Buying or selling an SME with a fund in Belgium
Buying an SME with a fund: acquisition holding, bank debt, vendor loan, MBO, MBI, OBO, the role of WE Cession & Acquisition (ex-Sowaccess), legal limits.
Category
Buyouts & succession
Management buy-in (MBI): buying an SME as an outsider
MBI: an outside executive buys an SME with a fund and a bank. How it differs from an MBO, transition risks, and the file that convinces a fund in Belgium.
Management buy-out (MBO): buying the firm you run
MBO: managers buy their SME through a holding, with debt, a fund and a vendor loan. Worked structure, stake kept, personal risks, Belgian legal limits.
Owner buy-out (OBO): cash out without selling your firm
Owner buy-out: sell part of your shares to your own holding with a fund. Worked structure, governance, and the 33% internal capital gains tax since 2026.
SME succession: evergreen fund or closed-end fund?
Retiring in four years: should an evergreen or closed-end fund back your SME succession? The fund's timeline, drag-along and what happens to your shares.