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Succession planning for Swiss SMEs: comparing our model
F.G. Pfister offers a model for established Swiss SMEs where independence, employees, and long-term development are key criteria.
F.G. Pfister offers a model for established Swiss SMEs where independence, employees, and long-term development are key criteria.
Those looking to transfer ownership of a company have several options: a family succession, a management buyout, a sale to a strategic company, or investment by a long-term-oriented owner.
We offer a model that is unique in the Swiss investment landscape: a long-term majority investment, financed from the assets of a foundation, without a fixed resale horizon. This changes the logic of the conversation. We don’t sell companies on. We keep them.
Comparing succession models
In practice, Swiss SMEs typically consider four options: family succession, a management buyout or management buy-in, a sale to a strategic company, or investment by a long-term-oriented owner. The table provides guidance. Which model is the right fit depends on the family, management team, industry, company size, and time horizon.
| Criterion | Family succession | MBO / MBI | Srategic company | Private Equity | F.G. Pfister investment |
|---|---|---|---|---|---|
| Time horizon of the new ownership | Across generations | Medium to long term | Depends on corporate strategy | Limited, typically 4 to 7 years | No fixed term |
| Preservation of independence | High | Usually high | Often limited | Varies, often tied to return targets | High |
| Location and brand | Remain intact | Usually preserved | Depends on integration strategy | Depends on the value creation plan | Remain intact |
| Financing | Family assets, bank financing, seller financing | Equity, bank financing, seller financing | Funds of the acquiring company | Fund capital from institutional investors | Capital from the F.G. Pfister Stiftung |
| Role of existing ownership | Often continues to play a key role | Transfer to management | Usually transition phase | Usually transition phase | Individual approach, often as advisor or on the board of directors |
| Requirements for management | A suitable successor within the family is required | Strong management is essential | Management remains or is integrated | Experienced, growth-oriented management | Operational leadership must be sustainable |
| Implementation timeframe | Medium to long | Medium | Short to medium | Medium | Medium |
| Typical challenge | Suitability and family dynamics must align | Financing and the burden placed on management | Loss of culture, brand, or independence | Limited time horizon, focus on value creation | Only suitable where there is a clear profile and alignment of values |
When a company is a good fit for us
An initial conversation makes sense when the company is financially sound, has a viable business model, and is intended to continue operating independently over the long term from a strategic perspective. For us, the focus is not on the highest sale price, but on the company’s long-term future.
What we are looking for
Established Swiss SMEs with a proven business model
Sustainable profitability and a clear market position
Revenue of CHF 10 million or more
Investment size of up to CHF 50 million per investment
Companies with more than 50 employees
Majority investments or significant minority investments
Active involvement on the board of directors and in strategic decisions
Leadership, culture, and values that align with our model
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What remains. What changes.
.A successful succession solution does not end with the signing of the agreement. What matters is how employees, customers, leadership, and previous owners experience the transition. That is why we clarify early on what should remain unchanged and where new structures are needed.
Employees
Locations and jobs are part of the acquisition approach. We invest in companies because they work, and that includes the people who make them successful. What typically changes after the transition are strategic support, governance, and reporting. Not the team.
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Brand and customer relationships
Brands remain independent. Goba remains Goba, GROB remains GROB. Customer relationships are generally maintained by the existing management. The transition is intended to preserve trust, not create uncertainty.
Leadership
Operational leadership remains with the management team. We contribute at the board of directors level and support strategic decisions, investments, and leadership matters. We do not sit on the management team.
Previous owners
The role of previous owners after the transition is defined on an individual basis. Some remain involved in an advisory capacity or on the board of directors for a transition period. Others consciously step away. The important thing is to clarify this role early on, not only after the transaction.
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If succession planning has started taking shape in your mind, a conversation is worthwhile.
An initial conversation does not mean that you have made a decision. It means that you want to understand whether our model is a good fit for your situation. We take thirty minutes to listen, and we provide an honest assessment of your starting point. Confidential, non-binding, and without any follow-up costs.