By Marcel Brix (BLOK Management GmbH) & Markus Fong (Just Finance GmbH) – published in LEBENSWERK Magazine

Why do viable succession deals in the German Mittelstand fall apart – even when buyer and seller have already agreed? The answer is rarely found in the company itself. More often, it lies in a structural financing gap: in the SME segment between €2 and €15 million enterprise value, regional banks hit regulatory limits while large commercial banks simply focus elsewhere.

In this article, Marcel Brix and Markus Fong examine how MBO and MBI candidates, private investor groups, and family business owners can navigate this gap – and why the early coordination of sell-side M&A advisory and buy-side debt advisory is one of the most decisive levers for a successful close.

Illustrated by a real-world case study: the successful succession of Laux & Meurers GmbH in Saarland, advised by BLOK on the sell side.