Swiss M&A in July 2026
ValIndex recorded 32 transactions involving an operating Swiss company in July 2026. 19 were reported in the business press; 13 surfaced only in the commercial register, with no press coverage at all. 16 carried a disclosed price.
Why the register-only number matters
A Swiss acquisition becomes public twice: once when someone writes about it, and once when the commercial register publishes the change of control. The second always happens; the first often does not. 13 of July’s 32 transactions never made the press — they are in this list because ValIndex reads the register itself, every publication, every week.
Where the deals were
Canton is on record for 19 of 32 transactions.
Every transaction recorded in July 2026
- 2026-07-01ZHPress-reportedLife Sciences & Pharma
Memo Therapeutics
acquired by Ipsen
French pharma group Ipsen signed a definitive agreement on 1 July to acquire Memo Therapeutics, the Schlieren-based ETH Zurich spin-off behind potravitug, a first-in-class Phase II antibody against BK polyomavirus in kidney-transplant recipients. EUR 200 million upfront, milestones to above EUR 700 million, closing expected in Q3. The Swiss venture syndicate exits (Pureos, Swisscanto, Kurma, Ysios, Vesalius among others, roughly $97 million raised); the DROPZYLLA discovery platform is carved out into a new entity retained by the selling shareholders. One of the larger Swiss biotech exits of 2026.
- 2026-07-01GEPress-reportedElectronics & Precision
Baume & Mercier
acquired by Damiani Group
Italian jeweller Damiani completed its 100% acquisition of Geneva watchmaker Baume & Mercier from Richemont on 1 July, signed 22 January. Richemont provides interim operational services; Damiani plans to push the brand, founded in 1830, through its Rocca retail network and selected mono-brand boutiques. A rare full exit of a maison from the Richemont stable, and the top-of-market bookend to the same week's component-layer consolidation.
- 2026-07-01GEPress-reportedTechnology & Software
FNZ Switzerland SA
acquired by Objectway
Italian wealthtech Objectway acquired FNZ's Swiss private-banking technology business, the former New Access, with more than 160 professionals and software used by over 40 private banks across Switzerland, Liechtenstein, Luxembourg, Monaco and the Bahamas. Vincent Jeunet becomes CEO of the rebranded Objectway Switzerland. FNZ is reversing its 2022 New Access purchase; the third Italian acquirer in the Swiss market this week.
- 2026-07-01ZGPress-reported
FRISAG AG
acquired by Max Lehner AG
Zurich's Max Lehner AG, maker of the maxolen and carlack surface-care lines, took over the operating business of FRISAG AG of Neuheim, a specialty-chemicals producer founded in 1963, effective 1 July. Second-generation owner Urs Schildknecht, the company's sole registered director, framed the sale as securing continuity for a business his father founded. Recipes, staff and the FRISAG brand are retained. A textbook Swiss succession exit of exactly the sole-director shape our research keeps measuring.
- 2026-07-01TIPress-reported
Carthesio SA
acquired by Banca Credinvest SA
Lugano's Banca Credinvest took a 19.5% stake in Carthesio, one of Ticino's main independent asset managers: 23 professionals, over CHF 1 billion under management, FINMA-authorised since 2007, closely tied to the Bianchetti family. Carthesio becomes wealth-management advisor to the bank. The register shows Carthesio tidied its structure in advance, absorbing sister company Carthesio M.C. under a May merger contract.
- 2026-07-02JUPress-reportedFinancial Services
Sequotech
acquired by Sagard Private Equity Solutions / Verium continuation vehicle
Deal of the Week, see above. Verium's second continuation vehicle for its nine-company Swiss IT-services platform; Sagard enters as first institutional investor, roughly 80 employees and founders roll. Register filing of 9 July shows preferred shares, a capital band and Sagard's board seat at Sequotech SA, Delemont.
Price: CHF 130M+ (continuation vehicle, secondary plus growth capital)Press-Reported Market Pulse 2026-W28 - 2026-07-06Register-only
Wäscherei Bodensee AG
acquired by Elis (Suisse) AG
The register recorded the completion merger of Elis (Suisse) AG, the Bern-based textile-rental arm of Paris-listed Elis SA, and Wäscherei Bodensee AG, an industrial laundry in Münsterlingen TG that Elis took over in December 2025. The merger balance sheet per 31 December 2025 is the interesting part: CHF 17.2 million of assets against CHF 19.1 million of liabilities, an excess of liabilities of CHF 1.86 million, with Elis attesting free equity to cover the shortfall. The filing quietly discloses that the acquired laundry was overindebted at year-end, a number no press release carried. It was the only genuine third-party transaction among the week's eight largest register filings; the other seven were intragroup consolidations.
Price: CHF 17.2MMarket Pulse 2026-W28 - 2026-07-10SOPress-reportedBusiness Services
TOLUS Group AG
acquired by Marubeni Corporation
Japanese trading house Marubeni is buying 100 percent of TOLUS Group, the Swiss distributor behind Suvema and Newemag that sells and services Japanese CNC machine tools and automation in Switzerland and Austria, with core customers in watchmaking and medtech. Announced 10 July; German mid-cap PE firm Halder, which formed the group from the two distributors in 2022, gets its exit, and Marubeni calls it its full-scale entry into European machine-tool distribution. A distributor exit, not a manufacturer sale.
- 2026-07-13ZHPress-reported
Beazley plc
acquired by Zurich Insurance Group
The European Commission unconditionally cleared Zurich Insurance's all-cash £8.1bn acquisition of London specialty insurer Beazley (signed March 2026) — the regulatory milestone of the week and one of the largest specialty-insurance consolidations in over a decade. A marker of the balance-sheet reach top Swiss financials will deploy cross-border.
- 2026-07-13Register-only
WhiteAlp GmbH
acquired by Bitcoin Suisse AG
Filed 13 July: FINMA-regulated crypto-financial services group Bitcoin Suisse AG (Zug, founded 2013) absorbed WhiteAlp GmbH, a small Zug entity, via merger at CHF 55,237 net assets. A bolt-on too small for a press release, but a marker that Switzerland's largest independent crypto broker is still tucking in adjacent entities around its Zug base.
Price: CHF 6.7MMarket Pulse 2026-W29 - 2026-07-13Register-only
EHL HTM Immobilien AG
acquired by EHL Hotelfachschule Passugg AG
The operating company of the EHL hospitality school in Passugg (Graubünden) merged in its affiliated property holding, EHL HTM Immobilien AG, at CHF 3.3M net assets (filed 13 July). A group-level tidy-up folding real estate into operations — the structural simplification that often precedes a strategic move or a sale of the combined asset.
Price: CHF 5.9MMarket Pulse 2026-W29 - 2026-07-13BERegister-onlyWholesale & Distribution
Ski+Velo-Center SVC AG
acquired by Trophy Schweiz AG
Fribourg sports-retail company Trophy Schweiz AG absorbed Bern's Ski+Velo-Center SVC AG (ski and bicycle sales, rental and service) at CHF 1.08M net assets (filed 13 July). A cross-cantonal consolidation extending a Romandie sports retailer into the Bern market — small, but a real footprint gain in a fragmented specialty-retail niche.
Price: CHF 3.9MMarket Pulse 2026-W29 - 2026-07-14BLRegister-only
Personalvorsorgestiftung der Angenstein ESTECH AG in Liquidation
acquired by UWP Sammelstiftung für die berufliche Vorsorge
Filed 14 July: a liquidating single-employer pension foundation transferred CHF 12.0M of occupational-pension assets to the UWP collective foundation. Not conventional M&A, but a live example of Switzerland's ongoing pension consolidation — corporate pension books migrating into pooled collective vehicles as standalone foundations wind down.
Price: CHF 95.6MMarket Pulse 2026-W29 - 2026-07-16VDPress-reported
Bubbles Crèches
acquired by HELVEON
Swiss SME investor HELVEON took majority control of premium French-Swiss daycare network Bubbles Crèches (announced 16 July, advised by Walder Wyss). The network was co-founded in 2023 by Noémie Benhamou and France's Lavorel Group via LD Education; Benhamou stays to run it, and Lavorel keeps a minority as it refocuses on German-speaking Switzerland. A clean read on Swiss childcare becoming a domestic buy-and-build lane — the buyer is growth capital for SMEs, not a mega-fund.
- 2026-07-16ARPress-reportedIndustrials & Manufacturing
Rotork
acquired by ABB
Announced 16 July: Swiss-Swedish automation group ABB launched a takeover bid for UK flow-control specialist Rotork at nearly USD 5.5bn — roughly a 60% premium to the recent average share price. The local footnote our data flags: Rotork's Swiss arm, Rotork AG, is registered in Appenzell Ausserrhoden. A rare large-cap Swiss acquirer paying a full control premium for a listed target.
- 2026-07-16ZHPress-reportedFinancial Services
Banque Richelieu (Zurich)
acquired by Groupe Banque Richelieu
France's Groupe Banque Richelieu completed the full buy-in of its Zurich private-banking subsidiary, a move it says lifts group assets under management above EUR 11bn. A foreign banking group deepening — not exiting — its Swiss booking centre, the opposite of the sub-scale wealth-manager attrition running elsewhere in the market.
- 2026-07-20ZGPress-reported
PolyPeptide Group AG
acquired by Samsung Biologics
Announced 20 July: an all-cash tender at CHF 44.31 per share, minimum acceptance two-thirds, with Draupnir Holding's 55.65% irrevocably committed and a stated intention to squeeze out minorities and delist from SIX. The premium is 40% over the undisturbed 10 April close but only about 6% over the last close. H1 2026 revenue rose 41.6% to EUR 236.6m, GLP-1 metabolics at 68% of sales. Baar is a corporate HQ only: all six plants sit abroad, and no site or headcount commitments were given.
Price: CHF 44.31 per share, ~CHF 1.46bn equity valueMarket Pulse 2026-W30 - 2026-07-20Press-reported
bp Retail Austria GmbH
acquired by volenergy AG
The whole Austrian retail arm: about 250 stations, 115 shops, 79 car washes, the EV-charging network and fleet cards, with roughly 60 staff transferring. Air bp and Castrol are carved out and the sites keep the bp brand under licence. Announced 20 July, closing expected end-2026 conditional on Austrian competition clearance. See the Deal of the Week for why this particular buyer matters.
Price: UndisclosedMarket Pulse 2026-W30 - 2026-07-20Register-only
Holzwerkstoff Holding AG (HWH)
acquired by Kuratle Group AG
Filed 20 July, effective 1 June: Kuratle Group AG absorbed Holzwerkstoff Holding AG. Not a transaction — the notice records no capital raised and no shares allocated, because the acquirer already held every share, so the CHF 35.6m is book equity, not a price. The vehicle deleted was incorporated in 1999 to fuse Kuratle and Jaecker, whose operating company today carries a CHF 190m revenue estimate and 200-500 staff. See One Story Deeper.
Price: CHF 43.1MMarket Pulse 2026-W30 - 2026-07-20Register-only
IT Xpert AG
acquired by Howden Broker Service Schweiz AG
Howden's Swiss arm absorbed IT Xpert AG on 20 July, effective 25 June, at CHF 178,097 net assets. This is the tidying-up step that follows a purchase rather than the purchase itself. Worth logging only as a marker of which international broker platforms are still buying in Switzerland — Howden has been assembling a Swiss brokerage book by acquisition for several years.
Price: CHF 2.4MMarket Pulse 2026-W30 - 2026-07-21Register-only
CI Tech Sensors AG
acquired by Diebold Nixdorf AG
Filed 21 July: CI Tech Sensors AG of Burgdorf was struck off and its CHF 5.03m of assets passed to Diebold Nixdorf AG. No capital was raised and no shares allocated — the notice records that Diebold already held every share, so this is the legal tidying of a subsidiary, not a purchase. CI Tech built the sensors that decide whether a banknote fed into a machine is genuine; that capability now sits directly in the Swiss parent.
Price: CHF 5.0MMarket Pulse 2026-W30 - 2026-07-21Register-only
Steinemann DPE AG
acquired by OVD Kinegram AG
Zug's OVD Kinegram makes the optical security elements on banknotes and passports. Effective 10 July and filed on the 21st, it folded in St. Gallen's Steinemann DPE AG at CHF 1.42m net assets, bringing digital printing and embellishment equipment in-house. Small in book value, but it puts two Swiss sites of anti-counterfeiting capability under one roof.
Price: CHF 5.6MMarket Pulse 2026-W30 - 2026-07-22Press-reported
Atonarp Inc.
acquired by VAT Group AG
VAT put CHF 110m of brand-new bilateral debt into a Tokyo sensor company on 22 July, the same morning it reported H1. Atonarp's ASTON sensors place miniaturised mass spectrometry inside semiconductor process chambers; CEO Urs Gantner ties the purchase to nodes below 2nm. CFO Fabian Chiozza was unusually direct that there is no near-term accretion and that contribution arrives by the end of the decade. A capability purchase, not an earnings one. Atonarp's financials are undisclosed.
- 2026-07-23ZHPress-reported
Santander Consumer Finance (Swiss auto financing business)
acquired by Cembra Money Bank AG
This one is a portfolio transfer, not a share deal. On 23 July, alongside H1 results, Cembra agreed to take roughly CHF 800m of Santander's Swiss auto-lending book and nine manufacturer and importer relationships. Price undisclosed. Funded by about CHF 680m of debt plus CHF 120m of equity placed at CHF 86.80. Swiss leasing share moves from 18% to about 22%, accretive to EPS from 2027 after a CHF 11m one-off. Santander stays on as Cembra's exclusive Swiss partner. Closing November 2026.
- 2026-07-24GERegister-onlyRetail & Consumer
CAROLL International Suisse Sàrl
acquired by DFS SA
The Swiss retail arm of French womenswear chain CAROLL went into its parent on 24 July, effective 3 July, at CHF 7.67m net assets, both sides in Geneva. By net book assets it is the largest third-party registry merger of the week after Kuratle. European fashion groups restructure their Swiss retail entities on a steady cadence, and almost none of it is announced.
Price: CHF 10.2MMarket Pulse 2026-W30 - 2026-07-28TIPress-reportedIndustrials & Manufacturing
Ideal-tek SA
acquired by PINOVA Capital GmbH
First investment of PINOVA Fund 4. Grisoni-family owned since 1964; Sandro Grisoni stays on as chief executive, the structure PINOVA runs across its succession buyouts. Around 85 employees, 45 export markets, roughly 150 distribution partners. The register moved first: on 2 July, twenty-six days before the announcement, Ideal-Tek cancelled the transfer restriction on its shares, having expressly reaffirmed it in December 2024. It won Switzerland Global Enterprise's Export Award on 24 April.
- 2026-07-28GRPress-reportedLife Sciences & Pharma
InfoRLife SA
acquired by BC Partners
A co-control stake alongside Italy's ACS Dobfar. The sellers are its founding families and InfoRLife's founder and chief executive Sergio Dusci, who stays on. It makes ready-to-use IV infusion bags from plants in Switzerland, Romania and Tunisia; the Swiss site is at Campascio in Brusio, Graubünden, not Ticino as some databases record it. Bloomberg reported the stake as near 50 per cent, valuing InfoRLife at roughly USD 1.5bn. Closing needs antitrust and FDI clearance.
- 2026-07-28Press-reported
Cloeren Incorporated
acquired by Dover Corporation
We run this one to correct it. European trade titles reported that Swiss-headquartered Maag had bought Cloeren, and our feed ingested it. The primary release is Dover Corporation's, from Illinois: a US buyer acquiring a US target in Orange, Texas. Maag has been a Dover business unit since 2012 and no Swiss entity is the contracting acquirer. The Swiss content is narrow but real: the products will sit inside Dover's MAAG division, whose Swiss operations are at Oberglatt. This is not Swiss M&A.
- 2026-07-30AGPress-reported
Mammut Sports Group AG
acquired by CPE
Agreement signed 30 July, adviser confirmations through the first week of August. Jacobs Capital exits after a 2021 entry and a three-year rebuild: double-digit revenue CAGR, operating margin more than doubled, more than half of sales now outside Europe. CPE is a Chinese alternative asset manager whose holdings include Pop Mart. Headquarters, innovation, development and design stay in Switzerland; Heiko Schäfer stays as CEO. Freshfields for Mammut management, Bär & Karrer for CPE.
- 2026-07-31Register-only
INVOLI SA
acquired by No acquirer filed — entire board replaced
On 29 July the whole board of this Lausanne air-traffic-surveillance company was replaced in a single filing. In came Robert Simpson as president, H. Douglas Pinckney Jr and Marc Viggiano, with Kenneth Kaminski as an executive officer. All four are resident in Onondaga County, New York. Co-founder Raphael Zaugg stayed on as vice-director with sole signature, the resident representative an all-foreign board must appoint. No capital increase.
Price: UndisclosedMarket Pulse 2026-W31 - 2026-07-31Register-only
Rouages SA
acquired by SwissTech Watch Components SA
No Swiss newspaper reported this. Rouages of Ballaigues, descended from Pignons SA of 1918, was sold by the Bourgeois family in mid-July; statutes amended on the 15th, register published on the 29th. Transfer restrictions were lifted on all shares including the voting-privileged block, and the auditor upgraded to PricewaterhouseCoopers. Two incoming signatories have been buyer directors since February 2025.
Price: UndisclosedMarket Pulse 2026-W31 - 2026-07-31Register-only
Newemag AG and Schneider MC S.A.
acquired by Marubeni Corporation
The Marubeni takeover of TOLUS Group, which we reported on 10 July, finished landing in the register. Yuta Takagawa became president and Tsutomu Arasaki a member at Newemag AG and Newemag Holding AG in Eschenbach on 29 July, and at Schneider MC S.A. of Yverdon-les-Bains on 27 July. That Vaud company has not been named in any coverage. Across six entities Pirmin Zehnder went from sole to joint signature. No Swiss manager can now sign alone.
Price: UndisclosedMarket Pulse 2026-W31
How this list was built
Every week ValIndex reviews all Swiss commercial-register publications (SOGC/SHAB) and the Swiss business press, and records transactions involving an operating Swiss company. This page is the July 2026 slice of that record. Transactions are deduplicated on the target–acquirer pair and dated to the publication or announcement, not to signing. Coverage of the register is complete for this month; press coverage is necessarily selective, which is the point of the register-only count.
ValIndex, “Swiss M&A in July 2026”, 2026-07-31. https://valindex.ch/en/swiss-ma-july-2026/
Next month’s deals, as they happen.
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