Switzerland

Pictet Alternative Advisors' direct private equity investments team has entered into a strategic partnership with TRETOR AG (Tretor) to build a leading Swiss accounting services group. Tretor is a well-established accounting services provider based in Liestal, with a branch office in Basel, and serves small and medium-sized enterprises across all sectors in Northwestern Switzerland. Pictet Alternative Advisors manages investments in alternative assets for both private and institutional clients within the Pictet Group. Bär & Karrer acted as legal advisor to Pictet Alternative Advisors in this transaction. The team was led by Raphael Annasohn and included Julian Lindt, Katarina Skoric and Matthias Tanner (all M&A), Susanne Schreiber, Martin Leu and Leotrim Berisha (all Tax), Rocco Rigozzi and Patrick Neher (both Real Estate), Laura Widmer and Sandra Schaffner (both Employment), Christian Kunz and Ferdinand Rombach (both IP/IT/Data Protection), Mani Reinert and Martin Werner (both Competition), as well as Julia Eiholzer (Notarial Services). For further information please contact: Media Relations, Eric Stupp Tel: +41 58 261 50 00 Email: [email protected]

Niederer Kraft Frey advised L.E.S.S. SA on its series C financing round. L.E.S.S. SA, which develops ultra-thin nano active fiber lighting solutions for industrial vision, automotive applications and medical illumination, has successfully closed a USD 22 million (CHF 17 million) series C financing. L.E.S.S. SA is a Swiss high-tech scale-up, founded in 2012, that designs, develops and manufactures advanced lighting solutions based on its proprietary nano-active fiber technology. The LuxiBright® technology delivers ultra-bright, ultra-uniform and ultra-thin lighting systems that outperform traditional LED technology in precision, efficiency and flexibility. These solutions are used across demanding technical applications such as industrial machine vision (for precise inspection), automotive lighting (including high-end signal and contour lights), and medical illumination, addressing both performance and energy-efficiency needs. Driven by the expertise and determination of the #FearLESSTeam, L.E.S.S. SA recently presented the world’s first series production vehicle featuring LuxiBright® technology marking a major milestone in automotive lighting, combining cutting-edge technology with visionary design. The financing will be used to scale up the business. The NKF team was led by Corporate/M&A and Technology partner Jacques Bonvin, working with partner Andrea Wuerzner (Corporate/M&A) and associate Boris Catzeflis (Technology).

Niederer Kraft Frey advised CVC as Swiss law advisor on its acquisition of Animal Nutrition & Health (ANH) from dsm-firmenich via a carve-out transaction for an enterprise value of EUR 2.2 billion. The transaction includes an earn-out of up to EUR 0.5 billion, with dsm-firmenich retaining a 20 percent equity stake in the divested ANH business alongside CVC. CVC is a leading global private markets manager focused on private equity, secondaries, credit and infrastructure with a global network of 30 local offices and EUR 205 billion of assets under management. ANH is a global provider of science-based animal nutrition and health solutions. The business offers products ranging from vitamins and premixes, to feed additives that improve animal health, performance, feed efficiency and sustainability across livestock production. ANH helps producers deliver high-quality animal protein while reducing environmental impact. The NKF team was led by Corporate/ M&A partners Patrik Peyer and Moritz Maurer and senior associate Alexander Göbel, working with associates Alexandra Neuenschwander and Nadine Wanner (both Corporate/ M&A), partner Andreas F. Vögeli, associates Yannik Bleiker and Jessica Messerli (Real Estate), partner Janine Reudt-Demont and associate Luisa Egli (both Regulatory), partner Philip Spoerlé (Finance), partner Andreas Casutt and associate Sabrina Gysi (Employment), partner Simon Bühler and associate Antonio Gramunt (both Pensions), partner Roman Sturzenegger and associate Anastasia Herger (Restructuring) as well as counsel Marc Vogelsang (Tax). White & Case acted as lead counsel. The White & Case team was led by Stefan Koch, Ben von Maur, Carlo Meert, Carola Glasauer and Joshua Crawley.

On February 19, 2026, Solabia Group announced that it has entered into an agreement to acquire the Mibelle Biochemistry Business from Persán, a multinational European market leader in home and personal care. The Mibelle Biochemistry Business, part of the Mibelle Group, is a Swiss innovator specializing in the development and production of high‑performance active ingredients for the cosmetics, nutraceutical and food industries. The transaction is expected to close in the first half of 2026, subject to the satisfaction of customary closing conditions. The Homburger team was led by Daniel Hasler (Corporate / M&A) and included Carlo Sulser, Cédric Berger, Anina Preusker and Viviane Egli (all Corporate / M&A), Olivier Bühlmann (Real Estate), Gregor Bühler, Joel Fink and Berem Brun (all IP / IT), Angela Casey (Employment and Executive Compensation), Reto Heuberger and Juliette Buob (both Tax) as well as Richard Stäuber and Nicolas Stocker (both Competition).   Contact Wanda Schweda / Marketing / [email protected]