Founded in 1954 in Esch-sur-Alzette by brothers Egide and Laurent Bonaria, the company is part of a family history that goes back much further, to when Aurelio Bonaria settled in Luxembourg to work in the construction industry. From the very beginning, Bonaria Frères built its business around construction and civil engineering projects, with a workforce largely made up of Italian immigrants. Over the decades, the company has consolidated its local roots, notably through the establishment of a concrete division and the expansion of its infrastructure.

In 1987, Gilbert Thein took over the management and continued to develop the company, which was incorporated as a public limited company in 1999. Since 2019, Gérard Thein, representing the fourth generation, has been running the business after joining it in 2016. “I want there to be generations after me,” Gérard Thein said at the time. A sure sign, no doubt, that the company still has its sights set firmly on the future.

In your view, what is the main lesson you have learnt from your experience with succession planning and engaging the next generation within your company?

Gérard Thein. – “It took much longer than I had anticipated, particularly as Covid and other factors extended the succession process to over three years.

How do you manage to balance the family’s expectations with the company’s economic and strategic imperatives?

“As my two sisters chose not to join the family business, the issue of decision-making hasn’t arisen in the day-to-day running of the company. These days, it’s more a case of differences of opinion between the former director, my father Gilbert, and myself that sometimes come up!

Which decisions or developments relating to governance or the professionalisation of management have had the most significant impact on your company?

“As an SME, we’ve had to bring in experts to help us restructure and digitise the business and our value chains.

How does your company balance the need to honour its heritage with the need to innovate or transform itself in order to remain competitive?

“The challenge lies more in the time required, the cost involved, and the need to motivate employees to embrace this transformation and the changes it will bring to their working lives.

What were the most decisive choices made regarding the financing of growth?

“Up until now, and given the crisis over the last five years, our company has remained somewhat conservative in order to maintain stability within its sector.

What tax or legal issues have proved to be the most critical for your family business?

“One of the most critical tax issues for a family business usually concerns the transfer of the business from one generation to the next. Indeed, without proper planning, inheritance tax can undermine the business’s financial structure or lead to a dilution of share capital.

What strategies have been most effective in developing your product or service offering whilst remaining true to the company’s core values?

“One of the most effective ways to develop our product range, equipment, machinery and services is to listen to our customers’ needs and adapt our offering, whilst remaining true to the values and expertise that form the very essence of our company.

At what point did you feel it was necessary to accelerate the company’s growth?

“This period represents years of consolidation and stability. The aim is to strengthen the company’s foundations, secure our operations and improve our internal organisation, rather than pursuing rapid expansion.

What were the main drivers – and the main challenges – behind your internationalisation strategy?

"Our company remains focused on the Luxembourg market, but is keeping an eye on developments among businesses in the Greater Region.

How can a family business attract and retain key talent in an increasingly competitive environment?

“A family business can attract and retain talent by highlighting what makes it unique: a close-knit atmosphere, trust and a long-term vision. Unlike in large corporations, employees can have a more direct influence on decisions and feel more involved in the company’s development.

How has increased international competition in your domestic market changed your positioning, organisation or strategy?

“It is prompting us to rethink our positioning and build on our strengths. Faced with competitors who are often larger and have significant resources at their disposal, we have chosen to set ourselves apart by focusing on quality, our close relationship with our customers and our specialist expertise.”

This article was written for the June 2026 issue of Paperjam magazine, published on 20 May. The content is produced exclusively for the magazine. It is published on the website to contribute to Paperjam’s comprehensive archive. Click on this link to subscribe to the magazine.

Is your company a member of the Paperjam Club? You can request a subscription in your name. Please let us know via club@paperjam.lu