This report provides a comprehensive overview of developments in the Irish M&A market during the first half of 2023 and offers insight into the outlook for the rest of the year.

Highlights include:

• Despite some positive macro-economic indicators (at least in relative terms), the Irish M&A market has inevitably been impacted by the global slowdown in activity. The first six months of 2023 saw 177 deals involving Irish businesses, collectively worth just over €5.2bn. Year-on-year (YoY), that represents a minor decline of 2% in volume and a more substantial -58% decrease by value.
• The shape of Ireland’s M&A market in the first half of the year was similar to previous years, with 97% of transactions falling into the mid-market segment; of the 51 first-half deals where the value was disclosed, 45 of them were valued at between €5m and €250m.
• The top end of the market however was particularly quiet, with just three deals worth more than €500m announced during the first half. The biggest recorded deal of all saw Chiesi Farmaceutici agree to pay €1.34bn for Irish head-quartered Amryt Pharma, another sign of the influence of the international pharmaceutical sector on Irish M&A statistics in recent years.

The report is also available via williamfry.com