Week 12 | Dätwyler double absorption | EPFL patents hit insolvency market
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ValIndex Market Pulse
Week 12 · March 20, 2026
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Interactive Edition → |
Every week we analyze thousands of Swiss registry mutations. What follows are the deals, distress signals, and ownership transfers the market hasn’t seen yet.
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New Registrations
1,222
— flat WoW
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Distress Events
411
-10% WoW
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M&A Deals
6
+50% WoW
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Succession Alerts
77
+116% WoW
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Share Deal Signals
8
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Deal of the Week
Dätwyler IT Infra AG ← Mac Robi AG + Seabix AG SERIAL
Merger
Dätwyler IT Infra AG (~1,000 employees, ~CHF 750M revenue, Altdorf UR) absorbed two Swiss IT service firms simultaneously: Mac Robi AG (Zug, SME ICT services, founded 1996) and Seabix AG (Villmergen AG, managed IT/telecom with own Swiss data centres). Not publicly listed DAE — privately held by Pema Holding AG (same Dätwyler family that controls 78% of voting rights in SIX-listed Dätwyler Holding). CEO Adrian Bolliger building 'holistic ICT solutions from a single source.' Both targets acquired 2023-24, now formally absorbed — integration phase complete.
M&A Transactions (3 more)
| Type | Acquirer | Target | Assets | Net |
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| Merger | APS Applied Power Systems AG | KES Circuit AG | CHF 3.9M | CHF 1.8M |
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Industrial electronics vertical integration in Solothurn's MEM corridor. APS absorbed KES Circuit AG (CHF 3.9M gross assets, CHF 1.8M net) — a precision power systems company acquiring a circuit board specialist in Niederbuchsiten. Textbook vertical move: APS builds power systems, KES manufactured the circuit boards that go into them. The Northwestern Swiss MEM corridor continues to be one of the most active consolidation zones in our data.
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| Merger | Infragon Ingenieure AG | ProBAS AG | CHF 1.2M | CHF 949K |
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One of Switzerland's most active serial acquirers in infrastructure consulting. Four arms-length deals on record at velocity of 4/year. PE-backed platform absorbing ProBAS AG (Building & Infrastructure, CHF 949K net). Swiss engineering consulting remains highly fragmented with hundreds of sub-50-employee firms — ideal roll-up territory.
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| Merger | TNC Consulting AG | TNC Engineering AG | CHF 181K | CHF 120K |
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Swiss solar pioneer Thomas Nordmann (73, active since 1974) simplifies his micro-group: TNC Consulting absorbs subsidiary TNC Engineering AG. Previously absorbed floating-solar venture HydroSun in 2020. Nordmann — three-time Swiss Solar Prize winner who built the world's first PV noise barrier on the A13 in 1989. Founder age + sector roll-up pressure (PE-backed Swiss Solar Group buying installers with blue8 Capital) flag a succession story in renewable energy.
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Signal Spotlights
M&A
ZH
Pratica Holding AG / Hasler + Co AG
The Hasler family of Winterthur — hardware retailers since 1853, now in their sixth generation — completed the fifth acquisition through Pratica Holding AG (formerly Delag Holding AG). Chaired by Christof Hasler, who also leads Hasler Holding AG alongside family members Andrea, Marc, and Tim, this is textbook family-driven industrial consolidation.
SUCCESSION
ZH
Distran AG
Distran AG (Zurich), inventor of the world's first ultrasonic camera for industrial gas leak detection, lost a board member with no replacement — shrinking from three to two. Founded as an ETH Autonomous Systems Lab spin-off in 2013 by Florian Perrodin and Joel Busset (Ecole Polytechnique Paris alumni), Distran's Ultra Pro cameras use 124-microphone arrays to pinpoint leaks from distance.
DISTRESS
VD
Metaphysiks Engineering SA
Metaphysiks Engineering SA, an EPFL spinoff developing neuro-haptic wearable technology, entered liquidation this week — putting three patents in neural interface technology on the insolvency market. Co-founded by Prof.
Bankruptcy Watchlist (4)
| Company | Canton | Sector | Est. |
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| EVANCE SA TM | VD | Healthcare | 1989 |
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Vaud-based pharma/laboratory company, established 1989 — 37 years in operation. Holds five registered trademarks: Labornest (laboratory supplies), Stemapharm (pharma), and VitaNest (health/nutrition).
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| Augmentiq (Switzerland) SA TM | GE | MEM: High-Tech & Aerospace | 2010 |
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Founded by Matthew Finn, former Director of Government & Security at SITA (aviation IT). Niche aviation security consultancy: 50+ clients in 20+ countries, security upgrades at 60+ airports.
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| Fair Commodities Trading SA TM | GE | Retail & Consumer | 2010 |
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Founded 2010 with CHF 5.9M share capital on Rue du Cendrier in Geneva's commodity district. Physical merchant: sugar, rice, cacao, cashew, nickel, manganese — sourcing India/China/Brazil, delivering to West Africa. 'Happy Family' trademark covers a consumer food brand for African markets.
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| Hipag Kälte- Wärme- Klimasysteme AG TM | AG | Building & Infrastructure | 1992 |
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Founded 1991, Bergdietikon. 34-year HVAC specialist and Swiss distribution partner for Mitsubishi Heavy Industries climate systems — chilled water units, heat pumps, IT cooling cabinets. Sole director Christian Chiodo Rana, 5-9 employees.
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ValIndex Market Pulse · Published every Friday
M&A deals, distress signals, and succession alerts from 6,565 weekly SOGC publications.
M&A deals, distress signals, and succession alerts from 6,565 weekly SOGC publications.
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