Devillard, a prominent Genevan SME specializing in digital office solutions, has announced a significant strategic leadership transition through a management buy-out (MBO). Founded in 1958 by Roland and Marie-Thérèse Devillard, the company has evolved remarkably from selling stencil duplicators to offering cutting-edge digital office technologies, including advanced printing solutions, electronic document management, and interactive displays. This evolution was largely shaped by Claude and Marc Devillard, who took the helm in 1987, steering the firm through decades of technological shifts and economic cycles.

The MBO sees the two long-standing directors, François Pflieger and Luc Schenkel, taking ownership from Claude and Marc Devillard. This internal succession ensures continuity while injecting fresh leadership into the company. The former owners will retain minority stakes and continue to serve on the board of directors, providing invaluable experience and guidance. With 125 employees and a robust turnover of CHF 35 million in 2023, Devillard exemplifies a successful family enterprise that has consistently adapted to market demands.

A key takeaway from Devillard's journey, as articulated by Claude Devillard, is the counter-intuitive philosophy that "a company can develop a lot during crises." This mindset has enabled the firm not just to weather economic storms but to leverage them as opportunities for growth and innovation, defying the common adage that subsequent generations merely maintain what the founders built. This strategic approach to adversity offers a compelling case study for global professionals seeking resilience and forward momentum in unpredictable markets.

Regional Perspective

The Devillard MBO is particularly significant within the context of Switzerland's robust SME landscape, where family-owned businesses form the backbone of the economy. Geneva, a hub for international business and finance, showcases numerous examples of traditional firms successfully pivoting into the digital age. This transition at Devillard highlights a growing trend among Swiss family businesses to plan meticulously for succession, often opting for internal solutions like MBOs to preserve company culture, expertise, and long-term vision. The decision by Claude and Marc Devillard to hand over leadership to trusted internal figures, while maintaining a strategic presence, reflects a distinctly Swiss approach to business continuity – prioritizing stability and gradual evolution over disruptive changes. This model fosters employee loyalty and maintains client trust, crucial elements for sustained growth in the competitive European market.

Analysis

The Devillard MBO provides a compelling narrative for understanding strategic resilience and succession planning in the tech-software sector. Claude Devillard's assertion that crises can be periods of significant development is a testament to proactive management, investing in adaptable technologies, and fostering an innovative company culture. For business intelligence professionals, this case study underscores the importance of not just surviving downturns but strategically positioning for growth during them, particularly through digital transformation initiatives. Devillard's shift from stencil duplicators to comprehensive digital office solutions showcases a successful long-term investment in technology that delivers tangible value.

From a private equity and venture capital perspective, while an MBO is an internal transaction, it mirrors the strategic considerations found in external investment scenarios: clear valuation, leadership transition, and future growth potential. The continued involvement of the former owners as minority shareholders and board members offers a unique hybrid model, blending entrepreneurial continuity with new leadership energy. This structure mitigates risks associated with abrupt changes and provides a stable platform for future expansion into emerging digital office trends. For investors and entrepreneurs alike, Devillard's story offers actionable insights into building lasting value, navigating generational shifts, and capitalizing on market disruptions through strategic adaptation and internal leadership development.