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Deal Snapshots on M&A, private equity and real estate transactions.
Valstron Research9 Deal Snapshots · Zurich
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- Exit completed13 March 2026 Private Equity LatestGalderma. From Nestlé carve-out to full sponsor exitA consortium led by EQT bought Nestlé Skin Health in 2019, renamed it Galderma, listed it in Zurich in 2024 and sold its last shares in March 2026. We trace the full arc of the investment.
- Announced6 October 2025 Real EstateCopré / SFP. A pension fund hands over its real estateCopré, the Pension Fund of Western Switzerland, moved a portfolio worth almost CHF 1 billion into a dedicated investment group at the SFP Investment Foundation. We read why pension funds outsource their property, and what the structure means.
- First trading day19 September 2025 Private EquitySMG Swiss Marketplace Group. A joint venture goes publicTX Group, Ringier, Mobiliar and General Atlantic built Switzerland's leading online marketplaces in a joint venture formed in 2021. In September 2025 they took it public on SIX. We read the offer and the investment case.
- First trading day23 June 2025 M&AHolcim / Amrize. Splitting a building materials group in twoHolcim spun off its North American business as Amrize, listed in New York and Zurich on 23 June 2025. We read why separation was expected to create value, and how it was done.
- Announced22 April 2025 M&AHelvetia Baloise. Two Swiss insurers become oneHelvetia and Baloise combined in an all-share merger of equals, creating Switzerland's second-largest insurance group. We read the structure, the synergy case and what is still to be proven.
- Announced15 March 2024 M&ASwisscom / Vodafone Italia. Doubling down on ItalySwisscom paid EUR 8 billion for Vodafone Italia and merged it with Fastweb to create Fastweb + Vodafone. We read the industrial logic, the debt-funded structure and the synergy case.
- Announced14 March 2024 Real EstateSwiss Prime Site / Fundamenta. A property owner buys an asset managerSwiss Prime Site acquired the real estate asset management business of Fundamenta Group in 2024. We read why a listed property company is building third-party asset management, and how it paid for it.
- Completed2 May 2023 Private EquitySika / MBCC. A private equity round tripLone Star bought BASF's construction chemicals business in 2020 for EUR 3.17 billion and agreed a year later to sell it to Sika for CHF 5.5 billion. We read the sponsor's round trip and the antitrust price Sika paid to close.
- Announced19 March 2023 M&AUBS / Credit Suisse. A state-brokered rescue mergerOver one weekend in March 2023, UBS agreed to take over Credit Suisse for about CHF 3 billion in shares, backed by state guarantees and a write-down of CHF 16 billion of AT1 capital. We read the structure and what it left behind.
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Private EquityGaldermaDownload
Real EstateCopré / SFPDownload
Private EquitySMG Swiss Marketplace GroupDownload
M&AHolcim / AmrizeDownload
M&AHelvetia BaloiseDownload
M&ASwisscom / Vodafone ItaliaDownload
Real EstateSwiss Prime Site / FundamentaDownload
Private EquitySika / MBCCDownload
M&AUBS / Credit SuisseDownload