While M&A activity in 2020 was restricted by the spread of COVID-19, in 2021 the market globally experienced a sharp rebound and achieved record-breaking levels, driven by pent-up demand from 2020 and dynamic growth in the world economy. As a result, the global M&A market hit an all-time record, exceeding $5 trillion for the first time – a +64% jump in value compared to 2020 (and +24% in the number of transactions). The same scenario unfolded in the Swiss market, with the number of transactions in which Swiss SMEs were either the buyer or the target increasing to 233, +25% compared to 2020.
This uptrend is reflected in the latest Deloitte CFO Survey published in autumn 2021, which found that in the opinion of Swiss CFOs their country’s economic recovery remains on track: 83% rated the general economic outlook over the next 12 months as positive – the third-highest rating since the CFO Survey was first conducted in 2009. Expectations for most corporate indicators have also improved, with 69% of CFOs rating as positive the financial outlook for their own company over the next 12 months. 60% reported that revenues had recovered to at least pre-crisis levels and 72% expected an increase in sales over the next 12 months, although lower operating margins.