This report, published with William Fry LLP, provides a comprehensive overview of developments in the Irish M&A market during the first half of 2025 and offers an outlook for the months ahead.

Highlights include:

• Deal trends. The first half of the year saw 236 deals worth €8.8bn announced in Ireland – compared to 227 deals worth €18.0bn during the same period in 2024. These figures are up 4% and down 51% respectively.
• Sector watch. Financial services accounted for 37% of M&A deal value in the first half of the year, more than any other sector. In volume terms, the business services sector led the pack, accounting for 23% of all first-half deals.
• Inbound activity. Almost two thirds (63%) of all Irish deals in the first half of 2025 involved overseas bidders with a strong spread of international acquirers including traditional powerhouses such as the US and UK as well as Norway, whose businesses have transacted two of the top 20 deals of the year so far. This marks an increase from the 59% share of inbound activity recorded during the same period in 2024.
• Private equity. Activity in the private equity (PE) space made up 24% of all deals in Ireland in H1 2025, with deal numbers up 39% compared to last year. However, in line with overall M&A figures, the aggregate value of PE deals fell by 71% year-on-year.