Reporting on Business Transfers and Acquisitions 2024 (Wallonie Entreprendre)

Summary

• A total of 519 business transfers involving accredited partners were recorded in Wallonia in 2024, an increase from 428 in 2023.p.6
• Small and medium-sized deals dominate the market, with 46% of transactions valued below €1 million and 80% below €5 million.p.4
• Business transfers in 2024 directly safeguarded at least 7,285 jobs across Wallonia.p.8
• The average EV/EBITDA valuation multiple in Wallonia dropped slightly to 5.7 in 2024 from 5.9 in 2023.p.14
• Buyer equity contribution averaged 39% of the transaction price in 2024, down from 43% in 2023.p.19
• Retirement remains the main motivation for business sales, accounting for 36% of cases in 2024.p.27

Key insights

1. The Wallonian business transfer market experienced strong activity in 2024, reaching 519 closed deals compared to 428 in 2023 despite fewer reporting experts.p.6
2. Deal closures are becoming faster, with 86% of transactions completing in less than one year and 43% in under six months.p.9
3. Services and Construction remain the most dominant sectors for business transfers, accounting for 22% and 16% of total operations respectively.p.12
4. Earn-out clauses were included in 14% of transactions (63 deals), representing on average 21% of the final transaction price.p.22
5. Wallonie Entreprendre directly supported 399 acquisition projects in Wallonia through €20,290,000 in subordinated loans and €59,980,000 in loan guarantees.p.26
6. Valuation multiples ranged widely by sector, from a high of 9.8 in Chemicals/Plastics to a low of 4 in the Wood industry.p.17