

    Purchase price

    > 15 M€

    The market for this segment

    Distressed mid-cap files are handled by specialised commercial courts and often monitored by the French restructuring committee. Buyers are industrial groups, turnaround funds or consortia.

    Advantages of this size

    National or international market positions
    Substantial industrial and real-estate assets
    Option to divest non-core subsidiaries after closing
    Possible public support on sensitive employment cases

    Points to check

    • —Employment liabilities and possible redundancy plan
    • —Merger clearance if thresholds are met
    • —Classified industrial sites and environmental remediation
    • —Day-one working capital funding

    Financing the acquisition

    Structured finance: buyer equity, syndicated bank debt, unitranche, turnaround fund investment and occasionally public intervention.

    Frequently asked questions

    Who buys distressed mid-caps?

    Mainly industrial groups in the same sector, specialised turnaround funds and buyer consortia, sometimes including the company's own executives.

    Can the court reject a higher offer?

    Yes. The court selects the offer that best preserves jobs and the sustainability of the business, even if another offer is higher.

    Is merger clearance required?

    Yes if turnover thresholds are met. The French Competition Authority may review the deal, with a fast-track option in insolvency.

    Live opportunities

    Browse all our available listings

    Businesses in judicial liquidation, companies under collective, safeguard or recovery proceedings, and offices for sale or rent across France.