(28.02.2024) Swiss SMEs took advantage of the strong franc to increase their investments in mergers and acquisitions of foreign companies. The total number of transactions reached 76 (+1.3%), a record figure since the beginning the consulting firm Deloitte began its study in 2013.
However, the number of "inbound" transactions (acquisitions of Swiss SMEs by foreign companies) declined sharply by nearly 34.7% over the same period. Consequently, only 64 Swiss SMEs were acquired by foreign investors in 2023.
Foreign investors predominantly targeted Swiss sectors such as industry (21%), IT and software companies (21%), and life sciences and health (16%). Meanwhile, Swiss SMEs showed strong interest in foreign branches of industry (28%) and life sciences and health (20%).
Regarding domestic transactions involving two Swiss entities, the tally for 2023 stood at 71 M&A operations, maintaining the decade-long average.
Operating away from the stock markets, private equity (PE) funds recorded an increase in domestic transactions, but a decline in investment from abroad. Although the acquisition of Swiss SMEs by Swiss private equity funds rose by 42%, the overall number of transactions fell by 18%.
Jean-François Lagassé, Head of the Financial Services sector at Deloitte Switzerland, anticipates a modest recovery in M&A activity in Switzerland for 2024, especially given "the likely decrease in interest rates by central banks of developed economies."
Last modification 28.02.2024
