1.0Market Snapshot
- +10.5%
- Growth in employees of electrical installation firms, the wholesalers' main customers, from 2020 (50,691) to 2024 (55,988), BFS STATENT NOGA 43.21. BFS does not count electrical installation-material wholesalers separately; they sit in NOGA 46.69 with other equipment wholesalers.
- 4,940
- Electrical installation firms in 2024 with 55,988 employees (BFS STATENT, NOGA 43.21): the installers who buy from electrical wholesalers.
- 1,333 MW
- Solar capacity added in Switzerland in 2025, down about 26% from 2024; panel sales fell 29.3% while home-battery sales rose more than 70% (Swissolar, Statistik Sonnenenergie 2025).
- 4,339
- Employees of wholesalers of electronic components and telecom equipment in 2024 (BFS STATENT, NOGA 46.52, 386 units), the only electrical wholesale branch BFS counts on its own.
2.0Industry Overview
Electrical wholesalers supply installers and industry with installation material, cables, switchgear, lighting, solar and automation products. The Swiss market is led by two French-owned groups. Elektro-Material AG (EM), founded in 1913 in Zurich and part of Rexel, employs about 750 people at nine sites. Sonepar Suisse, registered in St. Gallen and formerly Winterhalter + Fenner, has more than 550 employees at 15 sites; since April 2021 its regional wholesalers Dysbox, ElectroLAN, Electroplast and Fabbri trade under the single Sonepar brand. Otto Fischer in Zurich is a large independent wholesaler, and distributors of electronic components such as Distrelec (owned by the British RS Group since 2023) supply industry and engineers.
3.0Industry Health Check (SWOT)
- Essential link between manufacturers and almost 5,000 installation firms
- Thin trading margins→ §5.0
- Home batteries, heat pumps and charging stations
- Solar slowdown after the 2022–2024 boom
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Electrical & Electronics Wholesale business valuation in Switzerland
- Statutory Multiple (EBITDA)
- 4.0 - 5.5×
- Deal Multiple (EBITDA)
- 5.0 - 7.5×
- Market Trend
- Stable
Indicative ranges based on market research. Actual multiples vary by company size, growth, and market conditions.
8.0Regional Clusters
Zurich
114 electronic-component and telecom wholesalers with 1,439 employees in 2024 (BFS STATENT, NOGA 46.52), a third of the national total; EM and Otto Fischer are based in Zurich, Distrelec in Uster and Demelectric in Geroldswil.
Central Switzerland
58 units with 374 employees, many of them small trading companies.
Northwestern Switzerland
48 units with 693 employees.
Western Switzerland
46 units with 609 employees.
Eastern Switzerland
46 units with 491 employees; Sonepar Suisse is registered in St. Gallen.
Bern and Solothurn
38 units with 647 employees, the largest on average (17.0 per unit).
Ticino
26 units with 80 employees.
Sources
9.0Frequently Asked Questions
▶How much is an electrical wholesaler worth in Switzerland?
ValIndex's multiples table puts Swiss electrical wholesale at 5.0–7.5× EBITDA in transactions and 4.0–5.5× EBITDA on statutory valuations. Specialists with strong installer relationships or a niche such as automation or lighting sit at the upper end; general traders with thin margins sit lower.
▶What drives the value of a Swiss electrical wholesaler?
Buyers price: (1) installer and industrial customer relationships; (2) supplier agreements and brand exclusivity; (3) logistics and delivery speed; (4) gross margin and stock quality; (5) specialist know-how in solar, storage, automation or lighting; (6) succession and dependence on the owner.
▶How big is Swiss electrical wholesale?
No official figure exists for the market. BFS counts the customers — 4,940 electrical installation firms with 55,988 employees in 2024 — and 386 wholesalers of electronic components and telecom equipment with 4,339 employees, but installation-material wholesalers are counted together with other equipment wholesalers. The two leaders together employ about 1,300 people in Switzerland (EM about 750, Sonepar more than 550).
▶Who are the main electrical wholesalers in Switzerland?
Elektro-Material (EM, Rexel group, Zurich) and Sonepar Suisse (Sonepar group, St. Gallen) lead the market. Otto Fischer (Zurich) is a large independent, Distrelec (Uster, RS Group) distributes electronic components, and Demelectric (Geroldswil) trades and makes electrotechnical industrial products.
▶What are the key trends in Swiss electrical wholesale?
Five trends: (1) solar additions fell about 26% in 2025 while home batteries rose more than 70%; (2) installer employment rose 10.5% from 2020 to 2024; (3) Sonepar unified its brands in 2021 and bought EHS Switzerland in 2024; (4) electronics distribution moved into global groups, as with Distrelec and RS Group; (5) fewer electronics wholesalers, at stable employment.
▶What are the main risks when buying a Swiss electrical wholesaler?
The main risks are: (1) thin margins and price pressure from the two large groups; (2) stock and working-capital risk, especially in solar products after the boom; (3) loss of a key supplier; (4) manufacturers and platforms selling directly; (5) owner-dependent customer relationships. Due diligence should check stock ageing, supplier contracts and customer concentration.
▶How is the solar slowdown affecting electrical wholesalers?
Solar was the fastest-growing product line until 2024. In 2025 Swiss solar additions fell about 26% to 1,333 MW and panel sales fell 29.3%, the first decline since 2017, which leaves wholesalers with lower volumes and stock risk. Home batteries partly offset it, with sales up more than 70%; Swissolar expects installations to stabilise in 2026.
▶Where are Swiss electrical and electronics wholesalers located?
Using BFS figures for 2024 for wholesalers of electronic components and telecom equipment: Zurich leads with 114 units and 1,439 employees, followed by Central Switzerland (58; 374), Northwestern Switzerland (48; 693), Western Switzerland (46; 609), Eastern Switzerland (46; 491), Bern and Solothurn (38; 647) and Ticino (26; 80). EM and Otto Fischer are based in Zurich and Sonepar Suisse in St. Gallen.