Weekly Report

Market PulseJanuary 30, 2026by ValIndex Intelligence

Week 5

New Registrations

1,184

-5% WoW

+24% 4W

Distress Events

451

-17% WoW

+21% 4W

M&A Deals

-30% WoW

+22% 4W

Succession Alerts

-8% WoW

+15% 4W

Publications

7,053

-2% WoW

+18% 4W

Deal of the Week

Type	Acquirer	Target	Sector	Assets	Net
Merger	GNG AG	GNG Immobilien AG	Automotive & Mobility	33.0M CHF	7.1M CHF

More in this edition

KIBAG RE AG←Muldenzentrale AG3.1M CHF
Horia SA←?3.6M CHF
MCPH SA←Meyco Holding AG14.9M CHF
TRETOR HOLDING II AG←TRETOR HOLDING AG3.0M CHF
ELEKTROBAER AG←Elektro Bär6.7M CHF
SIG SAUER Gemeinnützige Stiftung←Stiftung Historische Waffensammlung der SIG1.2M CHF
5 bankruptcy investigations
3 signal spotlights

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Canton Activity Map

Most M&A Deals

Zurich

1deals

Runner-up

St. Gallen

1deals

National Total

3deals this week

Top Jurisdictions

1.Zurich

119.1%

2.St. Gallen

15%

3.Jura

10.6%

Top 3 cantons represent 100% of national m&a deals activity this week.

Low

High

Source: SOGC Publications

Sector Signals

Growing

Stable

Declining

New

(4-week trend)

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

M&A Transactions (6 more)

Type	Acquirer	Target	Sector	Assets	Net
Merger	KIBAG RE AG	Muldenzentrale AG	Building & Infrastructure	3.1M CHF	2.9M CHF
Merger	Horia SA		Business Services	3.6M CHF	2.3M CHF
Asset Transfer	MCPH SA	Meyco Holding AG	Business Services	14.9M CHF	14.9M CHF
Asset Transfer	TRETOR HOLDING II AG	TRETOR HOLDING AG	Business Services	3.0M CHF	3.0M CHF
Asset Transfer	ELEKTROBAER AG	Elektro Bär	Building & Infrastructure	6.7M CHF	2.7M CHF
Asset Transfer	SIG SAUER Gemeinnützige Stiftung	Stiftung Historische Waffensammlung der	Industrial & Manufacturing	1.2M CHF	1.2M CHF

Signal Spotlights (3)

M&ASG · Services Automobiles & Garages

GNG AG / GNG Immobilien AG

GNG AG absorbed GNG Immobilien AG in a St. Gallen intra-group merger, consolidating CHF 33M in real estate assets. The transaction is a corporate housekeeping move — merging a property-holding subsidiary into the parent — but the scale (CHF 7.1M net) underscores the real estate concentration typical of eastern Swiss family-owned groups. GNG operates in the Business Services cluster, suggesting the real estate was held as an investment portfolio rather than operational assets.

SUCCESSIONJU · Usinage Général

Décoltec S.A.

Décoltec S.A. (Courroux, JU), a precision turning (décolletage) firm in the Jura watchmaking corridor, lost board member Gaston Montavon with no replacement. Décoltec operates in the highly specialized world of Swiss bar turning — producing micro-components for watchmaking, medtech, and automotive clients. The departure of a longstanding board member from a Jura family firm of this profile is a textbook succession signal in a region where such expertise is increasingly scarce.

DISTRESSVD · Hôtellerie & Restauration

ITACOPPET SA en liquidation

ITACOPPET SA (Coppet, VD), a hospitality operator running cafés and catering services, was declared bankrupt by default judgment of the Tribunal de l'arrondissement de La Côte on January 19, 2026. Founded in 2018, the company represents the ongoing shakeout in Swiss hospitality — a sector where post-COVID cost structures and labor shortages continue to squeeze small operators without diversified revenue streams or institutional backing.

Notable Bankruptcies (5)

Company	Canton	Sector	Details
Helvedis SA en liquidation Marketing and distribution services	JU	Industrial & Manufacturing	Est. 2011 · TM: Helvedis
AF Energy SA, en liquidation Financial, commercial, industrial, and service activities in energy	GE	MEM: Energy & Environment	Est. 2017 · TM: AF ENERGY
Lexen SA en liquidation Energy research, development, manufacturing, and maintenance	VS	Business Services	TM: LEXEN
ITACOPPET SA en liquidation Operates cafes, restaurants, takeaway, catering services	VD	Hospitality & Food	Est. 2018
Nateo Environment SA, en liquidation Consulting and marketing in environment and waste management	GE	MEM: Energy & Environment	Est. 2017

Weekly Take

The Swiss commercial register settled into a stable rhythm in W05, with most KPIs posting modest single-digit declines week-on-week. New registrations dipped to 1,184 (-4.6%), board changes held flat at 2,394, and M&A deals edged down to 28. The post-holiday normalization that began in W03 appears complete, with activity now reflecting the underlying pace of Swiss corporate life.

Bankruptcies declined 15.9% to 191, confirming that last week's 227-count was a court-backlog clearing event rather than a trend. The filings this week skew toward energy and environmental services — AF Energy SA and Nateo Environment SA both filed in Geneva, while Helvedis SA (distribution, est. 2011) went under in Jura. The energy transition continues to claim firms that couldn't bridge the gap between project pipeline and cash flow.

The standout deal was GNG AG's absorption of GNG Immobilien AG in St. Gallen (CHF 33M in assets), a classic real estate holding restructure. MCPH SA's CHF 14.9M acquisition of Meyco Holding AG assets points to consolidation in the chemical/construction materials space. Succession signals eased to 46, with Décoltec S.A. in Jura's watchmaking corridor losing a longstanding board member — a pattern increasingly common among family-owned Jura manufacturers.

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