De praktijkgroep Vennootschapsrecht / Fusies & Overnames is een van de kernpraktijken van Strelia. Wij adviseren onze binnen- en buitenlandse cliënten over alle vennootschapsrechtelijke kwesties zoals bestuurdersaansprakelijkheid, belangenvermenging, de relatie met aandeelhouders en corporate governance. De kwaliteit van het werk van onze advocaten en de dienstverlening aan onze cliënten voldoet aan internationale normen. Onze transactievaardigheden in combinatie met onze ervaring op het vlak van geschillenbeslechting helpen onze cliënten om hun transacties te sturen.
Onze praktijkgroep Vennootschapsrecht/Fusies & Overnames wordt standaard aanbevolen door toonaangevende juridische gidsen waaronder Chambers and Partners (Band 3), Legal 500 EMEA (Tier 3), Leaders League en Who's Who Legal. De meeste van onze partners zijn ook individueel gerangschikt in deze gidsen.
FUSIES & OVERNAMES
Strelia's M&A werkzaamheden strekken zich uit over verschillende sectoren en we hebben specifieke expertise in de detailhandel, voeding-, energie- en de financiële sector. Strelia richt zich ook op Tech M&A
De dienstverlening van onze praktijk beslaat een brede waaier aan expertisedomeinen, van zeer grote multi-jurisdictionele transacties op aandelen tot de vervreemding van individuele activa en ondernemingen. Ook adviseren wij partijen over publieke overnames. Wij behandelen alle aspecten van fusie- en overnametransacties, van de (vendor) due diligence tot en met de closing en indien nodig de verdere stappen daarna (zie onze corporate litigation praktijk voor rechtszaken na de overname).
Onze specialisten Tax en Employment leveren een deskundige inbreng in onze fusie- en overnametransacties, zodat wij onze cliënten vanuit verschillende relevante invalshoeken kunnen adviseren over de structuur van de transacties.
Strelia's M&A werkzaamheden strekken zich uit over verschillende sectoren en we hebben specifieke expertise in de detailhandel, voeding-, energie- en de financiële sector. Strelia richt zich ook op Tech M&A.
PRIVATE EQUITY EN DURFKAPITAAL
Strelia heeft een sterke praktijk ontwikkeld op het vlak van private equity en durfkapitaal.
Wij adviseren nationale en internationale investeerders, doelondernemingen, hun management of de bestaande aandeelhouders, bij alle soorten kapitaalinvesteringen (MBO, LBO, enz.).
We hebben ook specifieke expertise in de biotechnologische sector: we adviseren beleggingsfondsen en doelondernemingen regelmatig gedurende de gehele cyclus van hun investeringen, vanaf de initiële investering in het doelwit tot en met de exit.
JOINT VENTURES
Onze advocaten adviseren over verschillende vormen van samenwerking tussen bedrijven, waaronder het opzetten en reguleren van joint ventures. Voor onze specifieke ervaring in franchising, zie .... [link]... [link]
DUE DILIGENCE
Onze teams zijn getraind om due diligences uit te voeren, als verkoper of als koper bij fusie- en overnametransacties of in andere situaties (investeringen, IPO, financiering, enz.). Indien nodig doen we een beroep op andere deskundigen die we vertrouwen en goed kennen met betrekking tot specifieke rechtsgebieden, zoals IP en milieu.
CORPORATE GOVERNANCE
Strelia adviseert publieke en private ondernemingen, raden van bestuur, commissies en senior management over corporate governance beste praktijken, salarissen, schadeloosstelling en verzekering, belangenconflicten, interne onderzoeken en crisismanagement. Wij helpen onze cliënten risico's proactief te beheren, kansen te grijpen en productieve aandeelhoudersrelaties te onderhouden.
KAPITAALMARKTEN
Wij staan onze cliënten bij in aandelen- en schuldkapitaalmarkttransacties, met inbegrip van beursintroducties, toelating tot de handel, fusies, schrapping van beursnoteringen en obligatie-emissies. Ook staan wij hen bij met betrekking tot de regelgeving die van toepassing is op beursgenoteerde ondernemingen.
ADVIESVERLENING
Naast transactioneel werk begeleiden wij onze cliënten en staan wij hen bij in alle vennootschapsrechtelijke kwesties, zoals bestuurdersaansprakelijkheid, aandeelhoudersrechten, bedrijfsorganisatie, enz.
NON-PROFIT ORGANISATIES
Wij hebben verschillende non-profit organisaties onder onze cliënten. Wij adviseren hen over de specifieke kenmerken van hun rechtsvorm en doelstellingen, met inbegrip van deze met betrekking tot transacties die hen aangaan (overdrachten, fusies, enz.).
Ons kantoor is vaak betrokken bij transacties van vennootschappen in moeilijkheden. In het algemeen gaat het om overnames of verkopen van ondernemingen die in financiële moeilijkheden verkeren door, onder andere, een grote schuldenlast, een gebrek aan liquiditeit of ontoereikende arbeidsstructuren. Soms worden de betrokken ondernemingen geconfronteerd met insolventie of zijn ze reeds failliet. M&A transacties van ondernemingen in moeilijkheden bieden de koper kansen om een levensvatbare onderneming geheel of gedeeltelijk over te nemen voor een interessante prijs met de mogelijkheid het bedrijf te herstructureren, met inbegrip van een herstructurering van de werkgelegenheid.
De instrumenten van de insolventiewetgeving kunnen zeer nuttig zijn om een onderneming te herstructureren binnen zijn huidige bedrijfsstructuur of om het bedrijf te herstructureren via een activa- of aandelentransactie in combinatie met de herstructurering van de bedrijfs-, financiële of werkgelegenheidsstructuur.
Standaard M&A-transacties en M&A-transacties met betrekking tot vennootschappen in moeilijkheden verschillen wat betreft de timing, de omvang van de due diligence, het door de koper genomen risico en financiële voorwaarden van de overeenkomst. Als gevolg van de financiële moeilijkheden waarmee de doelwitvennootschap te kampen heeft, zal de koper bereid moeten zijn snel te handelen, afhankelijk van de mate waarin de doelwitvennootschap in moeilijkheden verkeert. De due diligence van ondernemingen in moeilijkheden zal vaak beperkt zijn, om twee belangrijke redenen: de noodzaak om snel te handelen en het feit dat vaak de bedrijfsstructuur zal veranderen. Dit kan het risico van resulterende aansprakelijkheden in verband met de bedrijfsentiteit beperken. Wat het door de partijen genomen risico betreft, zal de standaard "onderhandeling" over het risico tussen de koper en verkoper verschillen, aangezien onderhandelde beschermingen zoals verklaringen en garanties enz. mogelijk niet werken omdat de verkoper die niet kan aanbieden.
Bij fusies en overnames van ondernemingen in moeilijkheden kan het gebruik van insolventieprocedures nuttig zijn. Daarbij zijn vaak derden betrokken, zoals een curator of bevoorrechte schuldeisers. Voor het welslagen van de transactie zal dan ook rekening moeten worden gehouden met de belangen en bezorgdheden van deze partijen.
Door doelgericht te anticiperen op de specifieke kenmerken van de problemen van M&A-transacties van ondernemingen in moeilijkheden kunnen transacties soepeler verlopen en kunnen kopers hun risico beperken. Zo maximaliseren zij de kansen die M&A-transacties van ondernemingen in moeilijkheden bieden.
WAT STRELIA BIEDT
Onze praktijkgroepen Restructuring & Insolvency en Corporate M&A werken samen om zowel verkopers als kopers van ondernemingen in moeilijkheden te adviseren bij zowel buitengerechtelijke als gerechtelijke transacties. Onze ervaren advocaten beoordelen, onderhandelen en stellen strategieën vast om transacties tot een goed einde te brengen. Arbeidskwesties vormen vaak een belangrijk element in dergelijke transacties, waarvoor onze praktijkgroep Employment & Benefits tussenkomt.
De leden van onze praktijkgroep Restructuring & Insolvency nemen vaak het mandaat op van gerechtsmandataris en curator, en kunnen rekenen op een ruime ervaring. Onze cliënten hebben het comfort te beschikken over adviseurs die vertrouwd zijn met fusies en overnames van noodlijdende ondernemingen, al dan niet door middel van gerechtelijke procedures, en die goed vertrouwd zijn met de werking van de rechtbanken. Ons team kan daarom anticiperen op kritieke punten van een dergelijke transactie, zoals de reactie van schuldeisers, de aanstelling en het standpunt van een curator of de realisatie van de herstructurering van de doelwitvennootschap.
LEDEN VAN HET TEAM
Partners
Associates
Recognitions
Legal 500 2023 - Private Equity
Strelia predominantly handles mid-market private equity and venture capital transactions, advising funds ranging from major buyout houses through to individual investors, as well as target companies, on deals and associated regulatory issues. The firm has a strong record in the life sciences and tech spaces, and accordingly regularly advises on early-stage financing and venture capital investments. Gisèle Rosselle, active in the tech space, leads the team alongside Laurent Verhavert. Katrien Vorlat is also a popular choice for international PE fund clients.
‘Strelia’s Corporate M&A team, and in my view especially if Gisele Rosselle and Cederic Devroey are involved, is truly professional in their responsiveness, knowledge, experience with private equity transactions. If we do a cross border transaction with various firms abroad they stand out in their approach. A very hard working and capable team. They innovate and have state-of-the-art systems, e.g. digital signing, billing.’
‘I predominantly work with Gisele Rosselle and Cederic Devroey. Gisele is a very smart and pleasant person. She is a great communicator and very skilled lawyer. She clearly cooperates with Cederic on a daily basis and they form a very hard working and capable team. If we have a transaction with an angle in Belgium, they are definitely the go to for us.’
‘They respond very quickly to my questions. Documents that urgently need to be checked are never a problem.’
‘Very hands on, on the ball and responsive. Truly a safe pair of hands to have on your side in a transaction.’
‘Good knowledge of the market; clear and incisive advice; commitment to timelines; reasonably priced.’
Legal 500 2023 - Commercial, Corporate and M&A
Strelia advises on M&A, private equity investments, and associated regulatory and contentious work, with particular strength in regulated industry transactions, including TMT, energy, and life sciences deals. The firm’s boutique setup sees it regularly handling inbound and outbound work for cross-border clients and law firms, with a successful record in multi-jurisdictional deals. The team is led by Olivier Clevenbergh, who advises on domestic and international M&A and corporate governance issues. Katrien Vorlat advises on M&A and joint ventures, and Gisèle Rosselle handles private company transactions and private equity deals, while Laurent Verhavert specialises in private equity work.
‘It is a firm that offers a full range of services to companies and knows its clients.’
‘Highly skilled team led by an impressive leader. Multi-skilled in numerous areas. A particular strength is that they have a practical, commercial viewpoint which is very good for clients to make progress with the transaction quickly and successfully.’
‘We have worked with Gisèle primarily, and her team. Highly responsive, highly skilled and commercial, leading to innovative and practical advice and outcomes.’
‘They take the time to fully understand our needs. Always working to our deadlines. Very honest and open conversations.’
‘Highly skilled law specialists who go beyond the legal aspects. They understand the business environment and are able to help develop the company strategy & tactics.’
‘Gisèle Rosselle is involved and able to quickly understand our needs. She’s very available, which is highly appreciated since when we need advice it’s generally urgent.’
‘The overall co-operation is successful. The services provided are prompt and of high quality. At the same time, they have deep knowledge and unique expertise at commercial/corporate law issues. Overall, a strong devoted team of professionals who really care about client’s needs. Their collaboration is outstanding.’
‘I must commend Gisèle Rosselle and Céderic Devroey for their attention to detail, quick turnaround and response times. Both of them have been brilliant to work with, extremely approachable and super helpful in getting us to where we need to be. I cannot recommend either of them highly enough.’
Chambers Europe 2023 - Corporate and M&A
"The response times are very good and the level of knowledge is very high."
"The lawyers have a very hands-on approach and always make themselves available."
Legal 500 2022 - Private Equity
Strelia advises Belgian and domestic private equity and venture capital funds, institutional investors, and target companies on private equity acquisitions, exits, and investments, with a growing profile in cross-border deals in collaboration with its Luxembourg office. Areas of strength include the tech and innovation sector, particularly biotech. The practice is headed up by Gisèle Rosselle, an active PE and VC adviser who specialises in tech sector investments and cross-border investments, alongside Laurent Verhavert . Katrien Vorlat joined from Monard Law in September 2021 and has a strong record in international transactions.
‘Strong commitment of the team across the whole process of the acquisition we were contemplating, from LOI review to SPA specific/technical points negotiation.’
‘Highly available, they know very well their case and have a deep knowledge of the rules that make them solid and efficient partners while negotiating on critical items of a transaction.’
‘Gisèle and her team are highly-skilled professionals with strong attention to detail and they know very well their topics. They assisted us under a complicated transaction which we managed to realize thanks to their incredible energy, skills and commitment.’
‘They provide solutions that secure the position of their client taking into account multiple factors and negotiation standpoints.’
‘Gisèle always makes herself readily available – after office hours. Assistance is there when required. Much appreciated.’
Legal 500 2022 - Commercial, Corporate and M&A
Strelia is a boutique focused on corporate transactional and advisory work, alongside contentious matters. The team advises prolifically on domestic M&A, and is increasingly active on cross-border deals, with the M&A offering bolstered by the arrival of Katrien Vorlat from Monard Law in September 2021. Alongside its corporate work, practice head Olivier Clevenbergh has a strong specialism in the retail sector, advising major European players on commercial agreements and operational issues. Gisèle Rosselle handles domestic and cross-border deals, with a particular focus on the tech sector.
‘Strelia’s Corporate M&A team is very experienced. They stand out in customer service and efficiency. Although they are very hands on and thorough in their work, they always manage to control cost development. It is a very hard working team. Flexible and always available.’
‘They are at the forefront of adopting relevant technology. For example they used a digital signing tool well ahead of peers in Belgium. Great international network.’
‘Stand out partner is Gisele Rossele. She is a true professional. She is really focussed on the matters at hand, involved and is great in building good relationships. In-depth knowledge. Charismatic, outstanding and very pleasant to work with. Always delivers.’
‘Strelia really focusses on the clients’ needs and is always one step ahead (while considering multiple options).’
‘Gisèle Rosselle made herself available throughout the process, during business hours and after business hours. Always flexible towards the client and others involved in the process. Not only advising the solution, but also the way to present it.’
‘The team is fully efficient and works extremely well with the client. Team members are also very flexible and available and take on their role to the end even when it goes on very late into the night because of the needs of the case. Each member of the team has his or her own personality and experience, which allows the client to benefit from a wide range of services.’
‘We worked with Olivier Clevenbergh and Julie Lo Bue: very high quality services.’
‘The team of Strelia is always available for all our questions. Very good collaboration and high quality of service.’
Chambers Europe 2022 - Corporate and M&A
Strelia is well noted for its activity in both cross-border and domestic mid-cap transactions. The team offers experience acting on transactions for clients in the financial services, energy and airline sectors. Lawyers at the firm offer expertise assisting clients with investments, auction sales, restructurings and commercial agreements.
"The level of partner involvement at Strelia is very impressive, which is something I am very positive about" says one client.
Clients are "very impressed" by Gisèle Rosselle , adding that "she is always to the point, knows files inside and out" and is "very solution-oriented." She offers experience advising on auction sales and private investments, acting for clients in the financial services and engineering sectors.
Clients say that they "are really happy with" Olivier Clevenbergh and emphasise his ability on commercial and corporate agreements. He is also highly experienced advising on restructuring and M&A transactions.
IFLR1000 2021
Our M&A Practice is ranked Tier 4
Highly regarded: Olivier Clevenbergh
Legal 500 2021 - Private Equity
Gisèle Rosselle leads Strelia's team in Brussels, which is particularly noted for its work in the biotech sector, where it has a strong profile acting for life sciences investment funds and Belgian biotech companies. Elsewhere, the firm is also engaged in transactions involving other industries, such as manufacturing, technology and chemicals. In 2019, Laurent Verhavert acted for German investment fund JOIN Capital on a Series B private equity investment in Belgian tech company Proxyclick, alongside Five Elms Capital. Also notable is that the successful growth of the firm's private equity offering in Belgium has led to it opening an office in Luxembourg.
Next Generation Partner: Laurent Verhavert
‘Strelia is a very good independent Belgian law firm that is perfectly adapted for international deals when targets are in Belgium. The corporate team has high technical skills, is very responsive and easy to work with.’
‘We mainly worked with Gisèle Rosselle and her team. Gisèle is extremely competent, responsive and understands the business aspects of transactions. She is very pleasant to work with.’
Legal 500 2021 - Commercial, Corporate and M&A
Corporate boutique Strelia, which undertakes a mix of transactional and contentious work, has particular strengths in matters connected with the retail, financial services and food sectors. It is also increasingly making a name for itself in the biotech sector. In addition to handling domestic work, the firm is also sought out in cross-border deals. The practice is led by Olivier Clevenbergh, who led the advice to French film company Pathé on its acquisition of the Euroscoop group in 2019. Elsewhere, the team advises clients on joint ventures, and private equity and venture capital transactions, among other matters. Gisèle Rosselle and Laurent Verhavert are also recommended.
‘Strelia is a “small” practice, led by accessible and friendly partners. The team is constituted of result-driven, proactive and enthusiastic lawyers.‘
‘Strelia provides a first-class and world-class M&A legal service and negotiation support while being very reactive and affordable for start-ups / scale-ups which is unique in the market.‘
‘We mainly work with Olivier Clevenbergh. What we appreciate in him is that he does not only advise on the legal issues but gives a broader guidance in the way we should make our deals, without being too intrusive.‘
‘I believe the manner in which Gisèle Rosselle approached us as a client and her approach to leading the negotiations can be summarized as: pragmatic if possible but firm and relentless on material items.‘
‘We mostly work with Gisèle Rosselle for our M&A projects and she is doing a great job in delivering accurate and timely work but also in thinking together with us in finding solutions to issues that arise. She knows our business very well.‘
‘Gisèle is straightforward and to the point, and is a good negotiator.‘
‘Reliable and accurate.‘
Chambers Europe 2021 - Corporate and M&A
Recognised practice noted for its work on both domestic and cross-border mid-cap M&A transactions, including auction processes. Frequently advises on matters in the retail and pharmaceutical sectors. Popular with private equity and venture capital clients.
One interviewee attests that the team is "knowledgeable and available."
A client comments that the lawyers are "extremely proactive and go the extra mile."
One client attests: "Gisèle Rosselle is a perfect additional player to have at the negotiating table - she knows when to hold back and when to bring certain things forward."
One client comments that Olivier Clevenbergh is "very competent, rigorous, reliable and a good adviser."
Another interviewee adds that Olivier Clevenbergh has "a fast understanding of the situation, is a good adviser and can take care of every part of the sale and discussion."
OUR PARTNERS
Related insights
Meer actualiteit- Welcome Elisa !
- Strelia Corporate and M&A Newsflash - April 2024
- Katrien Vorlat will be a speaker at the upcoming ABA Business Law Spring Meeting 2024
- Julie Lo Bue and Céderic Devroey organized a webinar on the topic of “Navigating Sustainability under Corporate Law”
- Strelia recognized by the Legal 500 in its 2024 Rankings