The sale of a business is a decisive step in a leader’s journey. It is not just a simple transaction : it is the transfer of values, history, and know-how. Choosing the right buyer is therefore strategic, as it impacts the sustainability of the activity, the protection of jobs, and the value of the seller’s assets.
Depending on your financial, human, or heritage goals, several buyer profiles can be considered : family, employees, external investors, foreign groups, or financial partners. Each option has its own advantages and constraints.
1. Pass on to a family member
Family succession is often motivated by the desire to keep the company within the family circle. It ensures natural continuity and reassures stakeholders.
However, this option requires careful preparation to avoid tensions and ensure a smooth transition. Supporting the successor in their new responsibilities is essential to establish legitimacy with employees, clients, and suppliers.
From a tax perspective, several mechanisms can reduce the cost of transfer :
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Donation or inheritance adapted to the estate situation,
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Dutreil Pact, offering a significant reduction in transfer duties,
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Dismemberment strategies to optimize taxation.
2. Transfer to an employee (Management Buy-Out – MBO)
A management buyout (MBO) allows the transfer of the company to employees who already know its inner workings.
This option often guarantees immediate operational continuity and reassures business partners.
However, the financial capacity of internal buyers must be assessed. An MBO frequently involves a mixed financing structure : personal contributions, bank loans, private equity, or support schemes for business transfers.
The main advantage lies in preserving the company’s DNA, while managerial transition is eased thanks to their field knowledge.
3. Sell to an external third party
The sale to an external buyer (private investor, industrial group) is often the option offering the highest valuation. It broadens the possibilities but requires a structured process :
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Strategic review and valuation,
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Preparation of a professional information memorandum,
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Targeted search for buyers,
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Negotiations and due diligence phase,
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Signing of the agreement.
Support from a specialized M&A advisory firm maximizes your chances of finding serious buyers and optimizing the terms of the sale.
4. Selling to yourself (Owner Buy-Out – OBO)
The Owner Buy-Out (OBO) allows the owner to transfer the company to a holding company they control.
This operation makes it possible to :
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Convert part of the business assets into personal assets,
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Keep strategic control,
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Optimize taxation through financial leverage.
An OBO often involves partner investors (private equity funds, family offices) and represents a hybrid solution between partial sale and estate restructuring.
5. Transfer to a foreign company
In an international context, selling to a foreign group can open new opportunities :
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Access to foreign markets,
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Technological or industrial synergies,
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Increased production capacity.
However, this option requires mastering intercultural and legal issues. International groups conduct particularly rigorous due diligence and demand flawless documentation. Support from lawyers specialized in international business law is highly recommended.
6. Opt for a partial transfer or an opening of the capital
It is not always necessary to sell 100% of the shares. A partial sale or equity opening allows you to :
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Secure part of the value created,
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Benefit from a strategic partner to accelerate growth,
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Gradually prepare for a full exit.
Growth capital funds particularly value this type of transaction, especially in projects involving external growth or international expansion.
Choosing the right buyer : a strategic decision
The choice of a buyer must align with your personal and professional goals :
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Do you want to maximize financial valuation ?
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Prioritize job sustainability and the company’s DNA ?
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Plan for a gradual or immediate exit ?
In all cases, it is essential to be supported by specialized advisors (M&A firms, lawyers, accountants) to evaluate scenarios, structure the transaction, and negotiate under the best conditions.
Choosing the right buyer means giving your company the best chance of sustainability, preserving jobs, and enhancing the value of what has been built.
THE EVALIANCE CAPITAL APPROACH
OUR SUPPORT
At Evaliance Capital, we support you confidentially and with a tailored approach at every stage of your sale project. Thanks to our proven methodology and qualified network, we identify the best transfer opportunities to ensure the success and sustainability of your company.
