1、M&A Activity of Swiss SMEs Deloitte study 2026 The pieces of the puzzle finally come together to drive the long-awaited M&A recoveryFebruary 20262M&A Activity of Swiss SMEs:Deloitte study 2026 The pieces of the puzzle finally come together to drive the long-awaited M&A recoveryThis is the 20th editi

2、on of the Deloitte study on M&A activity of SMEs in Switzerland.It uses various sources of information to identify transactions involving Swiss SMEs.For more information on the methodology of this study,please refer to page 16.About this reportM&A Activity of Swiss SMEs:Deloitte study 2026 The piece

3、s of the puzzle finally come together to drive the long-awaited M&A recovery2M&A Activity of Swiss SMEs:Deloitte study 2026 The pieces of the puzzle finally come together to drive the long-awaited M&A recoveryIntroduction 4M&A activity overview 5Transactions in Switzerland 6Outbound transactions 7Pr

4、ivate equity 8Interview with Christophe Utelli,CEO of Cit Gestion SA 9Economic environment in Switzerland 11Deloitte Swiss Small&Mid Cap index 132026 outlook 14Terminology and methodology 15Deloitte Strategy,Risk and Transaction Advisory 17Authors and contacts 18Contents34M&A Activity of Swiss SMEs:

5、Deloitte study 2026 The pieces of the puzzle finally come together to drive the long-awaited M&A recoveryIntroduction We are pleased to present the latest edition of our review of mergers and acquisitions(M&A)activity,covering sales and acquisitions of small and medium-sized enterprises(SMEs)in Swit

6、zerland in 2025.Globally,M&A activity increased markedly in 2025,with approximately 41,000 deals completed,a 4%increase year-on-year,and a resurgence in mega-deals,bringing the aggregate value of all deals to CHF 3.7 trillion,close to 2021 levels.This momentum was also mirrored in Swiss SME M&A acti