Kontrimo CEO Michel Van den Brande, 64, is selling his scaffolding company, which operates in the Belgian market.
Van den Brande confirmed the news to Belga News Agency after it was reported by Het Nieuwsblad, Gazet van Antwerpen, and Het Belang van Limburg on Friday. He expects the deal to be finalised by early May and will remain active in the company for a while.
Kontrimo, which employs 120 people, has an annual turnover of €13 million.
Van den Brande revealed that the company had been up for sale for some time.
The entire company is currently under review, a standard procedure for a sale of this magnitude.
Van den Brande does not anticipate immediate issues but noted that the money has yet to be transferred.
The identity of the buyer remains undisclosed.
