Niederer Kraft Frey Ltd

Niederer Kraft Frey advised medermis clinics on its acquisition of Dermazentrum Schaffhausen AG. medermis clinics is a leading provider of dermatological, phlebological and aesthetic healthcare services, operating 73 locations in Germany and Switzerland, with more than 1’500 employees including 300 physicians. Dermazentrum Schaffhausen AG is an established dermatology practice offering a broad range of medical dermatology services. This acquisition marks a strategic step in expanding medermis clinics’ presence in the Schaffhausen region. The NKF team was co-led by partner Moritz Maurer and senior associate Samuel Hochstrasser (both Corporate/M&A), working with partner Janine Reudt-Demont (Healthcare/Regulatory), senior associate Alexander Göbel, associates Alexandra Neuenschwander, Sabrina Gysi and Kevin Melchior Ebener (all Corporate/M&A) and associate Yannik Bleiker (Real Estate).

Niederer Kraft Frey is acting as counsel to EFG International on the acquisition of 100 percent of Quilvest (Switzerland) Ltd, a pure-play Swiss private bank with an established footprint in Latin America, strong focus on ultra-high net worth individuals (UHNWI) and a long-standing and successful track record in advising on private market investments. The closing of the transaction is expected in the third quarter of 2026 and subject to regulatory approval. Quilvest Switzerland was founded in 1932 by the Argentinian Bemberg family and is fully owned by Bemberg Capital, a Luxemburg-based holding of the family. The bank is headquartered in Zurich and has an established presence in Montevideo, Uruguay. It has approximately CHF 5.3 billion of client assets, of which CHF 3.9 billion are Assets under Management and CHF 1.4 billion Assets under Custody. Its business focuses on serving UHNWIs domiciled in Latin America, Western Europe including Switzerland and the Middle East. UHNW and HNW clients account for more than 90% of total AuM. The NKF team was co-led by Corporate/M&A partners Philippe Weber and Thomas Brönnimann, working with associate Manuel Hirlinger and junior associate Sandja Kozina (both Corporate/M&A), counsel Yannick Wettstein and senior associate Florian Steiner (both Regulatory), and associates Luisa Egli and Stephanie Huchler (both Employment).

Niederer Kraft Frey advised SWISSto12 on the transactions. SWISSto12, one of the world’s fastest-growing aerospace companies and leading manufacturer of advanced satellite systems and radio frequency (RF) products, has secured EUR 73 million (USD 85.5 million) in financial support from European Space Agency (ESA) Member States through the HummingSat ARTES partnership project. In addition, SWISSto12 raised funding from European private investors, bringing its total funding to more than EUR 100 million (USD 117.2 million). Signaling strong institutional and private investor confidence in the company’s commercial potential and operational readiness, the funding will accelerate SWISSto12’s development and industrialization of Hummingsat, SWISSto12’s next-gen affordable, compact satellite, to meet growing demand for commercial and sovereign communications, as well as the scaling up its manufacturing capacity and accelerating new product innovations. These initiatives address increasing global demand for cost-effective, agile and sovereign communications in both government and commercial sectors. The investment will also allow SWISSto12 to further develop its phased-array antenna technologies to be used onboard LEO/MEO/GEO satellite payloads and ground products such as user terminals. The NKF team was led by Corporate/M&A partner Jacques Bonvin, working with associate Boris Catzeflis (Corporate/M&A and Technology).

Niederer Kraft Frey advised the shareholder of Vibro-Consult AG on its successful sale to TIC. Vibro-Consult is one of the leading specialists in vibration and machine diagnostics. With decades of expertise in measurement and vibration technology, the company is a market leader in Switzerland and also supports clients internationally in the analysis, monitoring and optimisation of rotating machinery such as turbines, generators, pumps and similar equipment. The NKF team was led by Corporate/M&A partner Deirdre Ní Annracháin, working together with associate Manuel Hirlinger (Corporate/M&A) and partner Marc Vogelsang (Tax).

Niederer Kraft Frey advised Zürcher Kantonalbank (as mandated lead arranger, coordinator, agent, security agent and original lender) and Luzerner Kantonalbank AG (as mandated lead arranger and original lender) on the financing of the acquisition of a majority stake in Ergon Informatik AG by Afinum. Afinum is an investment company with a focus on investments in mid-sized companies in the DACH region. Ergon Informatik is a leading IT company in Switzerland combining technology, security and business competences to provide solutions for complex business needs, with a focus on developing and distributing software products. The NKF team was led by M&A/Finance partners Adrian Koller and Philip Spoerlé, working with associate Alexander Züger, junior associate Janyar Assa’d (both Transactions) and partner Markus Kronauer (Tax).

Niederer Kraft Frey is pleased to announce a further significant expansion of its Real Estate practice with the joining of Charles Gschwind as a new partner in Geneva. Charles is a highly experienced Real Estate and M&A lawyer with a strong focus on complex transactions. He advises domestic and international clients on high-profile asset and portfolio deals, sophisticated development projects, landmark hotel transactions and the acquisition of real estate companies, as well as on the structuring and financing of large real estate portfolios. His expertise also covers key regulatory and administrative matters, in particular Lex Koller and environmental law, alongside corporate, commercial and contract law as well as tenancy matters. He further represents clients in challenging (pre-)litigation matters across the real estate sector. Andreas F. Vögeli, head of NKF’s Real Estate team, explains: “With Charles joining us as a new partner, we further strengthen our Real Estate practice, particularly in French-speaking Switzerland. His strong transactional expertise and excellent market reputation make him a perfect fit for our team. We very much look forward to working with him.” Charles Gschwind states: “I am delighted to join NKF and its leading Real Estate team. NKF stands for excellence, collaboration and innovation, and I am very excited to contribute my experience to further expand the practice and deliver outstanding advice and services to our clients.” About NKF Niederer Kraft Frey is a leading Swiss full service law firm with offices in Zurich and Geneva, offering a full range of legal services with an international perspective. NKF works closely with clients to achieve strategic objectives, foster business growth, and navigate complex challenges. The firm is led by 52 partners and employs 220 professionals, including 140 lawyers.

Georg Fischer AG (GF), a Swiss industrial company listed at SIX Swiss Exchange (ticker: GF) has completed the divestment of its iron foundry in Leipzig (Germany) to Linamar Corp., a global manufacturer of advanced mobility and industrial solutions headquartered in Canada, effective end of day on 31 December 2025. The successful closing represents one of the final steps in GF’s transformation into a pure-play Flow Solutions company. The transaction value amounts to approximately EUR 45 million. With the closing, the iron foundry’s around 300 employees and operations in Leipzig transfer to Linamar. The foundry was previously part of the GF Casting Solutions division, for which a divestment agreement covering most of its business was signed on 30 July 2025. Niederer Kraft Frey acts as lead counsel to GF on this transaction, following its earlier lead counsel role in connection with the divestment of GF’s Casting Solutions division to Nemak (announced in July 2025) and the divestment of GF’s Machining Solutions division to United Grinding Group (announced in October 2024). The NKF team is co-led by Transactions partners Philip Spoerlé and Andrea Giger and further comprises associates Carlotta Ulmer, Peter-Conradin Schreiber and Lorenzo Henseler (all Transactions), junior associates Leonard Reiter and Caterina Moor (both Transactions), partner Thomas Hochstrasser (Commercial), partner Nicolas Birkhäuser (Antitrust), as well as counsel Marc Vogelsang (Tax). NKF is supported by White & Case LLP with a team led by Stefan Bressler, Gernot Wagner and Rebecca Emory and comprising Maximilian Eichhorn (all Frankfurt).

22 December 2025 Niederer Kraft Frey acted as Swiss legal counsel to Antin Infrastructure Partners on its agreement to acquire NorthC Datacentres from DWS and other shareholders, a data centre platform with substantial operations in Switzerland, advising on all Swiss-related aspects of the transaction. Antin has a long track record of investing in and scaling critical digital infrastructure platforms across Europe, targeting investments in the energy and environment, digital, transport and social infrastructure sectors. Based in Amsterdam, NorthC operates 25 colocation data centres across major metropolitan areas in the Netherlands, Germany and Switzerland. NorthC has more than 140 MW of secured gross grid capacity from existing and greenfield sites to support future growth, and serves more than 1,600 customers, including cloud and IT service providers, carriers, public sector organisations, financial institutions, industry, transport, healthcare and pharmaceutical sectors. The NKF team was led by Transactions/M&A partner Philipp Candreia, working with partner Andreas F. Vögeli (Real Estate), senior associate Samuel Hochstrasser, associate Pascal Hodel and junior associate Sandja Kozina (all Corporate/M&A), senior associate Annina Fey and associate Yannik Bleiker (both Real Estate), as well as associate Luisa Egli (Data Protection). NKF advised alongside international counsel Clifford Chance.

19 December 2025 Niederer Kraft Frey has acted as lead counsel to the International Chemical Investors Group (ICIG) on the acquisition of BASF’s global optical brightening business by ICIG’s care chemicals platform Catexel. The transaction comprises the international operations of the business, including the production of optical brightening agents at the Monthey site in Switzerland with approximately 80 employees, and represents a further strategic investment by ICIG in the specialty chemicals sector. Catexel is the care chemicals platform of ICIG and focuses on high-quality specialty chemicals for laundry and home care, personal care, and industrial applications. The company is a global leader in detergent ingredients, operating production sites in Germany, the United States and the Netherlands. Catexel develops, manufactures and markets specialty chemicals for a broad range of applications and is an integral part of the ICIG group. The NKF team was led by Corporate/M&A partner Philippe Weber and senior associate Samuel Hochstrasser, working with partner Fabiano Menghini (Real Estate), associate Stephanie Huchler (Employment) and junior associate Sandja Kozina (Corporate/M&A).

Niederer Kraft Frey acted as lead counsel to UBS Switzerland AG as mandated lead arranger & agent and the other members of the banking syndicate in connection with a refinancing for mageba group. mageba group is a leading global supplier of structural bearings, expansion joints, seismic protection devices, and structural monitoring systems for infrastructure, building, and industrial projects. Headquartered in Switzerland, mageba group operates and is represented in over 50 countries worldwide, supporting thousands of major infrastructure projects. The NKF team was led by partners Adrian Koller and Philip Spoerlé, working with junior associate Selim Tisli (all Transactions).

Niederer Kraft Frey advised CoinShares, a leading European digital asset investment firm with over USD 9.5 billion in AUM, on the listing of its physically-backed Toncoin exchange-traded product (ETP) on the SIX Swiss Exchange in Zurich. The listing of CoinShares Physical Staked Toncoin on SIX demonstrates the company’s ongoing commitment to offering investors access to digital asset markets through regulated means. CoinShares’ staked ETPs are designed to provide simple exposure to proof-of-stake protocols and the rewards for participating in their security. They are built to allow the issuer to share staking rewards with investors by reducing the management fee and by increasing the coin entitlement of the ETP each day, as staking awards accrue. CoinShares is a leading European investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF. The NKF team was led by Transactions partner Philip Spoerlé, working with associate Manuel Hirlinger and junior associate Matthias Schmid (both Transactions).

Niederer Kraft Frey advised Commerzbank Aktiengesellschaft and UBS Switzerland AG acting as mandated lead arrangers on Swiss law aspects of the financing of Cicor Technologies Ltd.’s acquisition of TT Electronics Plc. The transaction will be implemented by way of a UK court-sanctioned scheme of arrangement and is expected to close in the first half of 2026, subject to shareholder and regulatory approvals. The acquisition, valued at approximately CHF 303 million (GBP 287 million), will be financed through a combination of senior term debt facilities and newly issued Cicor shares. Cicor Technologies, headquartered in Switzerland, is a leading provider of electronic manufacturing services (EMS), with a strong footprint in medical technology, industrial automation, and aerospace and defense. TT Electronics, listed on the London Stock Exchange, designs and manufactures engineered electronics for performance-critical environments, with a significant presence in defense and security, transportation, energy and healthcare. The combined entity will have revenues exceeding CHF 1.2 billion, with enhanced capabilities to serve defense and high-security sectors across Europe and North America. The NKF team was led by Transactions partners Adrian Koller and Philip Spoerlé, working with associate Carlotta Ulmer (Transactions).

Sunshine SwissCo GmbH (a consortium led by EQT), together with Abu Dhabi Investment Authority and Auba Investment Pte. Ltd., have successfully placed 20,000,000 shares in Galderma Group AG at a price of CHF 130.00 per share via an accelerated bookbuilding process. The placement raised c. CHF 2.6 billion in total. Niederer Kraft Frey represented the banking syndicate in the transaction, consisting of Citigroup, Goldman Sachs, Jefferies, Merrill Lynch International, Morgan Stanley and UBS. The NKF team was led by Capital Markets partner Deirdre Ni Annrachain, working together with associate Manuel Hirlinger and junior associate Matthias Schmid (both Capital Markets).

12 September 2025 Niederer Kraft Frey advised the former owners on the sale of Bioengineering AG, a Swiss-based specialist in the development and production of bioreactors, especially fermenters for the pharmaceutical, biotech and novel food industries, with subsidiaries in China, Korea and the USA, to the Japanese Morimatsu Group. Morimatsu is a global, diversified provider of core equipment, process systems and digital intelligence integrated plant solutions listed at the stock exchange of Hongkong with around 5’000 employees worldwide. The NKF team was led by Corporate/M&A partners Andreas Casutt and Manuel Werder, working with associates Naomi Loretz and Nadine Wanner (both Corporate/M&A).

11 September 2025 SMG Swiss Marketplace Group Holding AG (“SMG”), advised by Niederer Kraft Frey as lead counsel, today announced the publication of its prospectus and the start of the book-building process, as part of its intention to conduct an IPO on SIX Swiss Exchange. The Offering consists of 19,629,040 existing shares, with an over-allotment option of up to 2,944,353 existing shares. The price range for the offered shares has been set at CHF 43.00 to CHF 46.00 per share and will result in an offer size of between CHF 971 million and CHF 1 billion. Based on the offer price range, the implied market capitalisation of SMG is estimated between CHF 4.2 billion and CHF 4.5 billion. The free float is expected to fall between 20 percent and 23 percent. Founded in 2021 as a joint venture between TX Group AG (“TX”), Ringier, Mobiliar and General Atlantic, SMG is the online marketplaces leader in Switzerland. The SMG group operates well-known brands under three primary business segments: real estate (Homegate, ImmoScout24, Flatfox), automotive (AutoScout24) and general marketplaces (Ricardo, tutti.ch, anibis.ch), complemented by additional price comparison offerings in finance and insurance (FinanceScout24). The NKF team was led by Corporate/Capital Markets partners Philippe Weber, Deirdre Ní Annracháin and Andrea Giger, working with associates Manuel Hirlinger and Pascal Hodel, junior associates Nina Lötscher, Philip Theiler, Matthias Zinniker and Robin Brändli (all Corporate/Capital Markets) and further comprised partners Thomas Brönnimann (Corporate/Capital Markets), Markus Kronauer (Tax), Philip Spoerlé (Banking & Finance), Nicolas Birkhäuser (Competition) and Simon Bühler (Regulatory). Clifford Chance, led by Frankfurt-based partner George Hacket, advised SMG on international law matters.

8 September 2025 Niederer Kraft Frey advised SWISSto12 as lead counsel on the acquisition of key assets and IP from Hanwha Phasor. SWISSto12, one of the world’s fastest-growing aerospace companies and a leading original equipment manufacturer (OEM) of advanced satellite systems and radio frequency products, has acquired intellectual property (IP) and key assets from Hanwha Phasor, following Hanwha Phasor’s liquidation. SWISSto12 has acquired Ku band active electronically steered antenna (AESA) user terminal technology and assets from Hanwha Phasor, and will combine them with its own products and technologies to offer a highly innovative and market-disruptive AESA terminal solution to the global satellite communications sector. The acquisition will allow SWISSto12 to further accelerate its product development and deliver an enhanced product line to market. The NKF team was led by Corporate/M&A partner Jacques Bonvin, working with associate Boris Catzeflis (Corporate/M&A and Technology).

1 September 2025 Niederer Kraft Frey advised medermis clinics on its strategic partnership with Mediplaza AG operating the PLAZA Kliniken. medermis clinics is a leading provider of dermatological, phlebological and aesthetic healthcare services, operating 62 locations across Germany and Switzerland with more than 1,100 employees, including 235 physicians. With this acquisition, medermis clinics takes an important step in expanding its dermatology practice network in the DACH region. PLAZA Kliniken offers a comprehensive range of dermatological services – from general dermatology, allergology and phlebology to aesthetic and plastic surgery. The clinic also provides practical medical training through its in-house PLAZA Academy. The NKF team was co-led by Corporate/M&A partner Moritz Maurer and Corporate/M&A senior associate Samuel Hochstrasser as well as Healthcare/Regulatory partner Janine Reudt-Demont, working with associates Alexandra Neuenschwander, Sabrina Gysi, Kevin Melchior Ebener and Naomi Loretz (all Corporate M&A) and associates Yannik Bleiker (Real Estate) and Stephanie Huchler (Employment).

Sunshine SwissCo GmbH (a consortium led by EQT), together with ADIA and Auba Investment Pte. Ltd., have successfully placed 19,031,811 shares in Galderma Group AG at a price of CHF 97.75 per share via an accelerated bookbuilding process. The placement raised CHF 1.86 billion in total. Galderma participated in the Placement by agreeing to repurchase 2.38 million shares for a total consideration of ca. CHF 233 million, at the same price per share determined by the bookbuilding process. Niederer Kraft Frey represented the banking syndicate in the transaction. The NKF team was led by Capital Markets partner Deirdre Ni Annrachain, working together with junior associate Nina Lötscher (Capital Markets).

Niederer Kraft Frey advised PolyPeptide Group AG (SIX: PPGN) on the securing of additional financing under its revolving credit facility, as well as further support from its main shareholder. With UBS as the coordinator and agent, the bank consortium including Danske Bank and Zürcher Kantonalbank have agreed to increase the available capital commitments by EUR 40 million to EUR 151 million and extend the term of its existing revolving credit facility (RCF) to March 2028. In parallel, Draupnir Holding B.V. has strengthened its support as the Group’s main shareholder and extended the term of the existing amounts outstanding under its unsecured short-term facility with the group. The agreements enhance the Group’s financial flexibility, as it continues its growth journey toward doubling 2023 revenue by 2028. PolyPeptide Group AG and its consolidated subsidiaries (“PolyPeptide”) is a specialised Contract Development & Manufacturing Organization (CDMO) for peptide- and oligonucleotide-based active pharmaceutical ingredients. By supporting its customers mainly in pharma and biotech, it contributes to the health of millions of patients across the world. PolyPeptide serves a fast-growing market, offering products and services from pre-clinical to commercial stages. Its broad portfolio reflects the opportunities in drug therapies across areas and with significant exposure to metabolic diseases, including GLP-1. Dating back to 1952, PolyPeptide today runs a global network of six GMP-certified facilities in Europe, the U.S. and India. PolyPeptide’s shares (SIX: PPGN) are listed on SIX Swiss Exchange The NKF team was led by M&A/Finance partner Philip Spoerlé, working with associate Selim Lötscher and junior associate Selim Tisli (both M&A/Finance).

Niederer Kraft Frey advised “Pensionskasse der HOCHDORF-Gruppe” with respect to the sale of a residential real estate portfolio in the Cantons of Zug and Lucerne that was transferred to an investment foundation. The sale was structured by way of a combination of an asset deal and a tax neutral asset swap carried out as an asset transfer according to the Merger Act.  The NKF team was led by Real Estate partners Andreas F. Vögeli and Fabiano Menghini, working with senior associate Sven Kälin and associate Rune Müller (both Tax) and associate Yannik Bleiker (Real Estate). 9 May 2025

CGS III (Jersey) L.P. has successfully sold 2,532,055 shares in R&S Group Holding AG (SIX: RSGN) by way of a block trade to a group of Swiss and international investors.The sold stake represented 6.8 percent of R&S Group’s share capital and 50 percent of CGS’s holding in the company. Niederer Kraft Frey represented CGS in the transaction. The NKF team was led by Capital Markets partners Philippe Weber and Deirdre Ni Annrachain, working with associate Benedikt Hadorn (Capital Markets).