The appropriate context for an MBO:

• Target company
• Proven profitability
• Strong position on its markets
• Potential for growth
   
• Change in ownership
• Transmission of a family business
• Spin-off from an industrial group
• Private equity investor realizing its investment
• No more rationale for being a public company (“P to P”)

Main actors in an MBO:

• The management team : existing (MBO), new (MBI) or both (BIMBO)
• Motivation
• Track record
• Financial commitment
   
• The financial sponsor (private equity investor)
• Equity
• Financial engineering
• Advisory and monitoring