M&A Outlook 2025

Our annual M&A Outlook offers a highly promising forecast for Ireland's M&A landscape in 2025. The survey, which gathered insights from 150 executives involved in corporate deals, emphasises a bullish M&A market in 2025.

Encouragingly, 84% of respondents plan to pursue M&A opportunities in 2025, a rise from 78% in 2024. While responses suggest that 2025 will marginally continue to be a buyer’s market, the growing number of neutral responses indicate that the valuation gaps seen in recent years are expected to narrow, potentially as a result of pressure to deploy capital.

“The Irish M&A landscape in 2025 offers significant opportunities for well-prepared sellers,” said Mark Collins, Partner, Head of Deal Advisory at KPMG in Ireland. “Echoing the survey, we are already seeing a very strong pipeline for 2025, across a broad range of sectors. The level of positivity demonstrates the confidence in Irish business to navigate an increasingly complex international environment”, continued Collins.

The Irish M&A landscape in 2025 offers significant opportunities for well-prepared sellers.

Mark Collins

Partner, Head of Deal Advisory

KPMG in Ireland

Key sectors and financing trends

Dealmakers expect sectors like technology (30%), energy and infrastructure (21%), and healthcare and pharmaceuticals (16%) to be the most active in 2025, with technology now leading in M&A deal value for over a decade.

Interestingly, a significant majority (80%) of M&A leaders describe financing as either “readily available” or “adequate but with some constraints." This suggests access to sufficient financing is available in the market with constraints applicable to riskier sector verticals.

According to David O’Kelly, Head of M&A at KPMG: “We expect the number of private equity transactions to increase this year both from fresh acquisitions and exits of existing portfolio companies. The level of domestic and international private equity dry power continues to rise, with Ireland seen to be an attractive destination for investment.”

We expect the number of private equity transactions to increase this year both from fresh acquisitions and exits of existing portfolio companies.

David O'Kelly

Partner, Head of M&A, Head of Consumer, Retail & Manufacturing

KPMG in Ireland

Crucial due diligence and key success factors

M&A professionals believe traditional diligence workstreams will continue to be carried out in 2025 and will be seen as crucial to unlocking deal value. The top three forms of due diligence include finance (83%), legal and regulatory (74%), and commercial (66%). While the use of IT/operational and ESG diligence is increasing, it is expected that these areas will continue to play a more significant role in transactions.

Finally, M&A leaders identified target awareness as the most critical factor enabling successful dealmaking in 2025, followed by the need for swift access to financing.

Key findings - M&A Outlook 2025

Deal volume

Participants anticipate that deal volumes will either increase or remain broadly stable in the coming year, indicating a bullish M&A market for 2025.

Pursuing M&A

Deal activity is poised for growth, with 84% of respondents planning to pursue M&A in 2025, up from 78% in 2024.

Deal multiples

90% of respondents foresee stable or rising valuations in the coming year, indicating an optimistic outlook for 2025, a shift recent year’s anticipated softening.

Buyers’ or sellers’ market

While responses suggest marginally that 2025 will continue to be a buyer’s market, the growing number of neutral responses indicate that the valuation gaps seen in recent years are expected to narrow potentially with pressure to deploy capital.

Financial or strategic buyer

Almost half of respondents predicted private equity buyers to be most likely to transact. This represents an evolution in the market, historically the vast majority of respondents predicted strategic buyers to be the clear leaders in deal activity.

M&A Outlook 2025

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Get in touch

If you have any queries on the topics raised in this year's M&A Outlook report, please get in touch with our Deal Advisory team below. We'd be delighted to hear from you.