At Norte Partners, Kathryn and Carlos’s “Norte” (i.e., North star) has been clear from the start: to acquire values-driven businesses with the potential to shape fundamental aspects of society. A mission that is intrinsically tied to the nature of family businesses; enterprises defined by their grit, resilience, and stewardship. all values that are also reflected in the very family Kathryn and Carlos are building themselves.

Focusing on family business means engaging with the very backbone of the economy. In the UK, 93% of all private firms are family-owned, while in Belgium more than 84% of companies fall into this category, one of the highest rates in Europe. Together, these Belgian family-owned businesses generate roughly one-third of the nation’s GDP and provide nearly 40% of all jobs, underscoring their fundamental role in Belgium’s economic and social development.

It is that very worth and strength of family businesses that makes acquiring them both complex and exciting. Buying a long-standing family enterprise means inheriting legacies, a customer base built under a different vision, assets that have been cherished for decades, and a name deeply rooted in the local community and industry. Maurits Taelman, CEO of Taelman Hout, a Belgian wood products company, knows this first-hand. Ten years ago, he acquired his current business from a second-generation founding family with more than 40 years in Belgium’s wood market. Now a decade later, he reflects on his journey from the acquisition to transition, operating as a one-man band, and ultimately growing the business with an  expanded team. 

Acquisition & Transition 

Maurits grew up immersed in the wood business, spending his childhood running between racks and stacks at his grandfather’s sawmill. Encouraged by his grandmother and guided by two uncles with decades of experience in the industry, he spent his summers working in their workshops, learning the trade and developing a genuine passion for wood.

In his final year at university, an opportunity emerged through his family network: a wood shop for sale in a strategically ideal location. At just 23 years old, Maurits did not overthink it, he signed the contract before even graduating. The business was owned and managed by two brothers, sons of the original founder, whose identity was deeply intertwined with the company, having worked there since a young age. One brother had no children, and the other had three daughters who were not interested in continuing the wood trade. A powerful testament to the family’s deep connection to the business came upon the founder’s passing, when his final wish was to take “one last walk” through the workshop in his coffin.

Although the company was still generating results, it  had not kept up with the times. There was no unified pricing system, no ERP, invoices were still handwritten, and as recently as a few years prior, orders were still arriving by fax. Maurits saw the potential to modernize operations and boost efficiency.

For six months, he worked alongside the brothers in a handover process, gaining invaluable knowledge by observing  their  management styles. It was a sensitive and challenging time for everyone, as the founders confronted the reality of handing over the company that had defined their lives. During this period, Maurits openly questioned why things were done the way they were and his fresh perspective allowed him to identify some potential positive changes to streamline and professionalize operations. By the end of the transition, he was ready to take on the sellers’ legacy and take the company to the next level.

One-man band

The early days were exciting but exhausting. With no employees, Maurits wore every hat: waking up at 5 a.m. to load and deliver orders himself, working full office hours to manage sales and administration,then loading the truck again for an evening delivery run, often returning home close to midnight, only to repeat it the next day.

This experience gave him a deep appreciation for every role in the company. Today, with a strong and committed team, he openly acknowledges that sustained growth is impossible without the contribution of each team member.

Preserving legacy and growing the business’ impact

Direct contact with customers taught Maurits an important lesson: not all clients contribute equally to the health of the business. Some demanded significant time and resources yet brought minimal profit. Over time, he refined his customer base, letting go of low-value accounts while strengthening relationships with those who valued quality, reliability, and partnership.

Listening closely to his clients also revealed market gaps that larger competitors couldn’t fill, often due to their size and impersonal approach. In response, Maurits expanded his product portfolio, introduced higher-quality wood varieties, built relationships with new suppliers, and broadened his services all aimed at creating more value for customers whose needs were evolving. 

Ten years after taking over, Maurits is proud to own a business that supports his employees, serves its community, and is recognized for transparency, quality, and reliability. Customers regularly seek his advice, trusting his expertise as both a supplier and a partner.

Growth, he believes, is less about becoming the biggest player in the market, and more about making meaningful improvements that strengthen relationships and encourage repeat business. His focus remains on excellence in service and product, knowing that this is what drives loyalty.

After a decade of building trust with customers and the local community, Maurits remains actively involved in the town’s life, sponsoring fairs and the local football team in a way to stay connected with the community while giving the company visibility in its closest surroundings.

As Maurits’ journey illustrates, the acquisition of a family business requires a careful balance – between the preservation of the company’s deep roots, with the responsibility of shaping new directions that ensure its ability to sustain and thrive for generations to come.