SEB and Censor guide family businesses through generational transitions

Who will take over? Almost half of Sweden’s owner-led companies expect an ownership transition within the next five years. But succession is rarely just about ownership, it’s also about responsibility, relationships and direction.

When the next generation is preparing to step in, it becomes clear: this is as much about the family as it is about the business.

Comprehensive support with depth and breadth

SEB has extensive experience guiding families through complex ownership changes. In close collaboration with our strategic partner Censor – specialists in ownership planning – we offer integrated support where strategy meets structure. By bringing together legal, financial and human insight under one roof, we create clarity and confidence throughout the entire process.

There’s no set formula, but some elements are key: starting early, having the courage to address important questions and planning the future together. The process centres on clarifying roles, responsibilities, and expectations – helping to avoid confusion, distrust, or imbalance.

Structures built to last

A successful succession plan requires preparation on several levels. This includes clear timelines, ownership directives and ownership agendas that define direction. Shareholder agreements help secure alignment through future phases. But softer tools, like family councils, mentorship, and ownership forums, are just as vital for building trust across family members and generations.

When family members take on different roles within the company, questions of fairness often arise. Should everyone own an equal share? How is engagement over time valued? These are best addressed through a considered framework that accounts for both the company’s needs and the family’s dynamics.

If the next generation chooses not to take on an operational role, an external CEO may be the right solution. But success depends on clear mandates, board alignment and a shared confidence in the new leadership.

For some families, establishing a foundation can be a natural next step. A foundation can act as a long-term owner, detached from generational shifts and short-term profit demands, but it requires a clearly defined purpose and governance to work well.

A secure and fair handover

Fairness is often one of the most sensitive aspects of a generational shift. Even when a decision is legally sound, perceived unfairness between family members can create division and hinder the company’s development. That’s why it’s crucial to design a process that is transparent, inclusive, and grounded in both fact and feeling.

It’s also important to identify the next generation’s ambitions and capabilities early on, giving the right individuals the opportunity to grow into responsibility with the right support and trust. If only one sibling or cousin wishes to take over, it’s worth considering how others can be compensated. In the absence of other assets, financing a buyout may be necessary – requiring fair valuation, clear terms, and respect for legal inheritance rights.

The goal is sustainable ownership: a new generation stepping in with confidence, and the previous generation stepping back with pride and peace of mind.