6–10 months
Management Buyout (MBO)
The existing management team buys the business from the owner, usually with debt.
When it fits
Founder is retiring; the management team is strong and lenders are willing to back them.
African & East African context
Relevant for established Kenyan SMEs where the founder is aging out but the business is solid and bankable.
Cap table impact
Existing owner exits; management + lender become new owners.