The growing importance of technology provides opportunities and risks for Swiss industrial companies. In addition to new possibilities in the context of automated production, the Internet of Things, for example, also provides new business areas. Furthermore, with the strong Swiss franc, the pressure for cost-effective production sites and high productivity remains. The M&A partnership Globalscope enables IFBC to support its clients in the worldwide search for suitable target companies and interested buyers.
Internet of Things (IoT), digitisation and Industry 4.0 are long-term growth factors in many industrial sectors. On the one hand, efficiency gains can be achieved through an increasing automation of the production and distribution networks can be optimised through digitisation. On the other hand, new application possibilities for products are emerging, such as the interconnection of household appliances, and products can be increasingly tailored to specific customer needs.
The automotive industry is undergoing a comprehensive transformation. The electrification of the global automobility is inevitably progressing. As technological development advances, the acceptance of autonomous driving will also increase, and our mobility behaviour will change fundamentally. Once the COVID-19 pandemic will have been overcome, alternative, more ecological mobility concepts such as car sharing will gain momentum again.
It is not only the growing world population, for which experts estimate a required increase of 50% of the global food supply by 2050 that poses major challenges to the food industry. Consumers and regulators are demanding a responsible, resource-efficient and sustainable production to reduce global greenhouse gas emissions as well as a sustainable waste regulation.
Furthermore, healthy and personalized food is becoming a crucial part of our social lifestyle.
The Swedish company ASSA ABLOY, the world’s leading supplier of access systems, increased its stake in the Swiss company agta record to 93% in August 2020. The acquisition strengthens ASSA ABLOY’s presence in Switzerland and in 16 more countries worldwide with direct presences of agta record.
In July 2020, the Austrian-based and at the SIX Swiss Exchange quoted sensor manufacturer ams acquired a majority stake of 71% of the outstanding shares of OSRAM. The German manufacturer of lighting systems constitutes an opportunity for ams to further expand its leading position in photonics.
In August 2020, the Swiss industrial group Sulzer acquired Haselmeier, the German specialist for drug delivery systems, at an enterprise value of EUR 100 million. The acquisition is intended to exploit growth opportunities in the fast-growing drug delivery market by integrating Haselmeier into Sulzer’s applicator systems division.
Montana Aerospace AG carried out a capital increase by means of a private placement of new shares in November 2021. Part of the capital increase was the conversion of an existing hybrid loan into equity. IFBC was mandated by Montana Aerospace AG to prepare a fairness opinion as an independent valuation expert regarding the fair value of this hybrid loan for the attention of the Board of Directors.
Montana Aerospace AG is a leading manufacturer of system components and complex assemblies for the aerospace industry with approximately 5’300 employees. The products of Montana Aerospace AG are produced at 28 locations on four continents and are used in the aerospace, e-mobility, and energy sectors. Montana Aerospace AG is listed on the SIX Swiss Exchange.
IFBC was engaged by Hero to further develop the process for managing the costs for internal projects and corporate services at the group level and to examine all steps from the application through ongoing controlling to documentation accordingly. As part of the revision of the process design, the specific needs and requirements for adequate documentation of project expenses from a tax perspective were also taken into account. In order to ensure target-oriented and standardized implementation, appropriate process support tools were developed in collaboration with Hero.
Hero Group is a private, Swiss international consumer food manufacturer, which, through its subsidiaries, primarily sells infant formula, baby food, jam and nutritional snack foods.
IFBC has been mandated by the management of Sipro to prepare the valuation of its 40% stake in the rolling mill Laminoirs des Landes S.A.S., Tarnos to assess its recoverability. The work included the valuation applying the DCF approach, the performance of a sensitivity analysis as well as a plausibility check of the results.
The SIPRO Group has been operating successfully in the steel business for more than 50 years. The focus is on the distribution of various steel products. Steel products from Italian steel producers are primarily marketed through various distribution companies.
IFBC supported the restructuring of Unisto’s name badges producing and distributing business unit. Various strategic alternatives for the business unit were assessed and their implementation was subsequently supported. As a result, Unisto will focus on its core activities in the future.
Unisto is a leading company in the fields of brand profiling, security seals and digital security solutions. Founded in 1926, Unisto, based in Horn (Canton Thurgau), today employs over 600 people worldwide.
The following graphs analyse the industrial sector over the past five years. The graphs show the development of the average semi-annual transaction multiples as well as a comparison between the trading multiples of listed companies in individual sub-sectors and per region as of the end of June 2020. The analysis is based on the Bloomberg database. In terms of size, a distinction is made between companies/transactions with a market capitalization of below (low-mid market) or above (large companies) USD 150 million.