Overview
Overview of M&A activity in 2023
The year 2023 started with a cautious M&A market in
Switzerland due to global recession fears and rising interest
rates. Deal activity notably shifted towards mid-market
transactions, as companies prioritised strategic acquisitions and
the optimisation of their portfolios, with an emphasis on
transformation, digitalisation and sustainability. This strategy
mirrored a cautious yet forward-thinking approach, considering the
geopolitical and economic challenges as well as rising energy
prices.
Although deal volume dropped compared to 2022, the Swiss M&A
market demonstrated its resilience in 2023. By the end of the year,
Swiss entities (as targets, acquirers or divestors) were involved
in 537 transactions, with a total deal value of USD 50 billion
(deals with known values as per Mergermarket). This represented a
decline compared to 2022, which saw 616 transactions and a total
deal value of USD 60 billion (deals with known