Some of our lawyers have more than 20 years of experience in negotiating M&A transactions, whether in Belgium or at international level. We also advise clients on all issues of corporate law such as directors’ liability, conflict of interest, shareholder relations and corporate governance.
Our Corporate/M&A practice has been consistently recommended by the leading legal directories such as Chambers and Partners (Band 3), Legal 500 EMEA (Tier 3), Leaders League and Who’s Who Legal. Most of our partners are also individually ranked in these directories.
MERGERS & ACQUISITIONS
We have a pre-eminent M&A practice, both in Belgium and at international level. Strelia’s M&A work extends across various sectors, and we have specific expertise in retail, food, energy and the financial sector; however, Strelia also focuses on Tech M&A.
Our scope of activity is considerable, ranging from very large multi-jurisdictional transactions on shares to the disposition of individual assets and businesses. We also advise parties on public take-overs. We cover all aspects of M&A transactions, from (vendor) due diligence to closing and beyond, if necessary (see our corporate litigation practice for post-acquisition action plans).
Our tax and employment specialists provide expert input to our M&A transactions to enable us to advise our clients on deal structures from the various relevant angles.
PRIVATE EQUITY AND VENTURE CAPITAL
Strelia has developed a strong Private Equity and Venture Capital practice.
We advise domestic and international investors – targeting companies, their management or the existing shareholders – on all types of capital investment transactions (MBO, LBO, etc.).
We also have specific expertise in the biotechnology sector: we advise investment funds and target companies regularly throughout the entire lifecycle of their investments, from the initial investment in the target to exit.
JOINT VENTURES
Our lawyers advise on various forms of cooperation between companies, including the set-up and regulation of joint ventures.
DUE DILIGENCE
Our teams are trained to carry out due diligence, whether as a vendor or as a purchaser in M&A transactions or in other situations (investment, IPO, financing, etc.). If required, we call upon other experts in whom we trust and with whom we are very familiar for assistance with specific branches of law, such as IP and environment.
CORPORATE GOVERNANCE
Strelia advises public and private companies, boards of directors, committees and senior management bodies on corporate governance best practices, salaries, indemnification and insurance, conflicts of interests, internal investigations, defensive mandates and crisis management. We help our clients to manage risk proactively, seize opportunities and maintain productive shareholder relations.
CAPITAL MARKETS
We assist clients in equity and debt capital market transactions, including initial public offerings, admission to trading, mergers, delistings and bond issues. We also assist them with the regulations that apply to listed companies.
ADVISORY
Besides transactional work, we provide guidance to our clients and assist them with all corporate legal issues, such as directors’ liability, shareholder rights, corporate organisation, etc.
NON-PROFIT ORGANISATIONS
We have various non-profit organisations among our clients. We advise them on the specificities of their legal form and objectives, including those relating to transactions that concern them (transfers, mergers, etc).
Our firm is often involved in distressed M&A transactions, i.e. acquisitions or disposals of companies or businesses experiencing financial difficulties due, in particular, to large amounts of debts, illiquidity or inadequate employment structures. Sometimes the companies involved face insolvency or are already bankrupt. Distressed M&A transactions offer the buyer opportunities to take over all or part of a viable business for an attractive price with the possibility to restructure the business (including from an employment point of view) and turn it around.
Tools provided by the insolvency law are very helpful to restructure a business within its actual corporate structure or restructure the business through an asset or share deal combined with the restructuring of the corporate, financial or employment structure.
Standard M&A deals and distressed M&A differ from the point of view of timing, scope of the due diligence, risk taken by the buyer and financial conditions of the deal. Due to the financial difficulties faced by the target, the purchaser will be required to be prepared to move at pace, depending on the level of distress of the target. The due diligence will often have a limited scope for two main reasons: the need to act swiftly and the fact that, as the case may be, the corporate structure will change (which limits the risk of liabilities linked to the corporate entity). With regard to the risk taken by the parties, the standard “negotiation” of the risk between purchaser and seller will differ since negotiated protections such as representations and warranties etc. may not work, the seller being unable to stand behind them.
In distressed M&A transactions, insolvency proceedings can be used. They often imply third parties such as an insolvency practitioner or secured creditors. Therefore, the success of the deal will require to take these parties’ interests and concerns into consideration.
Anticipating the particular features of distressed M&A transactions’ issues in a deal-oriented manner enables smoother transactions and allows buyers to mitigate their risk and maximise the opportunities offered by distressed M&A transactions.
WHAT STRELIA OFFERS
Our Restructuring & Insolvency and Corporate M&A practice groups cooperate to advise both sellers and purchasers of distressed companies or businesses in both out of court and in court transactions. Our experienced lawyers assess, negotiate, and adopt strategies to drive transactions to completion. Employment issues are often an important element of such transactions, where our Employment & Benefits team is involved.
Our Restructuring and Insolvency practice group often acts as an insolvency practitioner (gerechtsmandataris – mandataire de justice) in judicial reorganizations by transfer of undertakings and as a bankruptcy practitioner (curator – curateur) and benefits from a large experience in that matter. This specific feature guarantees the involvement of advisers familiar with distressed M&A transactions involving court proceedings and well informed of the working of the courts. Our team can therefore anticipate critical points of such deals, such as the reaction of creditors, the stance taken by an insolvency practitioner appointed or the restructuring of the target.
MEMBERS OF THE TEAM
Partners
Associates
Recognitions
Legal 500 2024 - Corporate and M&A : Private Equity
The ‘pragmatic and knowledgeable‘ team at Strelia advises private equity and venture capital funds as well as their portfolio companies on a wide range of transactions, financing rounds, and (re)investments, focusing heavily on regulated sectors such as life sciences and tech. Under the leadership of Gisèle Rosselle, the team handles the due diligence and negotiation aspects of a growing volume of cross-border M&A, frequently with the firm’s integrated employment and real estate capabilities to provide comprehensive regulatory advice. Further key contacts include transactional experts Katrien Vorlat and Laurent Verhavert.
The team is very responsive, pragmatic, knowledgeable and available despite their busy practice. For us, in short, the go-to firm in Belgium!’
‘We work with Gisèle Rosselle and Céderic Devroey a lot in cross-border M&A transactions with a Belgian angle and know that we can count on them. That they will be available to deliver on time clearly and practically. They are real service providers who go the extra mile for their clients and co-counsel.’
‘The strength is to have a single point of contact who is connected to their internal team and ensure optimal communication between departments depending on the needs.’
‘We are working mainly with Laurent Verhavert. Laurent is clear, easily available, professional and pragmatic. I am extremely happy about the interactions because I know that I will have a constructive answer in a short time frame.’
‘Gisèle Rosselle and her PE team are responsive, pragmatic and easily adapt to the wishes of the client. They take responsibility and are proactive. It is a pleasure to work with them.’
‘Gisèle Rosselle is a partner on which you can rely. She and the quality of her work are above par. She is very responsive and proactive.'
Legal 500 2024 - Commercial, Corporate and M&A
Strelia combines contentious and non-contentious capabilities in its corporate offering, which allows the team to comprehensively advise a large number of large Belgian and international companies in the life sciences, TMT, and energy sectors on strategic transactions, divestments, joint ventures, and post-M&A claims. Under the leadership of M&A and private equity specialist Gisèle Rosselle, the practice regularly collaborates with international partners to advise on multi-jurisdictional deals and is also prolific in handling Belgian mid-market transactions. Other key members of the team include managing partner Olivier Clevenbergh, who is noted for his expertise in corporate disputes, and M&A and joint venture expert Katrien Vorlat.
‘The team is close-knit, very responsive, and available despite their busy practice.’
‘Gisele Rosselle and Céderic Devroey go the extra mile for their clients and co-counsel.’
‘Proactive approach in M&A from the team.’
‘Known for its flexibility, completeness, and client-centric service.’
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
More insights- Strelia appoints Julie Lo Bue as Partner
- Last week, Gisèle Rosselle led the Legal Module for VC investments at the BMI Executive Institute half-day workshop
- Etienne de Crépy hosted a training on Securitization for Finix Events on 26 November 2024
- AIJA - International Association of Young Lawyers Half-Year November Conference this week, from 13 to 16 November 2024 in Luxembourg
- Strelia's Luxembourg office recognized in several categories in the newest Leaders League rankings