{"id":7283,"date":"2021-02-04T17:24:59","date_gmt":"2021-02-04T16:24:59","guid":{"rendered":"https:\/\/www.bpe.de\/types-of-investment\/"},"modified":"2022-03-15T15:32:49","modified_gmt":"2022-03-15T14:32:49","slug":"types-of-investment","status":"publish","type":"page","link":"https:\/\/www.bpe.de\/en\/types-of-investment\/","title":{"rendered":"Types of investment"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"7283\" class=\"elementor elementor-7283 elementor-2235\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-33010912 elementor-section-full_width elementor-section-stretched elementor-section-height-default elementor-section-height-default\" data-id=\"33010912\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-32034796\" data-id=\"32034796\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6032aa1c elementor-widget elementor-widget-template\" data-id=\"6032aa1c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"7573\" class=\"elementor elementor-7573 elementor-1842 elementor-1842\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-2a3654c2 elementor-section-full_width elementor-section-stretched elementor-section-height-default elementor-section-height-default\" data-id=\"2a3654c2\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;video&quot;,&quot;background_video_link&quot;:&quot;https:\\\/\\\/www.bpe.de\\\/wp-content-329291\\\/uploads\\\/2021\\\/02\\\/bpe-header-greifvelox-03.mp4&quot;,&quot;background_play_on_mobile&quot;:&quot;yes&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-background-video-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<video class=\"elementor-background-video-hosted\" role=\"presentation\" autoplay muted playsinline loop><\/video>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3d9961e8\" data-id=\"3d9961e8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6ff92e02 elementor-widget elementor-widget-spacer\" data-id=\"6ff92e02\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-67559615 eael-tooltip-align-mobile-right eael-tooltip-align-tablet-right eael-tooltip-align-right animated-slow elementor-invisible elementor-widget elementor-widget-eael-tooltip\" data-id=\"67559615\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;pulse&quot;}\" data-widget_type=\"eael-tooltip.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t<div class=\"eael-tooltip\">\n\t\t\t\t\t<span class=\"eael-tooltip-content\" tabindex=\"0\" aria-describedby=\"tooltip-text-67559615\">\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-info-circle\"><\/i>\t\t\t<\/span>\n  \t\t\t<span id=\"tooltip-text-67559615\" class=\"eael-tooltip-text eael-tooltip-left\" role=\"tooltip\"><p style=\"text-align: left\">This video was made at GREIF VELOX in L\u00fcbeck, a BPE portfolio company acquired in an MBO in 2018.<\/p><\/span>\n  \t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-inner-section elementor-element elementor-element-4974f731 elementor-section-content-bottom elementor-reverse-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4974f731\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-f3b0ae3\" data-id=\"f3b0ae3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5c95bd00 elementor-widget elementor-widget-spacer\" data-id=\"5c95bd00\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-326465a4 elementor-widget elementor-widget-heading\" data-id=\"326465a4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Solving succession<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7173dacc elementor-widget elementor-widget-heading\" data-id=\"7173dacc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Types of investment<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-251ec991 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"251ec991\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-23e23e5a\" data-id=\"23e23e5a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f1514bb elementor-widget elementor-widget-spacer\" data-id=\"f1514bb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-03227a6 elementor-hidden-tablet elementor-hidden-phone elementor-widget elementor-widget-eael-adv-tabs\" data-id=\"03227a6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"eael-adv-tabs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div data-scroll-on-click=\"no\" data-scroll-speed=\"300\" id=\"eael-advance-tabs-03227a6\" class=\"eael-advance-tabs eael-tabs-horizontal eael-tab-auto-active \" data-tabid=\"03227a6\">\n            <div class=\"eael-tabs-nav \">\n                <ul class=\"\" role=\"tablist\">\n                                            <li id=\"management-buy-out-mbo\" class=\"inactive eael-tab-item-trigger eael-tab-nav-item\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"management-buy-out-mbo-tab\" aria-expanded=\"false\">\n                            \n                            \n                            \n                                                            <span class=\"eael-tab-title title-after-icon\" >Management Buy-out (MBO)<\/span>                                                    <\/li>\n                                            <li id=\"management-buy-in-mbi\" class=\"inactive eael-tab-item-trigger eael-tab-nav-item\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"management-buy-in-mbi-tab\" aria-expanded=\"false\">\n                            \n                            \n                            \n                                                            <span class=\"eael-tab-title title-after-icon\" >Management Buy-in (MBI)<\/span>                                                    <\/li>\n                                            <li id=\"owners-buy-out-obo\" class=\"inactive eael-tab-item-trigger eael-tab-nav-item\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"owners-buy-out-obo-tab\" aria-expanded=\"false\">\n                            \n                            \n                            \n                                                            <span class=\"eael-tab-title title-after-icon\" >Owners Buy-out (OBO)<\/span>                                                    <\/li>\n                                            <li id=\"buy-and-build-add-on\" 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);line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-text-editor.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-10210 .elementor-element.elementor-element-4aafaae1{font-size:var( --e-global-typography-16a6c15-font-size );line-height:var( --e-global-typography-16a6c15-line-height );}.elementor-10210 .elementor-element.elementor-element-31f7b19{columns:1;}.elementor-10210 .elementor-element.elementor-element-31f7b19 .elementor-drop-cap-letter{font-size:var( --e-global-typography-84d0d03-font-size );line-height:var( --e-global-typography-84d0d03-line-height );}.elementor-10210 .elementor-element.elementor-element-31f7b19 > .elementor-widget-container{padding:10px 10px 10px 10px;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"10210\" class=\"elementor elementor-10210 elementor-2249 elementor-2249\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-6665bb44 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6665bb44\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3091db1\" data-id=\"3091db1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4aafaae1 elementor-hidden-tablet elementor-hidden-phone elementor-widget elementor-widget-text-editor\" data-id=\"4aafaae1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Management Buy-out (MBO)<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-31f7b19 elementor-drop-cap-yes elementor-drop-cap-view-default elementor-widget elementor-widget-text-editor\" data-id=\"31f7b19\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3>Internal succession planning<\/h3><p>In a Management Buy-out (MBO), 100% of a company&#8217;s shares are sold to a newly founded holding company. BPE owns a majority stake in this holding company, while the existing executives or management members of the respective company take over a minority stake. Other key employees of the company might also get the option to acquire a rather small stake in the company. Generally, these are influential and meritable employees who hold management positions in either development, production or sales. Of particular interest to these managers and\/or other employees is the fact that they can acquire their shares at preferential conditions, or so called &#8220;sweet equity&#8221;.<\/p><p>In this type of succession planning, the existing management team and further selected employees (if any) become entrepreneurs themselves. Thus, the entrepreneur is replaced by one or more &#8220;new entrepreneurs&#8221;. The \u201cMittelstand\u201d company culture and the continuity in the management are preserved, which experience has shown to be a reassuring sign of confidence for the whole workforce. This concept also allows the retiring entrepreneur and other existing shareholders to (re-)invest in a minority stake in the company if they so wish and thus remain connected to the company in the long term.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t                    <\/div>\n\t\t        \n                    <div id=\"management-buy-in-mbi-tab\" class=\"clearfix eael-tab-content-item inactive\" data-title-link=\"management-buy-in-mbi-tab\">\n\t\t\t\t        <style>.elementor-widget-section .premium-global-badge-{{ID}} .premium-badge-text{color:var( --e-global-color-secondary );}.elementor-widget-section:not(.premium-gbadge-custom) .premium-global-badge-{{ID}} .premium-badge-container, .elementor-widget-section.premium-gbadge-custom .premium-global-badge-{{ID}} .premium-badge-container{background-color:var( --e-global-color-primary );}.elementor-widget-section .premium-global-badge-{{ID}} 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.elementor-element.elementor-element-ead3cd6:not(.pa-whole-link-yes) .premium-icon-box-link, .elementor-7534 .elementor-element.elementor-element-ead3cd6.pa-whole-link-yes .premium-icon-box-more{gap:6px;}.elementor-7534 .elementor-element.elementor-element-ead3cd6 .premium-icon-box-title{font-size:30px;margin:0px 0px 0px 0px;padding:0px 0px 0px 0px;}.elementor-7534 .elementor-element.elementor-element-ead3cd6 .premium-icon-box-label{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );margin:0px 0px 0px 0px;}.elementor-7534 .elementor-element.elementor-element-ead3cd6 .premium-icon-box-content{font-size:var( --e-global-typography-e9d20bc-font-size );margin:0px 0px 0px 0px;padding:0px 0px 0px 0px;}.elementor-7534 .elementor-element.elementor-element-ead3cd6 .premium-icon-box-more{font-size:var( --e-global-typography-e32f843-font-size );}.elementor-7534 .elementor-element.elementor-element-ead3cd6.premium-icon-box-whole-text-yes .premium-icon-box-more, .elementor-7534 .elementor-element.elementor-element-ead3cd6 .premium-icon-box-link{margin:43px 0px 0px 0px;}.elementor-7534 .elementor-element.elementor-element-ead3cd6.premium-icon-box-whole-text-yes .premium-icon-box-more, .elementor-7534 .elementor-element.elementor-element-ead3cd6 .premium-icon-box-link, .elementor-7534 .elementor-element.elementor-element-ead3cd6 .premium-button-line6::after{padding:5px 5px 5px 5px;}.elementor-7534 .elementor-element.elementor-element-ead3cd6 .premium-icon-box-container-in{margin:0px 0px 0px 0px;padding:0px 0px 22px 0px;}.elementor-7534 .elementor-element.elementor-element-ead3cd6{margin:0px 0px 25px 0px;}.elementor-7534 .elementor-element.elementor-element-227e2bc1{font-size:var( --e-global-typography-e9d20bc-font-size );}.elementor-7534 .elementor-element.elementor-element-29d79841{font-size:var( --e-global-typography-text-font-size );}.elementor-7534 .elementor-element.elementor-element-321d30e2{font-size:var( --e-global-typography-e9d20bc-font-size );}}\/* Start Custom Fonts CSS *\/@font-face {\n\tfont-family: 'Rajdhani BPE';\n\tfont-style: normal;\n\tfont-weight: 300;\n\tfont-display: auto;\n\tsrc: url('https:\/\/www.bpe.de\/wp-content-329291\/uploads\/2021\/01\/rajdhani-regular.ttf') format('truetype');\n}\n@font-face {\n\tfont-family: 'Rajdhani BPE';\n\tfont-style: normal;\n\tfont-weight: 100;\n\tfont-display: auto;\n\tsrc: url('https:\/\/www.bpe.de\/wp-content-329291\/uploads\/2021\/01\/rajdhani-light.ttf') format('truetype');\n}\n@font-face {\n\tfont-family: 'Rajdhani BPE';\n\tfont-style: normal;\n\tfont-weight: 400;\n\tfont-display: auto;\n\tsrc: url('https:\/\/www.bpe.de\/wp-content-329291\/uploads\/2021\/01\/rajdhani-medium.ttf') format('truetype');\n}\n@font-face {\n\tfont-family: 'Rajdhani BPE';\n\tfont-style: normal;\n\tfont-weight: 500;\n\tfont-display: auto;\n\tsrc: url('https:\/\/www.bpe.de\/wp-content-329291\/uploads\/2021\/01\/rajdhani-semibold.ttf') format('truetype');\n}\n@font-face {\n\tfont-family: 'Rajdhani BPE';\n\tfont-style: normal;\n\tfont-weight: 600;\n\tfont-display: auto;\n\tsrc: url('https:\/\/www.bpe.de\/wp-content-329291\/uploads\/2021\/01\/rajdhani-bold.ttf') format('truetype');\n}\n\/* End Custom Fonts CSS *\/<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"7534\" class=\"elementor elementor-7534\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-cbc09e6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cbc09e6\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4c355768\" data-id=\"4c355768\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5418db86 elementor-hidden-tablet elementor-hidden-phone elementor-widget elementor-widget-text-editor\" data-id=\"5418db86\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Management Buy-in (MBI)<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2291cfde elementor-drop-cap-yes elementor-drop-cap-view-default elementor-widget elementor-widget-text-editor\" data-id=\"2291cfde\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>External succession planning<\/h2><p>A Management Buy-in (MBI) is essentially the same as a Management Buy-out, the only difference being that the manager comes from &#8220;outside&#8221; and has not yet worked for the company. This becomes relevant if there is no management in the company that is qualified or motivated to take on entrepreneurial responsibilities. In this case, succession planning becomes a &#8220;real&#8221; succession problem. With the BPE MBI-Initiative, BPE has specialised in solving such succession problems by developing a small, exclusive network of managers who are interested in becoming entrepreneurs. The BPE MBI-Initiative focuses on the decisive investment criterion of &#8220;management quality&#8221;. Thus, a strictly selected, limited circle of potential operational managers is identified who can be specifically deployed as MBI-Candidates. Through BPE&#8217;s alliance with these MBI-Candidates, the succession of the shareholding (through BPE) and operations (through the MBI-Candidate) can be resolved.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-39c25e04 pa-whole-link-yes elementor-hidden-tablet elementor-hidden-phone premium-icon-box-flex-top elementor-widget elementor-widget-premium-addon-icon-box\" data-id=\"39c25e04\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"premium-addon-icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\r\n\t\t\t\t<div class=\"premium-icon-box-container-in\" data-box-tilt=\"true\" >\r\n\t\t\t<div class=\"premium-icon-box-icon-container\">\r\n\r\n\t\t\t\t<div class=\"premium-icon-wrapper\">\r\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 110.96 92.05\"><defs><style>.cls-1{fill:#fff;}<\/style><\/defs><g id=\"Ebene_1\" data-name=\"Ebene 1\"><path 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class=\"premium-icon-box-content-wrap\">\r\n\r\n\t\t\t\t\t\t\t\t\t<div class=\"premium-icon-box-text-wrap\">\r\n\t\t\t\t\t\r\n\t\t\t\t\t\t\t<h3 class=\"premium-icon-box-title\">The BPE MBI-Initiative\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/h3>\r\n\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"premium-icon-box-content\">\r\n\t\t\t\t\t\t\t<h3><span style=\"color: #ffffff;\"><strong>as a &#8220;real&#8221; succession solution<\/strong><\/span><\/h3><div class=\"gap\"> <\/div><p>If no suitable operational successor is available in the company, succession planning becomes a &#8220;real&#8221; succession problem.<\/p><p>The solution is a so-called Management Buy-in (MBI).<\/p>\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t<\/div>\r\n\r\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.bpe.de\/en\/mbi-initiative\/\" class=\"premium-icon-box-whole-link\"><span>The BPE MBI-Initiative<\/span><\/a>\r\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div 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class=\"premium-icon-box-content-wrap\">\r\n\r\n\t\t\t\t\t\t\t\t\t<div class=\"premium-icon-box-text-wrap\">\r\n\t\t\t\t\t\r\n\t\t\t\t\t\t\t<h3 class=\"premium-icon-box-title\">The BPE MBI-Initiative\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/h3>\r\n\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"premium-icon-box-content\">\r\n\t\t\t\t\t\t\t<p><span style=\"color: #ffffff;\"><strong>as a &#8220;real&#8221; succession solution<\/strong><\/span><\/p><p> <\/p><p>If no suitable operational successor is available in the company, succession planning becomes a &#8220;real&#8221; succession problem.<\/p><p>The solution is a so-called Management Buy-in (MBI).<\/p>\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"premium-icon-box-more\">\r\n\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.bpe.de\/en\/mbi-initiative\/\" class=\"premium-icon-box-link premium-button-none \" data-text=\"more info\">\r\n\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t<i class=\"premium-icon-box-more-icon  icomoon-the7-font-the7-arrow-39\" aria-hidden=\"true\"><\/i>\t\t\t\t\t\t\t\t\t<div class=\"premium-button-text-icon-wrapper\">\r\n\t\t\t\t\t\t\t\t\t\t<span>more info<\/span>\r\n\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t<\/div>\r\n\r\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-inner-section elementor-element elementor-element-1f4a8c2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1f4a8c2\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-8f4d56\" data-id=\"8f4d56\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-227e2bc1 elementor-widget elementor-widget-text-editor\" data-id=\"227e2bc1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3>Drivers of external succession<\/h3>\n<p>BPE estimates that the importance of succession planning and, in particular, external succession solutions will continue to increase in German \u201dMittelstand\u201d companies. This assessment results from the following considerations, which in turn are based on current predominant trends:<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-29d79841 elementor-widget elementor-widget-text-editor\" data-id=\"29d79841\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3>Demographic change<\/h3><p>Baby boomers in Germany (1955-65) will increasingly reach retirement age in the next few years. However, the generation following the &#8220;baby boomers&#8221; is comparatively small and thus reduces the choice of successors within the\u00a0family.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-67d09c10\" data-id=\"67d09c10\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-321d30e2 elementor-widget elementor-widget-text-editor\" data-id=\"321d30e2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3>&#8220;Silver Society&#8221; and individualisation<\/h3><p>An improved personal work-life balance and a new under\u00adstand\u00ading of age (down aging) tend to lead entrepreneurs to want to retire earlier. In addition to and apart from the purely quantitative effect of a lower number of children, plurality and free personality development as transformed values of a younger generation make family-internal succession arrangements more difficult. Following in the footsteps of the parent has long since become a less natural choice for a generation that values independence and personal freedom.<\/p><p>Finally, the positive net balance of start-ups in Germany, as determined by the IfM, has led to a steadily increasing number of companies and, by extension, will naturally lead to a larger number of future succession planning.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t                    <\/div>\n\t\t        \n                    <div id=\"owners-buy-out-obo-tab\" class=\"clearfix eael-tab-content-item inactive\" data-title-link=\"owners-buy-out-obo-tab\">\n\t\t\t\t        <style>.elementor-widget-section .premium-global-badge-{{ID}} .premium-badge-text{color:var( --e-global-color-secondary );}.elementor-widget-section:not(.premium-gbadge-custom) .premium-global-badge-{{ID}} 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--e-global-color-secondary );fill:var( --e-global-color-secondary );}.elementor-7530 .elementor-element.elementor-element-c75b387{text-align:start;font-family:var( --e-global-typography-16a6c15-font-family ), Sans-serif;font-size:var( --e-global-typography-16a6c15-font-size );font-weight:var( --e-global-typography-16a6c15-font-weight );text-transform:var( --e-global-typography-16a6c15-text-transform );line-height:var( --e-global-typography-16a6c15-line-height );color:var( --e-global-color-text );--textColor:var( --e-global-color-text );}.elementor-7530 .elementor-element.elementor-element-c75b387 > .elementor-widget-container{padding:2px 0px 0px 0px;}.elementor-7530 .elementor-element.elementor-element-9d94be5{columns:2;}.elementor-7530 .elementor-element.elementor-element-9d94be5 .elementor-drop-cap{margin-inline-end:10px;}.elementor-7530 .elementor-element.elementor-element-9d94be5 .elementor-drop-cap-letter{font-family:var( --e-global-typography-84d0d03-font-family ), Sans-serif;font-size:var( --e-global-typography-84d0d03-font-size );font-weight:var( --e-global-typography-84d0d03-font-weight );line-height:var( --e-global-typography-84d0d03-line-height );}@media(max-width:1024px){.elementor-widget-section .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section .protected-content-error-msg{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-widget-column.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( 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.elementor-element.elementor-element-9d94be5 .elementor-drop-cap-letter{font-size:var( --e-global-typography-84d0d03-font-size );line-height:var( --e-global-typography-84d0d03-line-height );}}@media(max-width:767px){.elementor-widget-section .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section .protected-content-error-msg{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-7530 .elementor-element.elementor-element-6ad964bf{padding:0px 0px 0px 0px;}.elementor-widget-column.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-7530 .elementor-element.elementor-element-42a182e3 > .elementor-widget-wrap > .elementor-widget:not(.elementor-widget__width-auto):not(.elementor-widget__width-initial):not(:last-child):not(.elementor-absolute){margin-block-end:0px;}.elementor-7530 .elementor-element.elementor-element-42a182e3 > .elementor-element-populated{padding:0px 0px 0px 0px;}.elementor-widget-text-editor{font-size:var( --e-global-typography-text-font-size );}.elementor-widget-text-editor .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-text-editor .protected-content-error-msg{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-text-editor.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-7530 .elementor-element.elementor-element-c75b387{font-size:var( --e-global-typography-16a6c15-font-size );line-height:var( --e-global-typography-16a6c15-line-height );}.elementor-7530 .elementor-element.elementor-element-9d94be5{columns:1;}.elementor-7530 .elementor-element.elementor-element-9d94be5 .elementor-drop-cap-letter{font-size:var( --e-global-typography-84d0d03-font-size );line-height:var( --e-global-typography-84d0d03-line-height );}.elementor-7530 .elementor-element.elementor-element-9d94be5 > .elementor-widget-container{padding:10px 10px 10px 10px;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"7530\" class=\"elementor elementor-7530 elementor-2256 elementor-2256\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-6ad964bf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6ad964bf\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-42a182e3\" data-id=\"42a182e3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c75b387 elementor-hidden-tablet elementor-hidden-phone elementor-widget elementor-widget-text-editor\" data-id=\"c75b387\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Owners Buy-out (OBO)<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d94be5 elementor-drop-cap-yes elementor-drop-cap-view-default elementor-widget elementor-widget-text-editor\" data-id=\"9d94be5\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>Asset diversification<br \/>and initiation of succession planning<\/h2>\n<p>Increasingly, company owners are thinking about their succession at a relatively early age. Simultaneously, company owners feel the need to diversify their assets, which are usually heavily tied up in their company. This can be done by means of a so-called Owners Buy-out (OBO). In this case, the entrepreneur sells the company to a newly established holding company.<br \/>The holding company owns a majority stake in this company and the entrepreneur acquires a minority stake from the previously realised purchase price. In this way, the entrepreneur can realise a significant portion of the company value, but remains a shareholder and is still involved in company operations. In the course of an Owners Buy-out, consideration can also be given as to whether to extend the circle of shareholders by including existing, suitable and talented second managers as shareholders. Such a process can be the cautious initiation of a succession planning as well as the beginning of a dynamic expansion strategy.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t                    <\/div>\n\t\t        \n                    <div id=\"buy-and-build-add-on-tab\" class=\"clearfix eael-tab-content-item inactive\" data-title-link=\"buy-and-build-add-on-tab\">\n\t\t\t\t        <style>.elementor-widget-section .premium-global-badge-{{ID}} .premium-badge-text{color:var( --e-global-color-secondary );}.elementor-widget-section:not(.premium-gbadge-custom) .premium-global-badge-{{ID}} .premium-badge-container, .elementor-widget-section.premium-gbadge-custom .premium-global-badge-{{ID}} .premium-badge-container{background-color:var( --e-global-color-primary );}.elementor-widget-section .premium-global-badge-{{ID}} .premium-badge-icon{color:var( --e-global-color-secondary );fill:var( 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.premium-badge-icon{color:var( --e-global-color-secondary );fill:var( --e-global-color-secondary );}.elementor-widget-text-editor{font-family:var( --e-global-typography-text-font-family ), Sans-serif;font-size:var( --e-global-typography-text-font-size );font-weight:var( --e-global-typography-text-font-weight );color:var( --e-global-color-text );--textColor:var( --e-global-color-text );}.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:var( --e-global-color-primary );}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap, .elementor-widget-text-editor.elementor-drop-cap-view-default .elementor-drop-cap{color:var( --e-global-color-primary );border-color:var( --e-global-color-primary );}.elementor-widget-text-editor .eael-protected-content-message{font-family:var( --e-global-typography-secondary-font-family ), Sans-serif;font-size:var( --e-global-typography-secondary-font-size );font-weight:var( 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);}.elementor-widget-text-editor .premium-global-cursor-{{ID}}{color:var( --e-global-color-primary );fill:var( --e-global-color-primary );}.elementor-widget-text-editor .premium-global-badge-{{ID}} .premium-badge-text{color:var( --e-global-color-secondary );}.elementor-widget-text-editor:not(.premium-gbadge-custom) .premium-global-badge-{{ID}} .premium-badge-container, .elementor-widget-text-editor.premium-gbadge-custom .premium-global-badge-{{ID}} .premium-badge-container{background-color:var( --e-global-color-primary );}.elementor-widget-text-editor .premium-global-badge-{{ID}} .premium-badge-icon{color:var( --e-global-color-secondary );fill:var( --e-global-color-secondary );}.elementor-7526 .elementor-element.elementor-element-4c591c07{text-align:start;font-family:var( --e-global-typography-16a6c15-font-family ), Sans-serif;font-size:var( --e-global-typography-16a6c15-font-size );font-weight:var( --e-global-typography-16a6c15-font-weight );text-transform:var( --e-global-typography-16a6c15-text-transform );line-height:var( --e-global-typography-16a6c15-line-height );color:var( --e-global-color-text );--textColor:var( --e-global-color-text );}.elementor-7526 .elementor-element.elementor-element-4c591c07 > .elementor-widget-container{padding:2px 0px 0px 0px;}.elementor-7526 .elementor-element.elementor-element-5b4b087b{columns:2;}.elementor-7526 .elementor-element.elementor-element-5b4b087b .elementor-drop-cap{margin-inline-end:10px;}.elementor-7526 .elementor-element.elementor-element-5b4b087b .elementor-drop-cap-letter{font-family:var( --e-global-typography-84d0d03-font-family ), Sans-serif;font-size:var( --e-global-typography-84d0d03-font-size );font-weight:var( --e-global-typography-84d0d03-font-weight );line-height:var( --e-global-typography-84d0d03-line-height );}.elementor-7526 .elementor-element.elementor-element-5b4b087b > .elementor-widget-container{padding:10px 10px 10px 10px;}@media(max-width:1024px){.elementor-widget-section .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section .protected-content-error-msg{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-widget-column.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-widget-text-editor{font-size:var( --e-global-typography-text-font-size );}.elementor-widget-text-editor .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size 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.eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section .protected-content-error-msg{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-7526 .elementor-element.elementor-element-30f7c779{padding:0px 0px 0px 0px;}.elementor-widget-column.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-7526 .elementor-element.elementor-element-677f130f > .elementor-widget-wrap > .elementor-widget:not(.elementor-widget__width-auto):not(.elementor-widget__width-initial):not(:last-child):not(.elementor-absolute){margin-block-end:0px;}.elementor-7526 .elementor-element.elementor-element-677f130f > .elementor-element-populated{padding:0px 0px 0px 0px;}.elementor-widget-text-editor{font-size:var( --e-global-typography-text-font-size );}.elementor-widget-text-editor .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-text-editor .protected-content-error-msg{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-text-editor.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-7526 .elementor-element.elementor-element-4c591c07{font-size:var( --e-global-typography-16a6c15-font-size );line-height:var( --e-global-typography-16a6c15-line-height );}.elementor-7526 .elementor-element.elementor-element-5b4b087b{columns:1;}.elementor-7526 .elementor-element.elementor-element-5b4b087b .elementor-drop-cap-letter{font-size:var( --e-global-typography-84d0d03-font-size );line-height:var( --e-global-typography-84d0d03-line-height );}.elementor-7526 .elementor-element.elementor-element-5b4b087b > .elementor-widget-container{padding:0px 10px 0px 10px;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"7526\" class=\"elementor elementor-7526 elementor-2259 elementor-2259\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-30f7c779 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"30f7c779\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-677f130f\" data-id=\"677f130f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4c591c07 elementor-hidden-tablet elementor-hidden-phone elementor-widget elementor-widget-text-editor\" data-id=\"4c591c07\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Buy-and-Build, Add-on<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b4b087b elementor-drop-cap-yes elementor-drop-cap-view-default elementor-widget elementor-widget-text-editor\" data-id=\"5b4b087b\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>Buy-and-Build strategies<br \/>and Add-on acquisitions<\/h2><div>\u00a0<\/div><h3>Expansion via external growth<\/h3><p>The economic structure in Germany is characterised by a pyramid: The total amount of &#8220;Mittelstand&#8221; companies significantly decreases with increasing sales. Consequently, there are far less investment opportunities in the large cap segment compared to the small or even micro cap segment. This immediately validates the strategy of either merging a group of smaller, possibly complementary companies into a larger unit (Buy-and-Build strategy), or acquiring these smaller companies through a larger unit and integrating them into it (add-on), in order to grow a company inorganically through acquisitions or to broaden company competence. In addition to the classic advantage of economies of scale, the integration of smaller company units can lead to other highly synergistic effects for a company.<\/p><p>As companies grow in size, their stability, visibility and attractiveness for qualified employees, financing partners, customers and suppliers increases. These advantages are regularly reflected not only in absolute terms, but above all in relative terms in the form of a higher company value. Additionally, smaller individual companies can be merged into a more resilient corporate unit. For example, in the field of measurement and control technology, BPE aggregated four companies between 2007 and 2010. All four were succession plannings and were successfully merged to form a powerful, highly innovative and profitable measurement and control technology group. Between 2016 and 2019 a similar strategy was implemented in the Software\/IT segment by aggregating four individual complementary companies into one group.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t                    <\/div>\n\t\t                    <\/div>\n        <\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-617138ad elementor-hidden-desktop elementor-widget elementor-widget-eael-adv-accordion\" data-id=\"617138ad\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"eael-adv-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t            <div class=\"eael-adv-accordion\" id=\"eael-adv-accordion-617138ad\" data-scroll-on-click=\"no\" data-scroll-speed=\"300\" data-accordion-id=\"617138ad\" data-accordion-type=\"toggle\" data-toogle-speed=\"300\">\n            <div class=\"eael-accordion-list\">\n\t\t\t\t\t<div id=\"management-buy-out-mbo\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"1\" aria-controls=\"elementor-tab-content-1631\"><i aria-hidden=\"true\" class=\"fa-toggle fas fa-angle-right\"><\/i><span class=\"eael-accordion-tab-title\">Management Buy-out (MBO)<\/span><\/div><div id=\"elementor-tab-content-1631\" class=\"eael-accordion-content clearfix\" data-tab=\"1\" aria-labelledby=\"management-buy-out-mbo\"><style>.elementor-widget-section .premium-global-badge-{{ID}} .premium-badge-text{color:var( --e-global-color-secondary );}.elementor-widget-section:not(.premium-gbadge-custom) .premium-global-badge-{{ID}} .premium-badge-container, .elementor-widget-section.premium-gbadge-custom .premium-global-badge-{{ID}} .premium-badge-container{background-color:var( --e-global-color-primary );}.elementor-widget-section .premium-global-badge-{{ID}} .premium-badge-icon{color:var( --e-global-color-secondary );fill:var( 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.premium-badge-icon{color:var( --e-global-color-secondary );fill:var( --e-global-color-secondary );}.elementor-widget-text-editor{font-family:var( --e-global-typography-text-font-family ), Sans-serif;font-size:var( --e-global-typography-text-font-size );font-weight:var( --e-global-typography-text-font-weight );color:var( --e-global-color-text );--textColor:var( --e-global-color-text );}.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:var( --e-global-color-primary );}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap, .elementor-widget-text-editor.elementor-drop-cap-view-default .elementor-drop-cap{color:var( --e-global-color-primary );border-color:var( --e-global-color-primary );}.elementor-widget-text-editor .eael-protected-content-message{font-family:var( --e-global-typography-secondary-font-family ), Sans-serif;font-size:var( --e-global-typography-secondary-font-size );font-weight:var( 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);}.elementor-widget-text-editor .premium-global-cursor-{{ID}}{color:var( --e-global-color-primary );fill:var( --e-global-color-primary );}.elementor-widget-text-editor .premium-global-badge-{{ID}} .premium-badge-text{color:var( --e-global-color-secondary );}.elementor-widget-text-editor:not(.premium-gbadge-custom) .premium-global-badge-{{ID}} .premium-badge-container, .elementor-widget-text-editor.premium-gbadge-custom .premium-global-badge-{{ID}} .premium-badge-container{background-color:var( --e-global-color-primary );}.elementor-widget-text-editor .premium-global-badge-{{ID}} .premium-badge-icon{color:var( --e-global-color-secondary );fill:var( --e-global-color-secondary );}.elementor-10210 .elementor-element.elementor-element-4aafaae1{text-align:start;font-family:var( --e-global-typography-16a6c15-font-family ), Sans-serif;font-size:var( --e-global-typography-16a6c15-font-size );font-weight:var( --e-global-typography-16a6c15-font-weight );text-transform:var( --e-global-typography-16a6c15-text-transform );line-height:var( --e-global-typography-16a6c15-line-height );color:var( --e-global-color-text );--textColor:var( --e-global-color-text );}.elementor-10210 .elementor-element.elementor-element-4aafaae1 > .elementor-widget-container{padding:2px 0px 0px 0px;}.elementor-10210 .elementor-element.elementor-element-31f7b19{columns:2;}.elementor-10210 .elementor-element.elementor-element-31f7b19 .elementor-drop-cap{margin-inline-end:10px;}.elementor-10210 .elementor-element.elementor-element-31f7b19 .elementor-drop-cap-letter{font-family:var( --e-global-typography-84d0d03-font-family ), Sans-serif;font-size:var( --e-global-typography-84d0d03-font-size );font-weight:var( --e-global-typography-84d0d03-font-weight );line-height:var( --e-global-typography-84d0d03-line-height );}@media(max-width:1024px){.elementor-widget-section .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section .protected-content-error-msg{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-widget-column.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-widget-text-editor{font-size:var( --e-global-typography-text-font-size );}.elementor-widget-text-editor .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( 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.elementor-widget:not(.elementor-widget__width-auto):not(.elementor-widget__width-initial):not(:last-child):not(.elementor-absolute){margin-block-end:0px;}.elementor-10210 .elementor-element.elementor-element-3091db1 > .elementor-element-populated{padding:0px 0px 0px 0px;}.elementor-widget-text-editor{font-size:var( --e-global-typography-text-font-size );}.elementor-widget-text-editor .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-text-editor .protected-content-error-msg{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-text-editor.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-10210 .elementor-element.elementor-element-4aafaae1{font-size:var( --e-global-typography-16a6c15-font-size );line-height:var( --e-global-typography-16a6c15-line-height );}.elementor-10210 .elementor-element.elementor-element-31f7b19{columns:1;}.elementor-10210 .elementor-element.elementor-element-31f7b19 .elementor-drop-cap-letter{font-size:var( --e-global-typography-84d0d03-font-size );line-height:var( --e-global-typography-84d0d03-line-height );}.elementor-10210 .elementor-element.elementor-element-31f7b19 > .elementor-widget-container{padding:10px 10px 10px 10px;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"10210\" class=\"elementor elementor-10210 elementor-2249 elementor-2249\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-6665bb44 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6665bb44\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3091db1\" data-id=\"3091db1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4aafaae1 elementor-hidden-tablet elementor-hidden-phone elementor-widget elementor-widget-text-editor\" data-id=\"4aafaae1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Management Buy-out (MBO)<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-31f7b19 elementor-drop-cap-yes elementor-drop-cap-view-default elementor-widget elementor-widget-text-editor\" data-id=\"31f7b19\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3>Internal succession planning<\/h3><p>In a Management Buy-out (MBO), 100% of a company&#8217;s shares are sold to a newly founded holding company. BPE owns a majority stake in this holding company, while the existing executives or management members of the respective company take over a minority stake. Other key employees of the company might also get the option to acquire a rather small stake in the company. Generally, these are influential and meritable employees who hold management positions in either development, production or sales. Of particular interest to these managers and\/or other employees is the fact that they can acquire their shares at preferential conditions, or so called &#8220;sweet equity&#8221;.<\/p><p>In this type of succession planning, the existing management team and further selected employees (if any) become entrepreneurs themselves. Thus, the entrepreneur is replaced by one or more &#8220;new entrepreneurs&#8221;. The \u201cMittelstand\u201d company culture and the continuity in the management are preserved, which experience has shown to be a reassuring sign of confidence for the whole workforce. This concept also allows the retiring entrepreneur and other existing shareholders to (re-)invest in a minority stake in the company if they so wish and thus remain connected to the company in the long term.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div><div class=\"eael-accordion-list\">\n\t\t\t\t\t<div id=\"management-buy-in-mbi\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"2\" aria-controls=\"elementor-tab-content-1632\"><i aria-hidden=\"true\" class=\"fa-toggle fas fa-angle-right\"><\/i><span class=\"eael-accordion-tab-title\">Management Buy-in (MBI)<\/span><\/div><div id=\"elementor-tab-content-1632\" class=\"eael-accordion-content clearfix\" data-tab=\"2\" aria-labelledby=\"management-buy-in-mbi\"><style>.elementor-widget-section .premium-global-badge-{{ID}} .premium-badge-text{color:var( --e-global-color-secondary 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0px;}.elementor-7534 .elementor-element.elementor-element-227e2bc1{font-size:var( --e-global-typography-e9d20bc-font-size );}.elementor-7534 .elementor-element.elementor-element-29d79841{font-size:var( --e-global-typography-text-font-size );}.elementor-7534 .elementor-element.elementor-element-321d30e2{font-size:var( --e-global-typography-e9d20bc-font-size );}}\/* Start Custom Fonts CSS *\/@font-face {\n\tfont-family: 'Rajdhani BPE';\n\tfont-style: normal;\n\tfont-weight: 300;\n\tfont-display: auto;\n\tsrc: url('https:\/\/www.bpe.de\/wp-content-329291\/uploads\/2021\/01\/rajdhani-regular.ttf') format('truetype');\n}\n@font-face {\n\tfont-family: 'Rajdhani BPE';\n\tfont-style: normal;\n\tfont-weight: 100;\n\tfont-display: auto;\n\tsrc: url('https:\/\/www.bpe.de\/wp-content-329291\/uploads\/2021\/01\/rajdhani-light.ttf') format('truetype');\n}\n@font-face {\n\tfont-family: 'Rajdhani BPE';\n\tfont-style: normal;\n\tfont-weight: 400;\n\tfont-display: auto;\n\tsrc: url('https:\/\/www.bpe.de\/wp-content-329291\/uploads\/2021\/01\/rajdhani-medium.ttf') format('truetype');\n}\n@font-face {\n\tfont-family: 'Rajdhani BPE';\n\tfont-style: normal;\n\tfont-weight: 500;\n\tfont-display: auto;\n\tsrc: url('https:\/\/www.bpe.de\/wp-content-329291\/uploads\/2021\/01\/rajdhani-semibold.ttf') format('truetype');\n}\n@font-face {\n\tfont-family: 'Rajdhani BPE';\n\tfont-style: normal;\n\tfont-weight: 600;\n\tfont-display: auto;\n\tsrc: url('https:\/\/www.bpe.de\/wp-content-329291\/uploads\/2021\/01\/rajdhani-bold.ttf') format('truetype');\n}\n\/* End Custom Fonts CSS *\/<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"7534\" class=\"elementor elementor-7534\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-cbc09e6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cbc09e6\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4c355768\" data-id=\"4c355768\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5418db86 elementor-hidden-tablet elementor-hidden-phone elementor-widget elementor-widget-text-editor\" data-id=\"5418db86\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Management Buy-in (MBI)<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2291cfde elementor-drop-cap-yes elementor-drop-cap-view-default elementor-widget elementor-widget-text-editor\" data-id=\"2291cfde\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>External succession planning<\/h2><p>A Management Buy-in (MBI) is essentially the same as a Management Buy-out, the only difference being that the manager comes from &#8220;outside&#8221; and has not yet worked for the company. This becomes relevant if there is no management in the company that is qualified or motivated to take on entrepreneurial responsibilities. In this case, succession planning becomes a &#8220;real&#8221; succession problem. With the BPE MBI-Initiative, BPE has specialised in solving such succession problems by developing a small, exclusive network of managers who are interested in becoming entrepreneurs. The BPE MBI-Initiative focuses on the decisive investment criterion of &#8220;management quality&#8221;. Thus, a strictly selected, limited circle of potential operational managers is identified who can be specifically deployed as MBI-Candidates. Through BPE&#8217;s alliance with these MBI-Candidates, the succession of the shareholding (through BPE) and operations (through the MBI-Candidate) can be resolved.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-39c25e04 pa-whole-link-yes elementor-hidden-tablet elementor-hidden-phone premium-icon-box-flex-top elementor-widget elementor-widget-premium-addon-icon-box\" data-id=\"39c25e04\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"premium-addon-icon-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\r\n\t\t\t\t<div class=\"premium-icon-box-container-in\" data-box-tilt=\"true\" >\r\n\t\t\t<div class=\"premium-icon-box-icon-container\">\r\n\r\n\t\t\t\t<div class=\"premium-icon-wrapper\">\r\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 110.96 92.05\"><defs><style>.cls-1{fill:#fff;}<\/style><\/defs><g id=\"Ebene_1\" data-name=\"Ebene 1\"><path 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class=\"premium-icon-box-content-wrap\">\r\n\r\n\t\t\t\t\t\t\t\t\t<div class=\"premium-icon-box-text-wrap\">\r\n\t\t\t\t\t\r\n\t\t\t\t\t\t\t<h3 class=\"premium-icon-box-title\">The BPE MBI-Initiative\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/h3>\r\n\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"premium-icon-box-content\">\r\n\t\t\t\t\t\t\t<h3><span style=\"color: #ffffff;\"><strong>as a &#8220;real&#8221; succession solution<\/strong><\/span><\/h3><div class=\"gap\"> <\/div><p>If no suitable operational successor is available in the company, succession planning becomes a &#8220;real&#8221; succession problem.<\/p><p>The solution is a so-called Management Buy-in (MBI).<\/p>\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\r\n\t\t\t\t\t\t\t<\/div>\r\n\t\t<\/div>\r\n\r\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.bpe.de\/en\/mbi-initiative\/\" class=\"premium-icon-box-whole-link\"><span>The BPE MBI-Initiative<\/span><\/a>\r\n\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div 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class=\"premium-icon-box-content-wrap\">\r\n\r\n\t\t\t\t\t\t\t\t\t<div class=\"premium-icon-box-text-wrap\">\r\n\t\t\t\t\t\r\n\t\t\t\t\t\t\t<h3 class=\"premium-icon-box-title\">The BPE MBI-Initiative\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/h3>\r\n\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"premium-icon-box-content\">\r\n\t\t\t\t\t\t\t<p><span style=\"color: #ffffff;\"><strong>as a &#8220;real&#8221; succession solution<\/strong><\/span><\/p><p> <\/p><p>If no suitable operational successor is available in the company, succession planning becomes a &#8220;real&#8221; succession problem.<\/p><p>The solution is a so-called Management Buy-in (MBI).<\/p>\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"premium-icon-box-more\">\r\n\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.bpe.de\/en\/mbi-initiative\/\" class=\"premium-icon-box-link premium-button-none \" data-text=\"more info\">\r\n\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t<i class=\"premium-icon-box-more-icon  icomoon-the7-font-the7-arrow-39\" aria-hidden=\"true\"><\/i>\t\t\t\t\t\t\t\t\t<div class=\"premium-button-text-icon-wrapper\">\r\n\t\t\t\t\t\t\t\t\t\t<span>more info<\/span>\r\n\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t<\/div>\r\n\r\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-inner-section elementor-element elementor-element-1f4a8c2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1f4a8c2\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-8f4d56\" data-id=\"8f4d56\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-227e2bc1 elementor-widget elementor-widget-text-editor\" data-id=\"227e2bc1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3>Drivers of external succession<\/h3>\n<p>BPE estimates that the importance of succession planning and, in particular, external succession solutions will continue to increase in German \u201dMittelstand\u201d companies. This assessment results from the following considerations, which in turn are based on current predominant trends:<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-29d79841 elementor-widget elementor-widget-text-editor\" data-id=\"29d79841\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3>Demographic change<\/h3><p>Baby boomers in Germany (1955-65) will increasingly reach retirement age in the next few years. However, the generation following the &#8220;baby boomers&#8221; is comparatively small and thus reduces the choice of successors within the\u00a0family.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-67d09c10\" data-id=\"67d09c10\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-321d30e2 elementor-widget elementor-widget-text-editor\" data-id=\"321d30e2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3>&#8220;Silver Society&#8221; and individualisation<\/h3><p>An improved personal work-life balance and a new under\u00adstand\u00ading of age (down aging) tend to lead entrepreneurs to want to retire earlier. In addition to and apart from the purely quantitative effect of a lower number of children, plurality and free personality development as transformed values of a younger generation make family-internal succession arrangements more difficult. Following in the footsteps of the parent has long since become a less natural choice for a generation that values independence and personal freedom.<\/p><p>Finally, the positive net balance of start-ups in Germany, as determined by the IfM, has led to a steadily increasing number of companies and, by extension, will naturally lead to a larger number of future succession planning.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div><div class=\"eael-accordion-list\">\n\t\t\t\t\t<div id=\"owners-buy-out\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"3\" aria-controls=\"elementor-tab-content-1633\"><i aria-hidden=\"true\" class=\"fa-toggle fas fa-angle-right\"><\/i><span class=\"eael-accordion-tab-title\">Owners Buy-out<\/span><\/div><div id=\"elementor-tab-content-1633\" 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.elementor-element.elementor-element-9d94be5 .elementor-drop-cap{margin-inline-end:10px;}.elementor-7530 .elementor-element.elementor-element-9d94be5 .elementor-drop-cap-letter{font-family:var( --e-global-typography-84d0d03-font-family ), Sans-serif;font-size:var( --e-global-typography-84d0d03-font-size );font-weight:var( --e-global-typography-84d0d03-font-weight );line-height:var( --e-global-typography-84d0d03-line-height );}@media(max-width:1024px){.elementor-widget-section .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section .protected-content-error-msg{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-widget-column.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-widget-text-editor{font-size:var( --e-global-typography-text-font-size );}.elementor-widget-text-editor .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-text-editor .protected-content-error-msg{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-text-editor.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( 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.premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-7530 .elementor-element.elementor-element-6ad964bf{padding:0px 0px 0px 0px;}.elementor-widget-column.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-7530 .elementor-element.elementor-element-42a182e3 > .elementor-widget-wrap > .elementor-widget:not(.elementor-widget__width-auto):not(.elementor-widget__width-initial):not(:last-child):not(.elementor-absolute){margin-block-end:0px;}.elementor-7530 .elementor-element.elementor-element-42a182e3 > .elementor-element-populated{padding:0px 0px 0px 0px;}.elementor-widget-text-editor{font-size:var( --e-global-typography-text-font-size );}.elementor-widget-text-editor .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height 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.elementor-element.elementor-element-9d94be5 > .elementor-widget-container{padding:10px 10px 10px 10px;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"7530\" class=\"elementor elementor-7530 elementor-2256 elementor-2256\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-6ad964bf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6ad964bf\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-42a182e3\" data-id=\"42a182e3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c75b387 elementor-hidden-tablet elementor-hidden-phone elementor-widget elementor-widget-text-editor\" data-id=\"c75b387\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Owners Buy-out (OBO)<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d94be5 elementor-drop-cap-yes elementor-drop-cap-view-default elementor-widget elementor-widget-text-editor\" data-id=\"9d94be5\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>Asset diversification<br \/>and initiation of succession planning<\/h2>\n<p>Increasingly, company owners are thinking about their succession at a relatively early age. Simultaneously, company owners feel the need to diversify their assets, which are usually heavily tied up in their company. This can be done by means of a so-called Owners Buy-out (OBO). In this case, the entrepreneur sells the company to a newly established holding company.<br \/>The holding company owns a majority stake in this company and the entrepreneur acquires a minority stake from the previously realised purchase price. In this way, the entrepreneur can realise a significant portion of the company value, but remains a shareholder and is still involved in company operations. In the course of an Owners Buy-out, consideration can also be given as to whether to extend the circle of shareholders by including existing, suitable and talented second managers as shareholders. Such a process can be the cautious initiation of a succession planning as well as the beginning of a dynamic expansion strategy.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div><div class=\"eael-accordion-list\">\n\t\t\t\t\t<div id=\"buy-and-build-add-on\" class=\"elementor-tab-title eael-accordion-header\" tabindex=\"0\" data-tab=\"4\" aria-controls=\"elementor-tab-content-1634\"><i aria-hidden=\"true\" class=\"fa-toggle fas fa-angle-right\"><\/i><span class=\"eael-accordion-tab-title\">Buy and build, Add-on<\/span><\/div><div id=\"elementor-tab-content-1634\" class=\"eael-accordion-content clearfix\" data-tab=\"4\" aria-labelledby=\"buy-and-build-add-on\"><style>.elementor-widget-section .premium-global-badge-{{ID}} .premium-badge-text{color:var( --e-global-color-secondary );}.elementor-widget-section:not(.premium-gbadge-custom) .premium-global-badge-{{ID}} 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Sans-serif;font-size:var( --e-global-typography-84d0d03-font-size );font-weight:var( --e-global-typography-84d0d03-font-weight );line-height:var( --e-global-typography-84d0d03-line-height );}.elementor-7526 .elementor-element.elementor-element-5b4b087b > .elementor-widget-container{padding:10px 10px 10px 10px;}@media(max-width:1024px){.elementor-widget-section .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section .protected-content-error-msg{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-section.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size 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);}.elementor-7526 .elementor-element.elementor-element-30f7c779{padding:0px 0px 0px 0px;}.elementor-widget-column.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-7526 .elementor-element.elementor-element-677f130f > .elementor-widget-wrap > .elementor-widget:not(.elementor-widget__width-auto):not(.elementor-widget__width-initial):not(:last-child):not(.elementor-absolute){margin-block-end:0px;}.elementor-7526 .elementor-element.elementor-element-677f130f > .elementor-element-populated{padding:0px 0px 0px 0px;}.elementor-widget-text-editor{font-size:var( --e-global-typography-text-font-size );}.elementor-widget-text-editor .eael-protected-content-message{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-text-editor .protected-content-error-msg{font-size:var( --e-global-typography-secondary-font-size );line-height:var( --e-global-typography-secondary-line-height );letter-spacing:var( --e-global-typography-secondary-letter-spacing );}.elementor-widget-text-editor.premium-cursor-ftext .premium-global-cursor-{{ID}} .premium-cursor-follow-text{font-size:var( --e-global-typography-primary-font-size );}.elementor-7526 .elementor-element.elementor-element-4c591c07{font-size:var( --e-global-typography-16a6c15-font-size );line-height:var( --e-global-typography-16a6c15-line-height );}.elementor-7526 .elementor-element.elementor-element-5b4b087b{columns:1;}.elementor-7526 .elementor-element.elementor-element-5b4b087b .elementor-drop-cap-letter{font-size:var( --e-global-typography-84d0d03-font-size );line-height:var( --e-global-typography-84d0d03-line-height );}.elementor-7526 .elementor-element.elementor-element-5b4b087b > .elementor-widget-container{padding:0px 10px 0px 10px;}}<\/style>\t\t<div data-elementor-type=\"section\" data-elementor-id=\"7526\" class=\"elementor elementor-7526 elementor-2259 elementor-2259\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-30f7c779 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"30f7c779\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-677f130f\" data-id=\"677f130f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4c591c07 elementor-hidden-tablet elementor-hidden-phone elementor-widget elementor-widget-text-editor\" data-id=\"4c591c07\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Buy-and-Build, Add-on<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b4b087b elementor-drop-cap-yes elementor-drop-cap-view-default elementor-widget elementor-widget-text-editor\" data-id=\"5b4b087b\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>Buy-and-Build strategies<br \/>and Add-on acquisitions<\/h2><div>\u00a0<\/div><h3>Expansion via external growth<\/h3><p>The economic structure in Germany is characterised by a pyramid: The total amount of &#8220;Mittelstand&#8221; companies significantly decreases with increasing sales. Consequently, there are far less investment opportunities in the large cap segment compared to the small or even micro cap segment. This immediately validates the strategy of either merging a group of smaller, possibly complementary companies into a larger unit (Buy-and-Build strategy), or acquiring these smaller companies through a larger unit and integrating them into it (add-on), in order to grow a company inorganically through acquisitions or to broaden company competence. In addition to the classic advantage of economies of scale, the integration of smaller company units can lead to other highly synergistic effects for a company.<\/p><p>As companies grow in size, their stability, visibility and attractiveness for qualified employees, financing partners, customers and suppliers increases. These advantages are regularly reflected not only in absolute terms, but above all in relative terms in the form of a higher company value. Additionally, smaller individual companies can be merged into a more resilient corporate unit. For example, in the field of measurement and control technology, BPE aggregated four companies between 2007 and 2010. All four were succession plannings and were successfully merged to form a powerful, highly innovative and profitable measurement and control technology group. Between 2016 and 2019 a similar strategy was implemented in the Software\/IT segment by aggregating four individual complementary companies into one group.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-inner-section elementor-element elementor-element-3adb84d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3adb84d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-29cd5ea\" data-id=\"29cd5ea\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-df3fdf0 elementor-widget elementor-widget-spacer\" data-id=\"df3fdf0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-0457044 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0457044\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-313fd75\" data-id=\"313fd75\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-40047e4 elementor-widget elementor-widget-text-editor\" data-id=\"40047e4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>BPE\u2019s types of investment<\/h2><p>Average number of potential transactions (from 2010)<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-66962da elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"66962da\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-22163bb\" data-id=\"22163bb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2259037 elementor-widget elementor-widget-template\" data-id=\"2259037\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"7502\" class=\"elementor elementor-7502 elementor-2824 elementor-2824\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-c064a6c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c064a6c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-99d8293\" data-id=\"99d8293\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-inner-section elementor-element elementor-element-3a9db8d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3a9db8d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-7c9d1fa\" data-id=\"7c9d1fa\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cf51ef6 elementor-widget__width-initial elementor-widget elementor-widget-premium-chart\" data-id=\"cf51ef6\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;type&quot;:&quot;doughnut&quot;,&quot;duration&quot;:500,&quot;format_locale&quot;:&quot;de&quot;,&quot;data_source&quot;:&quot;custom&quot;,&quot;data_type&quot;:&quot;linear&quot;,&quot;start_animation&quot;:&quot;easeInQuad&quot;,&quot;render_event&quot;:&quot;scroll&quot;,&quot;x_axis_label_size&quot;:12,&quot;x_axis_labels_size&quot;:12,&quot;x_axis_grid_color&quot;:&quot;#6ec1e4&quot;,&quot;x_axis_grid_width&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:1,&quot;sizes&quot;:[]},&quot;y_axis_label_size&quot;:12,&quot;y_axis_labels_size&quot;:12,&quot;y_axis_grid_color&quot;:&quot;#54595f&quot;,&quot;y_axis_grid_width&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:1,&quot;sizes&quot;:[]}}\" data-widget_type=\"premium-chart.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\r\n\t<div id=\"premium-chart-container-cf51ef6\" class=\"premium-chart-container\" data-chart=\"[{&quot;label&quot;:&quot;Dataset #1&quot;,&quot;data&quot;:[&quot;44&quot;,&quot;56&quot;],&quot;links&quot;:[&quot;&quot;],&quot;backgroundColor&quot;:[&quot;#9D535A&quot;],&quot;borderColor&quot;:&quot;#fff&quot;,&quot;borderWidth&quot;:0}]\" data-settings=\"{&quot;chartId&quot;:&quot;premium-chart-canvas-cf51ef6&quot;,&quot;height&quot;:200}\">\r\n\t\t\t\t<div class=\"premium-chart-canvas-container\">\r\n\t\t\t<canvas id=\"premium-chart-canvas-cf51ef6\" class=\"premium-chart-canvas\" width=\"400\" height=\"400\"><\/canvas>\r\n\t\t<\/div>\r\n\t\t\t<\/div>\r\n\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dbf0672 elementor-widget elementor-widget-counter\" data-id=\"dbf0672\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t<div class=\"elementor-counter-title\">Management Buy-in<\/div>\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\"><\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"44\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6306e7e elementor-hidden-desktop elementor-hidden-phone elementor-widget elementor-widget-spacer\" data-id=\"6306e7e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-b38a19c\" data-id=\"b38a19c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-43a1e6d elementor-widget__width-initial elementor-widget elementor-widget-premium-chart\" data-id=\"43a1e6d\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;type&quot;:&quot;doughnut&quot;,&quot;duration&quot;:500,&quot;format_locale&quot;:&quot;de&quot;,&quot;data_source&quot;:&quot;custom&quot;,&quot;data_type&quot;:&quot;linear&quot;,&quot;start_animation&quot;:&quot;easeInQuad&quot;,&quot;render_event&quot;:&quot;scroll&quot;,&quot;x_axis_label_size&quot;:12,&quot;x_axis_labels_size&quot;:12,&quot;x_axis_grid_color&quot;:&quot;#6ec1e4&quot;,&quot;x_axis_grid_width&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:1,&quot;sizes&quot;:[]},&quot;y_axis_label_size&quot;:12,&quot;y_axis_labels_size&quot;:12,&quot;y_axis_grid_color&quot;:&quot;#54595f&quot;,&quot;y_axis_grid_width&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:1,&quot;sizes&quot;:[]}}\" data-widget_type=\"premium-chart.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\r\n\t<div id=\"premium-chart-container-43a1e6d\" class=\"premium-chart-container\" data-chart=\"[{&quot;label&quot;:&quot;Dataset #1&quot;,&quot;data&quot;:[&quot;21&quot;,&quot;79&quot;],&quot;links&quot;:[&quot;&quot;],&quot;backgroundColor&quot;:[&quot;#9D535A&quot;],&quot;borderColor&quot;:&quot;#fff&quot;,&quot;borderWidth&quot;:0}]\" data-settings=\"{&quot;chartId&quot;:&quot;premium-chart-canvas-43a1e6d&quot;,&quot;height&quot;:200}\">\r\n\t\t\t\t<div class=\"premium-chart-canvas-container\">\r\n\t\t\t<canvas id=\"premium-chart-canvas-43a1e6d\" class=\"premium-chart-canvas\" width=\"400\" height=\"400\"><\/canvas>\r\n\t\t<\/div>\r\n\t\t\t<\/div>\r\n\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-32f9765 elementor-widget elementor-widget-counter\" data-id=\"32f9765\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t<div class=\"elementor-counter-title\">Management Buy&#8209;out<\/div>\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\"><\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"21\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-254e8ab elementor-hidden-desktop elementor-hidden-phone elementor-widget elementor-widget-spacer\" data-id=\"254e8ab\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-029ec7c\" data-id=\"029ec7c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-879621f elementor-widget__width-initial elementor-widget elementor-widget-premium-chart\" data-id=\"879621f\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;type&quot;:&quot;doughnut&quot;,&quot;duration&quot;:500,&quot;format_locale&quot;:&quot;de&quot;,&quot;data_source&quot;:&quot;custom&quot;,&quot;data_type&quot;:&quot;linear&quot;,&quot;start_animation&quot;:&quot;easeInQuad&quot;,&quot;render_event&quot;:&quot;scroll&quot;,&quot;x_axis_label_size&quot;:12,&quot;x_axis_labels_size&quot;:12,&quot;x_axis_grid_color&quot;:&quot;#6ec1e4&quot;,&quot;x_axis_grid_width&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:1,&quot;sizes&quot;:[]},&quot;y_axis_label_size&quot;:12,&quot;y_axis_labels_size&quot;:12,&quot;y_axis_grid_color&quot;:&quot;#54595f&quot;,&quot;y_axis_grid_width&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:1,&quot;sizes&quot;:[]}}\" data-widget_type=\"premium-chart.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\r\n\t<div id=\"premium-chart-container-879621f\" class=\"premium-chart-container\" data-chart=\"[{&quot;label&quot;:&quot;Dataset #1&quot;,&quot;data&quot;:[&quot;21&quot;,&quot; 79&quot;],&quot;links&quot;:[&quot;&quot;],&quot;backgroundColor&quot;:[&quot;#9D535A&quot;],&quot;borderColor&quot;:&quot;#fff&quot;,&quot;borderWidth&quot;:0}]\" data-settings=\"{&quot;chartId&quot;:&quot;premium-chart-canvas-879621f&quot;,&quot;height&quot;:200}\">\r\n\t\t\t\t<div class=\"premium-chart-canvas-container\">\r\n\t\t\t<canvas id=\"premium-chart-canvas-879621f\" class=\"premium-chart-canvas\" width=\"400\" height=\"400\"><\/canvas>\r\n\t\t<\/div>\r\n\t\t\t<\/div>\r\n\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-66379cd elementor-widget elementor-widget-counter\" data-id=\"66379cd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t<div class=\"elementor-counter-title\">Owner Buy-out<\/div>\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\"><\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"21\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-d9c6e03\" data-id=\"d9c6e03\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3ab5268 elementor-widget__width-initial elementor-widget elementor-widget-premium-chart\" data-id=\"3ab5268\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;type&quot;:&quot;doughnut&quot;,&quot;duration&quot;:500,&quot;format_locale&quot;:&quot;de&quot;,&quot;data_source&quot;:&quot;custom&quot;,&quot;data_type&quot;:&quot;linear&quot;,&quot;start_animation&quot;:&quot;easeInQuad&quot;,&quot;render_event&quot;:&quot;scroll&quot;,&quot;x_axis_label_size&quot;:12,&quot;x_axis_labels_size&quot;:12,&quot;x_axis_grid_color&quot;:&quot;#6ec1e4&quot;,&quot;x_axis_grid_width&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:1,&quot;sizes&quot;:[]},&quot;y_axis_label_size&quot;:12,&quot;y_axis_labels_size&quot;:12,&quot;y_axis_grid_color&quot;:&quot;#54595f&quot;,&quot;y_axis_grid_width&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:1,&quot;sizes&quot;:[]}}\" data-widget_type=\"premium-chart.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\r\n\t<div id=\"premium-chart-container-3ab5268\" class=\"premium-chart-container\" data-chart=\"[{&quot;label&quot;:&quot;Dataset #1&quot;,&quot;data&quot;:[&quot;14&quot;,&quot; 86&quot;],&quot;links&quot;:[&quot;&quot;],&quot;backgroundColor&quot;:[&quot;#9D535A&quot;],&quot;borderColor&quot;:&quot;#fff&quot;,&quot;borderWidth&quot;:0}]\" data-settings=\"{&quot;chartId&quot;:&quot;premium-chart-canvas-3ab5268&quot;,&quot;height&quot;:200}\">\r\n\t\t\t\t<div class=\"premium-chart-canvas-container\">\r\n\t\t\t<canvas id=\"premium-chart-canvas-3ab5268\" class=\"premium-chart-canvas\" width=\"400\" height=\"400\"><\/canvas>\r\n\t\t<\/div>\r\n\t\t\t<\/div>\r\n\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-43d9eaa elementor-widget elementor-widget-counter\" data-id=\"43d9eaa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t<div class=\"elementor-counter-title\">Add-on Acquisition<\/div>\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\"><\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"14\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-304c1c34 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"304c1c34\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-38faf093\" data-id=\"38faf093\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-371b1fc elementor-widget elementor-widget-spacer\" data-id=\"371b1fc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6743e593 elementor-widget elementor-widget-template\" data-id=\"6743e593\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"7581\" class=\"elementor elementor-7581 elementor-1803 elementor-1803\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-634c0f08 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"634c0f08\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-16fa1cdb\" data-id=\"16fa1cdb\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;background_motion_fx_motion_fx_mouse&quot;:&quot;yes&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-caa710b elementor-widget elementor-widget-spacer\" data-id=\"caa710b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4b97dea elementor-widget elementor-widget-heading\" data-id=\"4b97dea\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Solving succession<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-inner-section elementor-element elementor-element-d7e97e9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d7e97e9\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-0b24f69\" data-id=\"0b24f69\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-617930e elementor-nav-menu__align-justify elementor-nav-menu--dropdown-none elementor-hidden-tablet elementor-hidden-phone elementor-widget elementor-widget-nav-menu\" data-id=\"617930e\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;submenu_icon&quot;:{&quot;value&quot;:&quot;&lt;i class=\\&quot;\\&quot; aria-hidden=\\&quot;true\\&quot;&gt;&lt;\\\/i&gt;&quot;,&quot;library&quot;:&quot;&quot;},&quot;layout&quot;:&quot;horizontal&quot;}\" data-widget_type=\"nav-menu.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<nav aria-label=\"Menu\" class=\"elementor-nav-menu--main elementor-nav-menu__container elementor-nav-menu--layout-horizontal e--pointer-background e--animation-fade\">\n\t\t\t\t<ul id=\"menu-1-617930e\" class=\"elementor-nav-menu\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7454\"><a href=\"https:\/\/www.bpe.de\/en\/succession-solution\/\" class=\"elementor-item\">First questions<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7455\"><a href=\"https:\/\/www.bpe.de\/en\/planning-succession\/\" class=\"elementor-item\">Are the prerequisites right?<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7456\"><a href=\"https:\/\/www.bpe.de\/en\/types-of-investment\/\" class=\"elementor-item\">Types of investment<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7457\"><a href=\"https:\/\/www.bpe.de\/en\/transaction-process\/\" class=\"elementor-item\">Transaction process<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7458\"><a href=\"https:\/\/www.bpe.de\/en\/from-value-to-price\/\" class=\"elementor-item\">From value to price<\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t\t<nav class=\"elementor-nav-menu--dropdown elementor-nav-menu__container\" aria-hidden=\"true\">\n\t\t\t\t<ul id=\"menu-2-617930e\" class=\"elementor-nav-menu\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7454\"><a href=\"https:\/\/www.bpe.de\/en\/succession-solution\/\" class=\"elementor-item\" tabindex=\"-1\">First questions<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7455\"><a href=\"https:\/\/www.bpe.de\/en\/planning-succession\/\" class=\"elementor-item\" tabindex=\"-1\">Are the prerequisites right?<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7456\"><a href=\"https:\/\/www.bpe.de\/en\/types-of-investment\/\" class=\"elementor-item\" tabindex=\"-1\">Types of investment<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7457\"><a href=\"https:\/\/www.bpe.de\/en\/transaction-process\/\" class=\"elementor-item\" tabindex=\"-1\">Transaction process<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7458\"><a href=\"https:\/\/www.bpe.de\/en\/from-value-to-price\/\" class=\"elementor-item\" tabindex=\"-1\">From value to price<\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3692c75 elementor-nav-menu__align-center elementor-nav-menu--dropdown-none elementor-hidden-desktop elementor-widget elementor-widget-nav-menu\" data-id=\"3692c75\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;layout&quot;:&quot;vertical&quot;,&quot;submenu_icon&quot;:{&quot;value&quot;:&quot;&lt;i class=\\&quot;\\&quot; aria-hidden=\\&quot;true\\&quot;&gt;&lt;\\\/i&gt;&quot;,&quot;library&quot;:&quot;&quot;}}\" data-widget_type=\"nav-menu.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<nav aria-label=\"Menu\" class=\"elementor-nav-menu--main elementor-nav-menu__container elementor-nav-menu--layout-vertical e--pointer-background e--animation-fade\">\n\t\t\t\t<ul id=\"menu-1-3692c75\" class=\"elementor-nav-menu sm-vertical\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7454\"><a href=\"https:\/\/www.bpe.de\/en\/succession-solution\/\" class=\"elementor-item\">First questions<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7455\"><a href=\"https:\/\/www.bpe.de\/en\/planning-succession\/\" class=\"elementor-item\">Are the prerequisites right?<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7456\"><a href=\"https:\/\/www.bpe.de\/en\/types-of-investment\/\" class=\"elementor-item\">Types of investment<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7457\"><a href=\"https:\/\/www.bpe.de\/en\/transaction-process\/\" class=\"elementor-item\">Transaction process<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7458\"><a href=\"https:\/\/www.bpe.de\/en\/from-value-to-price\/\" class=\"elementor-item\">From value to price<\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t\t<nav class=\"elementor-nav-menu--dropdown elementor-nav-menu__container\" aria-hidden=\"true\">\n\t\t\t\t<ul id=\"menu-2-3692c75\" class=\"elementor-nav-menu sm-vertical\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7454\"><a href=\"https:\/\/www.bpe.de\/en\/succession-solution\/\" class=\"elementor-item\" tabindex=\"-1\">First questions<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7455\"><a href=\"https:\/\/www.bpe.de\/en\/planning-succession\/\" class=\"elementor-item\" tabindex=\"-1\">Are the prerequisites right?<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7456\"><a href=\"https:\/\/www.bpe.de\/en\/types-of-investment\/\" class=\"elementor-item\" tabindex=\"-1\">Types of investment<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7457\"><a href=\"https:\/\/www.bpe.de\/en\/transaction-process\/\" class=\"elementor-item\" tabindex=\"-1\">Transaction process<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-7458\"><a href=\"https:\/\/www.bpe.de\/en\/from-value-to-price\/\" class=\"elementor-item\" tabindex=\"-1\">From value to price<\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-65f81fa elementor-widget elementor-widget-spacer\" data-id=\"65f81fa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-e050caf elementor-widget elementor-widget-spacer\" data-id=\"e050caf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a668807 elementor-widget elementor-widget-heading\" data-id=\"a668807\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Other topics<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-inner-section elementor-element elementor-element-223ddd1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"223ddd1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-545d9dc\" data-id=\"545d9dc\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3b11f97 elementor-widget elementor-widget-eael-creative-button\" data-id=\"3b11f97\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--default eael-cb-icon-position-\" href=\"https:\/\/www.bpe.de\/en\/creating-mittelstand-businesses\/\" data-text=\"Go!\">\n            \t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">Divesting subsidiary companies<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-c9283cf\" data-id=\"c9283cf\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6407736 elementor-widget elementor-widget-eael-creative-button\" data-id=\"6407736\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--default eael-cb-icon-position-\" href=\"https:\/\/www.bpe.de\/en\/become-an-entrepreneur\/%20\" data-text=\"Go!\">\n            \t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">Become an entrepreneur<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-2ff9df7\" data-id=\"2ff9df7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-46131e6 elementor-widget elementor-widget-eael-creative-button\" data-id=\"46131e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--default eael-cb-icon-position-\" href=\"https:\/\/www.bpe.de\/en\/about-bpe\/\" data-text=\"Go!\">\n            \t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">Meet BPE<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n        \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-7bdcbe58 elementor-widget elementor-widget-spacer\" data-id=\"7bdcbe58\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13686d1 elementor-widget elementor-widget-spacer\" data-id=\"13686d1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Management Buy-out (MBO) Management Buy-in (MBI) Owners Buy-out (OBO) Buy-and-Build, Add-on Management Buy-out (MBO) Internal succession planning In a Management Buy-out (MBO), 100% of a company&#8217;s shares are sold to a newly founded holding company. BPE owns a majority stake in this holding company, while the existing executives or management members of the respective company&hellip;<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-7283","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.bpe.de\/en\/wp-json\/wp\/v2\/pages\/7283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bpe.de\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.bpe.de\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.bpe.de\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bpe.de\/en\/wp-json\/wp\/v2\/comments?post=7283"}],"version-history":[{"count":5,"href":"https:\/\/www.bpe.de\/en\/wp-json\/wp\/v2\/pages\/7283\/revisions"}],"predecessor-version":[{"id":10219,"href":"https:\/\/www.bpe.de\/en\/wp-json\/wp\/v2\/pages\/7283\/revisions\/10219"}],"wp:attachment":[{"href":"https:\/\/www.bpe.de\/en\/wp-json\/wp\/v2\/media?parent=7283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}