How to Find the Right Buyer for Your Company

When an owner begins thinking seriously about a potential sale, one of the most immediate questions is: Who could actually buy my company? And how do you identify the kind of buyer who not only pays a fair price but also fits the business culturally and strategically?

The overview below explains the main buyer groups in the DACH mid-market and how to determine which ones are relevant for your specific situation.

1. The main buyer groups in the mid-market

Strategic buyers (industry players)

These include competitors, suppliers or customers who gain synergies through integration. They often look for market access, technical capabilities, talent or specific customer relationships. If synergies are obvious, strategic buyers can justify higher valuations — but their internal decision-making is usually slower.

Financial investors (private equity / investment firms)

Financial investors look for profitable, well-structured companies with growth potential. Their goal is to drive value creation over several years, then exit. For owners who want a gradual transition instead of an immediate exit, structured participation models can be attractive.

Family offices

Family offices invest with a longer time horizon than typical PE funds. They prefer stable, predictable companies and often offer a calm, partnership-driven succession environment. Their relevance in the mid-market is frequently underestimated.

Management buy-outs (MBO) and buy-ins (MBI)

With an MBO, the existing management team acquires the company. With an MBI, an external manager or small team takes over. Both formats can be highly effective when continuity and cultural stability are priorities.

2. How to determine which buyer group fits

The best choice depends on your goals:

• Clear synergy potential → strategic buyers

• Strong profitability and scalable model → financial investors

• Long-term stability prioritized over maximum price → family offices

• Strong internal leadership → MBO

Most successful transactions start with a broad but qualified buyer set, not one or two isolated conversations.

3. Where suitable buyers actually come from

A structured buyer universe typically includes:

• direct and indirect competitors

• adjacent industry players

• PE funds investing in your revenue/EBIT bracket

• family offices with relevant industry exposure

• potential MBI candidates (experienced former CEOs/CFOs)

In many industries, a realistic universe ranges between 10 and 40 serious potential buyers. Owners who only approach one trusted contact often leave significant value on the table.

4. Preparing the essentials

Buyers expect clear and reliable information, including:

• company overview and business model

• historical financials and forward-looking assumptions

• rationale for the sale

• customer structure, processes and team overview

Quality of information plays a major role in how seriously buyers engage — and how smooth due diligence becomes.

5. Common misconceptions

• Cultural fit is as important as valuation.

• Too early disclosure of your company name can create internal uncertainty.

• A structured sale process takes several months — even with good preparation.

• Buyers compare multiple opportunities. Unclear or incomplete materials are a fast way to get deprioritized.

Conclusion

There is no single “right” buyer. The key is understanding your objectives, mapping the relevant buyer types and approaching the market with a structured, well-prepared process. That maximizes both value and stability in the eventual transition.