Management Buy-Outs and Buy-Ins are one of the primary drivers for M&A activity globally, especially in the SME sector where mainstream banks (at least in the UK) have had a much smaller role in deal finance since the 2008 crash. The position of the management team in an MBO is a difficult one – they are the primary driver of the success of the new business, but they will be expected to have some “skin in the game” and the amount of risk they are expected to assume in respect of their personal finances can feel uncomfortable. We have extensive experience of guiding management teams through the buy-out process.