SME Succession & Search Fund Insights
What we're building, thinking, and exploring. Stay updated with our latest releases and thoughts.
Why Family Businesses in Europe Cannot Find Internal Successors
Most European SME owners want to hand their business to family. Most cannot. Here is why the successor gap exists, what it costs, and what structured external succession looks like in practice.
What Happens Between Handshake and Closing: The 90-Day Path from Term Sheet to Acquisition
From signed term sheet to closing day: the 90-day acquisition process explained for SME owners, including due diligence, financing, and what happens on day one.
The First 90 Days: How a New CEO Learns a Business They Just Bought
What a new CEO does in the first 100 days after buying a small business. The operational sequence, mapped against WAD Capital's 12-step CIR programme.
Why Some Founders Stay After Selling: The Case for Seller Reinvestment in SME Succession
Some founders reinvest in the company they just sold and stay involved. Here is how seller reinvestment works in SME succession, and why it changes the dynamic between buyer and seller.
What Happens to a Belgian Business When There Is No Succession Plan
Belgian SMEs employ 66% of the country's workforce. When ownership transfers fail, jobs go with them. What the data shows — and what a structured transfer looks like.
How WAD Capital Sources SME Acquisitions: The Deal Sourcing Strategy Behind the CEO-in-Residence Programme
WAD Capital sources SME acquisitions off-market through Generative DealFlow™ and a structured 12-step programme. Here is how the sourcing approach works.
What Is a CEO-in-Residence Programme? How It Works in Europe
A CEO-in-Residence acquires and runs a European SME with institutional backing. Learn how WAD Capital's programme works: equity, financing, timeline, and process.
What Is Entrepreneurship Through Acquisition and Is It Right for Europe?
ETA lets experienced executives acquire and lead profitable SMEs instead of building from scratch. Here is how the model works, what the data shows, and why Europe is the next frontier.
How Buy-and-Build Strategy Works in Fragmented European SME Markets
How buy-and-build strategy creates value in fragmented European SME markets — and what WAD Capital's Kaeron and OmniSecur platforms show about executing it in practice.
WAD Capital x Herspective
WAD Capital partnered with Herspective for a live private equity case session in Brussels. Watch the full video and apply for the internship programme.
What Makes a Sector Right for Acquisition? How CIRs Build Their Investment Thesis
Four criteria separate acquisition-ready sectors from wishful thinking. How WAD Capital CIRs build investment theses — and what the portfolio proves.
How Search Funds Generate Returns for Investors
The 2024 Stanford GSB Search Fund Study records a 35.1% aggregate IRR across 681 funds since 1984. Here is what drives those returns, where the international data diverges, and how WAD Capital's cohort structure addresses the gap.
What Makes WAD Capital Different from Standard Private Equity?
WAD Capital operates as private equity in Belgium where standard buyout funds do not go: profitable SMEs with no succession plan. Here is how the model works and what it produces for sellers, operators, and investors.
We Bought Three Belgian Companies in 90 Days. Here Is What We Learned.
WAD Capital closed three Belgian SME acquisitions in 90 days. Christopher Tournis Gamble on what worked, what was hard, and what the sellers taught the team.
The First 90 Days: Managing People When You Take Over an SME
Taking over an acquired SME is as much a human challenge as an operational one. A practical guide for CEOs-in-Residence on managing the people dynamics of the first 90 days post-acquisition.
Selling Your Business in Belgium: What Retiring Founders Actually Need to Know
A plain-language guide to the five exit options available to retiring Belgian SME owners, with an honest assessment of what each route means for your business, your people, and your legacy.
What Female Entrepreneurs Should Know About the European SME Succession Crisis
Female entrepreneurs are almost absent from European ETA. WAD Capital's Cohort 2026 is open to women executives ready to acquire and lead a profitable SME.
Why We Replaced ESG With CARE-PROFIT: What Changed and Why It Matters for Your SME
ESG frameworks were built for listed companies. WAD Capital designed CARE-PROFIT for Belgian SMEs facing succession. Here is what changed and why it matters.
Is Your Business Ready for Succession? What the Process Actually Looks Like
Most SME owners start succession planning too late and sell to the wrong buyer. Here is what a structured SME succession process looks like, and how WAD Capital approaches it differently.
Why Entrepreneurship Through Acquisition Takes 20 Months? (and How to Cut That in Half)
According to Stanford GSB, the median acquisition takes 20 months. Learn why solo searchers struggle with infrastructure and how WAD Capital’s CEO-in-Residence program accelerates the path to ownership in 9–15 months.