Business transfers in Wallonia : search funds model, a financial scheme for Wallonia ?

Abstract

This thesis aims to provide a new way of conducting business transfers. The search fund model, created in the 1980s by H. Irving Grousbeck, enables an entrepreneur, here entitled the searcher, to buy a company whose owner wants to sell. Investors invest in a specific entrepreneur rather than a special business. This investment vehicle is mostly used in the USA and Canada and demonstrates impressive returns for investors in those markets. The aim of this thesis is to assess if this model could be implemented in the specific market of Wallonia and provide content for further discussion on this subject.