41@sophia : Majencia: story of a reborn

Majencia is the French market leader in the office furniture and layout of work spaces, located in Noyon, Picardie.

It supports all development projects from conception, through the design, manufacture of furniture, installation and services.

In 2004, the company “Samas France” (now Majencia since 2009) is in crisis.

Indeed, since the end of 90’s its market continues to decrease.

So, the company decides to offshore its production line of desk pedestals to China in order to reduce the production cost and so the sales price with the aim of increase its volumes produced.

But it’s not sufficient and the Samas France’s object cannot be achieved:  business is continuing to be penalized by insufficient volumes and Samas France is going into bankruptcy filing and receivership and its Noyon site’s employees are confronted to technical unemployment.

The company is facing uncertain futures.

At the end of 2004, the company decides to ask Vincent Gruau’s help to restore the financial situation and help it to get back on track.

Thanks to Vincent Gruau, Samas France chose to change all its organization (commercial, trade, logistic…) with the aim to become the leader of office’s market at the end of 2010.

The best decision Mr Gruau took is to relocate the production line of desk pedestals delocalized in China.

This strategic choice allows the company the management of the whole production chain from conception to manufacture; a model that Majencia is the only one to follow in its market.

Wishing to enter the business with a view of sustainable development, Vincent Gruau, in September 2008, decided to conduct a Management Buy- Out ( MBO) and offers six executive members to join him.

Then, the Samas France’s turnover increased by over 5% (105 million €) and Samas France becomes Majencia.

Majencia gains in independence, development and autonomy and becomes the leader we know today.

 

http://www.majencia.com/uploads/cp/100201_Communiqu_Histoire_Majencia.pdf

http://www.youtube.com/watch?v=oh2Pi-a4x0g

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