Rapport hebdomadaire

Market PulseFebruary 13, 2026by ValIndex Intelligence

Week 7

New Registrations

1,231

-11% WoW

-2% 4W

Distress Events

532

+20% WoW

+8% 4W

M&A Deals

-62% WoW

-59% 4W

Succession Alerts

-12% WoW

-17% 4W

Publications

6,857

-4% WoW

-7% 4W

Deal de la semaine

Type	Acquéreur	Cible	Secteur	Actifs	Net
Fusion	Pratica Holding AG	Hasler + Co AG, Oerlikon	Business Services	4.9M CHF	4.3M CHF

Plus dans cette édition

Wärmeverbund Ettiswil AG←Wärmeverbund Steiner AG1.0M CHF
UBS Switzerland AG←UBS AG4257.6M CHF
5 procédures de faillite
3 spotlights signaux

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Carte d'activité cantonale

Plus de Transactions M&A

Zurich

1deals

Deuxième

Lucerne

1deals

Total national

2deals cette semaine

Cantons principaux

1.Zurich

119.2%

2.Lucerne

13.3%

Les 3 premiers cantons représentent 100% de l'activité transactions m&a nationale cette semaine.

Low

High

Source: Publications FOSC

Signaux sectoriels

En hausse

Stable

En baisse

Nouveau

(tendance 4 sem.)

11 sectors · 12 weeks aggregated · box size = M&A count35 M&A signals · % = 4-week trend

Transactions M&A (2 de plus)

Type	Acquéreur	Cible	Secteur	Actifs	Net
Fusion	Wärmeverbund Ettiswil AG	Wärmeverbund Steiner AG	MEM: Energy & Environment	1.0M CHF	792K CHF
Transfert de patrimoine	UBS Switzerland AG	UBS AG	Financial Services	4257.6M CHF	512.6M CHF

Spotlights signaux (3)

M&ABS

UBS Switzerland AG / UBS AG

UBS Switzerland AG received CHF 4.26 billion in assets from UBS AG in a massive internal asset transfer — the latest step in UBS's post-Credit Suisse integration. The CHF 512.6M net transfer represents the domestic banking book being consolidated into the Swiss subsidiary. While not a true M&A event, the scale dwarfs all other weekly transactions and reflects the ongoing restructuring of Switzerland's banking landscape into a single dominant institution.

SUCCESSIONBL · MEM: Machines & Automatisation

Hatebur Umformmaschinen AG

Hatebur Umformmaschinen AG (Reinach, BL), a globally recognized manufacturer of hot and cold forming machines, lost board member Andreas Moser with no replacement. Hatebur is a cornerstone of Basel-Landschaft's precision machinery cluster, supplying forging presses to automotive and aerospace manufacturers worldwide. The departure from this family-owned industrial champion is a significant succession signal for the Swiss MEM sector.

DISTRESSAG

SMAM GmbH in Liquidation

SMAM GmbH (Reinach, AG) entered bankruptcy and liquidation by court order. The company, established in 2022, operated in the business services space. Its rapid failure — barely three years after incorporation — exemplifies the high mortality rate among small Swiss GmbHs in crowded service sectors where differentiation is difficult and client acquisition costs can quickly exceed revenues.

Faillites notables (5)

Société	Canton	Secteur	Détails
Fair Commodities Trading SA, en liquidation International trade, transport, and logistics services	GE	Retail & Consumer	Est. 2014 · TM: Happy Family
Callys Cosmetics SA Develops, produces, and sells cosmetics and health products	FR	Retail & Consumer	Est. 2009 · TM: Glycolagen, Serum Hyaluron
Envon GmbH in Liquidation Construction, renovations, repairs, and cleaning services	ZH · AG	Building & Infrastructure	Est. 2024
2Clean Management Sàrl en liquidation Management, trade, and logistics for cleaning services	VD	Business Services	Est. 2020
ARTI GROUP CONSTRUCTIONS Sàrl, en liquidation General building contractor, renovations, and construction	GE	Building & Infrastructure	Est. 2021

Commentaire hebdomadaire

Activity moderated in W07 as the January registration wave receded. New registrations fell 11.4% to 1,231, while board changes dropped 7.9% to 2,112 — both trending toward a sustainable baseline. Liquidations, however, surged 34.7% to 353, the highest weekly count of 2026, as cantonal registrars processed year-end voluntary dissolutions that had been accumulating since December.

Bankruptcies held essentially flat at 179 (-2.2%), continuing the gradual normalization from W04's peak of 227. Construction remains the most affected sector, with Envon GmbH (est. 2024, Zurich) and ARTI GROUP CONSTRUCTIONS (est. 2021, Geneva) both filing — a reminder that the barrier to entry in Swiss construction is low, but survival past the first three years remains challenging.

The week's headline deal was UBS Switzerland AG's CHF 4.3 billion asset transfer from UBS AG — a continuation of the post-Credit Suisse integration, moving domestic banking assets into the Swiss legal entity. In the real economy, Pratica Holding AG's absorption of Hasler + Co AG Oerlikon (CHF 4.9M in assets) signals consolidation in Zurich's industrial services sector. Hatebur Umformmaschinen AG's board departure in Reinach (BL) adds another succession signal in the machinery belt straddling Basel-Landschaft.

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